# Project car insurance suggestions



## Puglife (Nov 6, 2015)

So I've been offered a car at a really good price. It needs some work but factoring that into the equation and contingency I can see there being a little profit and fun in it for me!

So I've just rang my insurers to see the price of adding said car for 4 weeks or so. They've said they don't insure temporary cars. Bit of pain. So I've looked at temporary insurance providers and that's in the hundreds of pounds!

So I'm a little stuck now, any suggestions? The car will be doing very few miles and parked off road. The insurance is really due to the new regs and to get it the 4 mile round trip to the mechanic and home.

Anyone got any ideas please?


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## Shiny (Apr 23, 2007)

Are you planning on keeping it taxed or will it be Sorn'd off road once the 4 weeks is up?


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## turbosnoop (Apr 14, 2015)

Been in a similar situation before. My daily is insured with Chris Knott. They would allow me to bolt a car on for a fortnight at a time. The price wasn't too bad. However I explained the situation fully to them, it was a car I was going to sell. We discussed cancellation charges etc. In the end they did me a full years insurance on the car I was selling but , I would pay monthly. Then when I sold the car I paid the cancellation charge and I think that was about it. Best thing is to explain the situation honestly over the phone and hope you get someone that's helpful


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## Puglife (Nov 6, 2015)

Shiny said:


> Are you planning on keeping it taxed or will it be Sorn'd off road once the 4 weeks is up?


Plan is to sell on as soon as possible once work is done to it! (Needs new clutch and tidying up).



turbosnoop said:


> Been in a similar situation before. My daily is insured with Chris Knott. They would allow me to bolt a car on for a fortnight at a time. The price wasn't too bad. However I explained the situation fully to them, it was a car I was going to sell. We discussed cancellation charges etc. In the end they did me a full years insurance on the car I was selling but , I would pay monthly. Then when I sold the car I paid the cancellation charge and I think that was about it. Best thing is to explain the situation honestly over the phone and hope you get someone that's helpful


I have been considering this, trouble is the cancellation fee is £45! :doublesho Might try ringing again and see if I can get someone a bit more knowledgeable


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## Shiny (Apr 23, 2007)

If you take out an annual policy and cancel it, then there will be penalties for ending the contact, no different to any other annual contract. You will be subject to the short period cancellation scale of the insurer plus any admin fees or intermediary admin fees.

The other thing to be aware of is that is you do have an incident and a claim is made, unless it is non-fault with a full recovery of all losses, then you will not be entitled to any refund in the event of the cancellation and the full annual premium will still be payable.

As long as you are aware of the risk, then an annual policy is most likely the cheapest way to go, as long as you understand how the cancellation refund is going to be calculated and what the actual cost of the insurance will be.


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## Puglife (Nov 6, 2015)

Thanks for that. I thought annual will probably be the best, then cancel and get the 11 month refund minus the cancellation fee. Spoken to several insurers and struggling to get a decent quote! The average so far is £400 more than my current car. I find this very surprising I have a 63 plate 200bhp 208 GTi and proposed car is 58 plate 67bhp 107 yet the 107 is much more expensive! 

Guess I'll have to go back to the drawing board...


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## Shiny (Apr 23, 2007)

You will be unlikely to get pro rata. 1 month's cover could be a time on risk charge of circa 25% of the annual premium + the admin fee and not 1/12th of the premium + admin fee. 

Make sure you fully understand the policy conditions of the Insurer plus the TOBA of whoever is arranging the insurance for you.


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## Puglife (Nov 6, 2015)

Shiny said:


> You will be unlikely to get pro rata. 1 month's cover could be a time on risk charge of circa 25% of the annual premium + the admin fee and not 1/12th of the premium + admin fee.
> 
> Make sure you fully understand the policy conditions of the Insurer plus the TOBA of whoever is arranging the insurance for you.


Oh okay, that's interesting to know thanks . Think I'm going to have to pass up on the car as insurance is proving problematic.


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## turbosnoop (Apr 14, 2015)

Chris Knott gave it me on a pro rata basis. I checked it all out beforehand to make sure. I used about two months and paid for 2/12s plus cancellation fee


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## SteveTDCi (Feb 8, 2006)

Just go on compared market and insure it as third party fire and theft, add your parents, wife or girlfriend on the policy. I've usually found that the cheapest way to insure a banger. My last Saab cost £145 to insure for the year.


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## robertdon777 (Nov 3, 2005)

Can you not find someone with trade plates to collect and take it to the mechanic for the price of a few beers?


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## Shiny (Apr 23, 2007)

robertdon777 said:


> Can you not find someone with trade plates to collect and take it to the mechanic for the price of a few beers?


That's not how they work. Trade plates only cover the tax and there are restrictions to their use. He still needs to insure it!


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## turbosnoop (Apr 14, 2015)

Shiny said:


> That's not how they work. Trade plates only cover the tax and there are restrictions to their use. He still needs to insure it!


On the note of needing insurance and staying legal. I'll add that this car that I was selling which I took the time and paid money out on insurance. Which wasn't ideal , but you have to stay legal. Some people would probably think , ah well I'm selling it, whoever views it just needs to take it up the road for ten mins, it'll be okay without insurance. Well, how about this, the guy who came and bought this car off me was actually a policeman, he was buying it for his son, he didn't mention it at first (no need to really). You can't be too careful.


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## Shiny (Apr 23, 2007)

And just to add, if someone lets a person drive their car without insurance and they get caught, the likely outcome is that the driver of the car will get an IN10 conviction, minimum 6 points fine and that the owner will get an IN14 (aiding and abetting), min 6 points and a fine too. 

And no matter what anyone tells you, will not be covered to drive your own car under their motor trade policy. The amount of people that believe a motor trade policy covers anyone on any car still astounds me. Their only saving grace is that sometimes they get away with it as the police often don't understand motor trade policies either!


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