Posted 11th September, 2019

Insuring a second vehicle in the family – what are the options?

So you need to insure a second vehicle within the family – what are  your options?

It can often be the case that one person in a family has a vehicle insured for a number of years and built up a no claim bonus in their name. That is fine until a second vehicle is needed by a family member or the main proposer themselves, how does insurance work out then?

One of the issues in the Irish market is that if a no claim bonus/discount is built up, it is built up on one vehicle (leaving more complicated policies such as fleet or motor trade policies to one side) only. So if you suddenly need to insure a second vehicle, a lot of insurers will start the proposer from almost zero and not give any credit for the bonus that was built up on the first vehicle. So under what scenarios could a second vehicle be needed?

  1. You may want to own a private car and need a commercial vehicle as well: This is relatively common. A person may be self employed and need a car for family life and a van for business life.
  2. Your business starts to take off: When you were a one man show, one vehicle was enough, but now that have taken on employees you need more vehicles on the road. A fleet policy is a solution but fleet policies are expensive. With our help you don’t need to take out a fleet policy.
  3. A spouse or partner needs a vehicle: It may work out cheaper for one family member to insure two vehicles in their name, instead of insuring a vehicle in a partners name who may not have any driving experience noted.
  4. You need to insure a vehicle in a company name: There may be tax incentives to insuring a vehicle in a company name so you need to have a separate policy for this.
  5. You want a car for the weekend or occasional use. Some people like to own a second classic or special vehicle with low mileage.

If any of the above scenario’s ring a bell, than contact us to see how we can help you, We have various options with our non standard insurers including the ability to ‘mirror’ a no claim bonus from a first vehicle to a second. contact our motor dept today on 0818919699 or fill in the contact form below and we will do all we can to get you on the road.