double insurance question.

[skylinedrifter]

i was wondering if any1 here does double insurance ? k lemmi explain myself.

im only 20, insurance for ANY import performance car will be heaps. since theres no other way around insurance cost, i was wondering if double insurance is the way to go.

what im planning to do is, insure my turbo skyline r34 under my dad's name for 1500 a yr and find 3rd party insurance for myself which is around 600-700 dollars.

total cost per yr would be 1500+600= $2100.

k, if i was to insure it under my name(full comp) price is around $3300(30%ncb).

i'd figured this is a good way to insure myself with the knowledge that my car is safe if it was stolen/vandalised.

after 2yrs or soo when my insurance drops, i'll insure it all under my name.

do u guys reckon this is good or bad ?

[akeenan]

is your father going to be driving the car? if not its a bad idea.... i cant really see it happening..

[skylinedrifter]

yeh he is and if the car is stolen or vandalised it'll be covered.

i dont care if i crash the car, coz i can save up and pay for the damages. the only reason im gonna have 3rd party is to cover the other party incase i do t-bone them etc.

[Emancipator]

Errr.. i think this is illegal.

You cant have two insurance policies for the same car... its some type of fraud.

Anyway, i know this beacuse when i changed from RAC to Just Cars, since RAC didnt want to insure my nice new turbo conversion i had to switch, When i rang just cars they said that they couldnt start a new policy until the RAC one was cancelled.. and i didnt tell them i was with RAC so there must be a record of it sumwhere. So even if u try it, i dont think they will let you. Yes... even tho they are two different policy types....

Wat maybe best is to put ur dad as the primary driver and put you down as a nominated driver.

Brent.

[dnb]

my gf is an underwriter for nrma. i will ask her what she reckons

[skylinedrifter]

thnx heaps dnb. can u pm me when u get the answer. thnx alot.

ohh okies. i didnt know it was illegal. i wasnt trying to rip off the insurance company or anything. i just wanted the assurance of a replacement car or fix in the event of theft or vandal. going 3rd party by myself is risky. soo that why i thought my idea good.

but thnx anywayz.

ohhh and nrma wont insure me with a skyline.

[dnb]

haha i dont doubt it man!

[SS8_Gohan]

hey drifter,

i only turned 21 bout 3/4 weeks ago, so i have been quoted as a 20 yrd old (altho, age doesn't really matter, it's about how many full years of insurance history you have)

Rating 4, Just Cars, Turbo R34, - $2467, drops to about $2100 or $2000 rating 3. Hefty i know, but relative to my age and type of car, it's not bad. Hell, AAMI wanted $2500 full comp for my '91 pulsar hatchback! 1.6ltr!! Doesn't matter what car you insure at our ages, it's still gonna cost heaps for full comp, so i just thought, why not get a good car then?

cheers.

[3R1K]

I'm 21 and I got quoted 2100 for my car insured at $36000 inc all mods in my car but the excess is pretty high to be honest.

You could always insured under your dad's name and include you as the 2nd driver, that's what ppl normally do

[MANWHORE]

i've asked just cars, and they said ytou cannot have two insurance policies on one car (I did not ask them like that, I disguised the question).

[skylinedrifter]

awww, lucky melbourne ppl. ill tell u guy what justcar quoted me.

19yo(turning 20 next yr)

30%ncb

full comp: non turbo skyline r34 = $2860, turbo skyline r34= $3380

location: NSW

as u can see, this is kinda hard for me to pay. i wouldnt mind if it was 2100. but 2860 is too much for my liking.

[skylinedrifter]

ohh eriktufa, i did that with just car. but somehow it turn out more expensive .

[blind_elk]

i just wanted the assurance of a replacement car or fix in the event of theft or vandal.

IIRC, the insurance is "Third Party (Property), Fire and Theft", so you should be covered for a stolen car, although not sure about vandalised.

[skylinedrifter]

yeh i know. but they'll only pay about 5000 dollars in market value minus the excess fee when u lodge the claim. sooo really im gettin bak 4200 ? well if my skyline costed 7000, yeh fair enuff i wouldnt worry. but since the car is well over 20g, its not worth the loss.

[The_Paladin]

you'd be better getting 3rd party and spending the money you would have on insurance on a really mean security setup...........

[4door_Sleeper]

I am 99.9% sure its not illegal to take out multiple insutance pollicies on a vehicle, BUT it is illegal to make multiple claims on one incident.

You would probably have to declare multiple insurance policies (if asked), but there isnt any greater risk to the insurance industry (not just your insurer as they are themselves underwritten by one of only a few companies) so long as they only pay once.

[rb25]

illegal

[dnb]

ok just got the low down.

it is illegal.

no broker would ever let you do it.

you would immediately be identified as a possible fraud and heavily investigated,if you ever claimed it would take forever to get the money.

she said there is no way around it.you just have to pay like everyone else

[someonestolecc]

I thought about doing this as well.

3rd party for me ($700 or so) and comprehensive under my parents (prolly bout 1500-2500).

I thought it was illegal that's why I didn't do it - might be worth having an ask around (i work at an insurer so i'll ask the technicals )

If it is legal then it might be a good go although I don't think it is because it would stand to reason that more people would do it. The insurers would recognise people did it, then adjusted their prices accordingly

[skylinedrifter]

thnx dnb.

oh well, i guess i wont be getting a skyline after all .

well it depends on how u would look at it. im not in the game for fraud etc. basically i want to drive a skyline without having to pay high premiums and be covered for theft and vandal at the same time, if u get what i mean. soo basically my intentions was to get a deal similar to 3rd party fire and theft, except with a higher payout value and cover vandal. exactly like full comprehensive without the "at fault" repair cover.

kk. now i need to look for something else. *sigh* ermm honda integras(2001) looks great. but i dunno how fast it goes. if i were to compare the integra to a NA skyline. how would it compare ? similar ?