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Are you allowed hold 2 insurance policies?

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  • 21-02-2007 1:47pm
    #1
    frobisher
    Registered Users Posts: 2,413 ✭✭✭


    I think the answer's no but couldn't find any info. Anyone know the facts?


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    #2
    [Deleted User]
    Posts: 3,621 ✭✭✭ [Deleted User]


    Yes!
    But you can only use your no claims on one of them.


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    #3
    Savman
    Closed Accounts Posts: 8,323 ✭✭✭Savman


    frobisher wrote:
    Are you allowed hold 2 insurance policies?
    Yes.


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    #4
    Seth Brundle
    Moderators, Politics Moderators Posts: 39,848 Mod ✭✭✭✭Seth Brundle


    ronoc wrote:
    Yes!
    But you can only use your no claims on one of them.
    A second or subsequent policy will each build up its own NCB. An incident affecting one policy should not affect the other NCBs.


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    #5
    Borzoi
    Registered Users Posts: 2,876 ✭✭✭Borzoi


    frobisher wrote:
    I think the answer's no but couldn't find any info. Anyone know the facts?

    Do you mean on the same vehicle? Well, yes you can hold them, but they won't all pay out. Once of the principles of insurance is that you can't be better off after a claim - say after someone torched your car, and you claimed on both of your fire policies.


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    #6
    Jo King
    Banned (with Prison Access) Posts: 2,139 ✭✭✭Jo King


    It is possible to have third party with one insurance company and fire and theft with another.It is sometimes cheaper to do this. If you have two policies covering the same risks on one car the insurers would each contribute half to any claim. A bit pointless really to pay two premia.


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    #7
    old boy
    Registered Users Posts: 2,658 ✭✭✭old boy


    you can have insurance on a car and a van two different policys


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    #8
    galwaytt
    Registered Users Posts: 12,776 ✭✭✭✭galwaytt


    ronoc wrote:
    Yes!
    But you can only use your no claims on one of them.

    Categorically incorrect. NCB is attached to the policy - not the policyholder. Two policies = two NCB's. I had 2, and my wife currently has 2, with full NCB's on both.

    As a measure, if it were the other way round, i.e. the NCB is attached to the driver, then you could use it every time. That you can't is evidence that it is policy-linked.

    This is true for the companies we use : Hibernian and FBD. All others.......who knows?

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    #9
    [Deleted User]
    Posts: 3,621 ✭✭✭ [Deleted User]


    galwaytt wrote:
    Categorically incorrect. NCB is attached to the policy - not the policyholder. Two policies = two NCB's. I had 2, and my wife currently has 2, with full NCB's on both.

    As a measure, if it were the other way round, i.e. the NCB is attached to the driver, then you could use it every time. That you can't is evidence that it is policy-linked.

    This is true for the companies we use : Hibernian and FBD. All others.......who knows?

    Yes but a new second policy, like the OP asked about, will not have a no claims bonus to start with and he can only use his existing bonus on one of them.

    Categorically correct :p


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    #10
    timmywex
    Registered Users Posts: 2,626 ✭✭✭timmywex


    Hey,

    sorry to bump this back up, but better than starting a new one altogether!

    So if i have two cars, both registered to me, i can have a policy in my own name on each one, but my existing no claims bonus only on one?


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    #11
    xt40
    Registered Users Posts: 174 ✭✭xt40


    I got a van and used my full car ncb on it. when i later needed a car as well i was given an intro 2 year bonus by royal s.a.. (which i think is standard practice) on the second policy. i now have 2 full bonuses. As i no longer need the van the second ncb will be getting used for something exotic as soon as funds allow.
    although the ncb is linked to the policy as mentioned, if you have any claim at all, you are still kinda screwed as no other insurence comps will look at you if you the driver have claimed within 5 years regardless of how many ncb's you have. the ins co's make up the rules to suit themselves.


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    #12
    January
    Closed Accounts Posts: 23,862 ✭✭✭✭January


    Said this in another thread about having two policies. If you have a full ncb with one insurance company sometimes they will give you what is called an "intro bonus" on the other policy. It's usually two years.

    But you cannot have two policies on the same car. You'd be dually insured and insurance companies try everything they can to get out of paying a claim if you're dually insured!


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