GT40 insurance, do I need a second car?

Hi all

A year ago I sold my old car and haven't been insured on my own
insurance policy since. I am a named driver on my girlfriends car and
am taking delivery of my GT40 kit in the next few weeks which will
act/be my car.

However in order to keep my no claims ticking over I am thinking of
buying another car and running it until the GT40 is built. I don't
really want to buy another car but I really don't want to lose my
NCB. Is there a way that I can keep my NCB without having to purchase
a new car?

I spoke to Adrian Flux today who gave me a quote for insuring the
GT40 kit while its being built on a special build up style policy
which is great but they told me that as its not a full policy I can't
use my no claims against it and keep them going that way.

Any ideas?

Trev

www.gt40builder.com
 
Not sure how it's done on your side of the pond,
but what I have is called a Broad Form Named Policy.
Rather than insure any one vehicle,
it covers what ever vehicle I'm driving.
(no vehicle named on the policy, just my name for the required coverage)
And as it turned out, was no more expencive than the Ins. I had on one car.
Not all Ins. companys offer this, I did have to shop around a bit.
I'm not sure how it is in the UK ?
But might be worth checking out !
Good Luck !


Curtis
 
I'm not sure how it works in the UK, but I would assume that if you only own a single car, then it is assumed that this is your primary means of transportation. When I bought my Pantera in 1989, I only rode motorcycles to get around, and no insurance company would believe that they were my primary means of transport (this despite the fact that had never owned another car and only rode motorcycles for five or six years prior).

As a result, my insurance on the Pantera was on the order of $4500 a year!!! That was big bucks in 1989! I immediately went out and bought a banger VW Scirocco for $350, and it cut the insurance rate more than in half, on the Pantera.

The UK seems to be filled with absurdly cheap cars; for under 500 quid you should be able to find yourself something that will do the job quite handily, and it will likely save you at least that much on your insurance in the first year alone, effectively making your beater car free after that!
 
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