Car Insurance For Multiple Cars
You have a numbers of cars under your name and they are driven by your family members and yourself and the car insurance renewal are due on different dates. What is the best options available to you to benefit the most out of it? Below are different scenario that are helpful.
1. Your son/daughter wants to drive your car after they pass their car driving license.
You can either authorized or named them to drive your car. Authorized aka Unnamed Basis, will have a higher excess if claims occur. For Named Basis, car insurance premium will be much higher. (See: How can you keep your young driver crash-free)
2. Can I transfer my NCD to another car.
No Claim Discount (NCD) is given to the specific car you want to purchase car insurance. If you decide to sell the existing car, you are allow to transfer the NCD to the next car. Do inform the next car insurance agent that you intend to do so, otherwise, the insurance company will not know your intention and the NCD will not be transfer.
3. I have an accident, will it affect my other car insurance premium renewal.
Insurance companies have a central system to track your claim records and if you make any claim, it will be recorded and be highlighted to other insurers for your other vehicle when your car insurance is due for renewal.
4. Different vehicles have different due dates.
It will be good to consolidate all your car insurance renewal with 1 agency or Broker to remind and do the renewal for you. This is to prevent any late renewal and penalty incurred.
5. Is it better to stick with one insurance company.
Certain insurance companies are good at certain risk. Eg, If you have high claims, Young Driver, High Performance car, Classic car. Therefore, one insurer might not be able to fit in to all your needs.
It will be good to look for agency who can obtain quotes from various insurance companies to save you the hassle to do all the legwork. (See: )