Insurance UK

[Keeper]

Very glad I read this thread this morning.

Did a CTM quote, LV were less than half what I'd signed up to with Churchill, quick call to Churchill to cancel (in cool off, so only lost a couple of £) and new policy taken out

Did you have any issues with the No Claims Discount? Is it attributable to just the Tesla or did you lose it on another car? I will now be insuring 2 cars, one of which will be a new policy so I guess I'm going to cop for it on one. I too don't want to keep checking for fear of waking up the algorithm monster!

 

[LEE3]

I spoke with LV yesterday who confirmed they are in the the process of changing their website to accept M3 quotes and they also said they are fixing this issue where it just states ‘we do not insure this car at present’ which Is a result of no registration number being added.

 

[Fullerene]

I too don't want to keep checking for fear of waking up the algorithm monster!

Also holding off checking as I am concerned an expired quote will be put up if I have to get a re-quote closer to delivery. Though of course I can't really tell that it isn't just a little bit of the 3 week sweet spot kicking in. Current car has insurance renewing and MOT expiring at the end of the month

 

[TestPilot]

I'm gonna have to deal with LV over the phone as I need it to be a change to my existing policy. Hope they have their sh*t together on the phone now.

 

[DaveW]

Have you picked up? Any probs with Octopus/sg or all smooth? Not heard anything yet but Tesla did say second half of August :/

I have! - SG and Octopus were really helpful, even met up with Cyril at West Drayton (he picked me up from the station!), he even helped me run through the check list

Did you have any issues with the No Claims Discount? Is it attributable to just the Tesla or did you lose it on another car? I will now be insuring 2 cars, one of which will be a new policy so I guess I'm going to cop for it on one. I too don't want to keep checking for fear of waking up the algorithm monster!

No issues, as you get a few days to send them to the new insurer anyway, I hadn't even got round to sending the proof to Churchill yet

My previous insurer (who couldn't insure a Tesla) were brilliant, as I need to keep my old car insured until BMW come and collect it, they gave me a great deal without NCD on old car by near enough replicating the discount levels

 

[karlak]

Anyone notice the windscreen excess for LV ?


Windscreen Replacement £190

Very good quote for the premium though compared to others.

 

[TestPilot]

Well, interesting. LV aren't great for me, I can switch from my i30 to M3 for the next 2 months for just over £100, but the renewal is £830 or thereabouts for the year, which is about £200 more than my Churchill and DL quotes.

So for simplicity of getting my car on Thursday I'm gonna stick with them, but I'll be shopping around for next year....

 

[TestPilot]

Oh more confusion. I've never done PCP before..... Who is the legal owner as far as insurance is concerned, is it me or Black Horse?

When I search online for this I'm getting a lot of opinions but not really any facts.....

 

[pmg102]

Interesting experience with LV.

Now that you can specify the RHD cars - I went for a new quote... Model 3 AWD LR... came out as £550, which I was happy with... but went onto chat and checked out the position with my NCD. I'd built up 10 years with Admiral by 2016 when I got a company car. Had that 3 years, with a single no-fault claim (3rd party drove into me while parked, and admitted liability). They told me I can specify a NCD of 2 years... I almost wept. That put's the quote up to £780.

But they do multi-car... my wife isn't due to renew until April, but I thought I'd see what the impact was of adding her car.

It has dropped the quote to £707. And that includes BOTH cars... i.e. mine for 12 months, and hers from April 2020 to September 2020. With only £603 to pay today. Looks like the multi-car discount is worth £70 more than my wife's insurance!

Nice. Very happy with that. Cheapest I'd got beforehand was £1200.

(40 yo. Liverpool. 2 years NCD)

 

[Christiez]

Oh more confusion. I've never done PCP before..... Who is the legal owner as far as insurance is concerned, is it me or Black Horse?

When I search online for this I'm getting a lot of opinions but not really any facts.....

Don't quote me on it but I think you're the registered keeper and the finance company are the legal owner.

 

[TestPilot]

Don't quote me on it but I think you're the registered keeper and the finance company are the legal owner.

These guys think otherwise and I'm reading that telling LV that I don't own it might prompt them to double the premium..... PCP & Car Insurance/Ownership Issue! Here's an answer for those not sure...

 

[Christiez]

These guys think otherwise and I'm reading that telling LV that I don't own it might prompt them to double the premium..... PCP & Car Insurance/Ownership Issue! Here's an answer for those not sure...

I'm happy to stand corrected as I'm thinking premium will go up if I'm not the owner..

 

[TestPilot]

I'm happy to stand corrected as I'm thinking premium will go up if I'm not the owner..

I've given LV a call and asked them the direct question, they've advised me to contact Tesla and Black Horse and ask what to put as legal owner for insurance purposes. I asked if the policy is still valid for the meantime and the guy said yes, no problem....

 

[Tony Hoyle]

Insurance companies generally don't care (or even always ask) about legal owner, only registered keeper. The majority of cars in the UK are on some kind of finance and owned by the finance company. And a lot of people don't know that and assume they are the owner so would fill it in wrong anyway.

 

[TestPilot]

Insurance companies generally don't care about legal owner, only registered keeper. The majority of cars in the UK are on some kind of finance and owned by the finance company.

So is everyone telling their insurance companies the finance company name and address when the insurance company asks them who owns the vehicle?

Sorry, never had finance on a car before...

 

[TomD]

So is everyone telling their insurance companies the finance company name and address when the insurance company asks them who owns the vehicle?

Sorry, never had finance on a car before...

The insurance company will normally ask one of two questions.

What the relationship between you and the car is - you are the registered keeper.

or

who is the registered keeper? - you are.

I don't remember ever being asked who the legal owner is.

 

[TestPilot]

The insurance company will normally ask one of two questions.

What the relationship between you and the car is - you are the registered keeper.

or

who is the registered keeper? - you are.

I don't remember ever being asked who the legal owner is.

LV asked me registered keeper and owner separately, and my policy document has two items listed "Legal owner" and "Registered keeper", both right now say me.

 

[Leo UK]

Really helpful advice thank you everyone

 

[TestPilot]

Sorry, I know I'm beating this to death but just to be clear what I am asking...

This is a two part question about insurance specifically for people who have a car through PCP and an insurance policy for it:
1) Did your insurance company ask who the owner is?
2) If so, what did you tell them?

 

[Tony Hoyle]

comparethemarket don't ask, so they don't tell insurers that information, so that'd cover any insurer on their list at a minimum.

As I've never been asked for owner I've never had to tell them anything.