What does the second car arrangement entail?
By not claiming on the car insurance you build up claim-free years. These entitle you to a discount of up to 75% or even 85% on the basic premium. The accumulated discount is linked to your car insurance. What if you buy a second car? Do you have to build up claim-free years for this car in order to get a discount? Fortunately not! You can benefit from the second car scheme.
When buying a second family car, you cannot use accrued claim-free years for insurance purposes. This is because these are used for the first car. Therefore, starting with an entry-level discount does not feel fair. After all, you have demonstrated that you have a good claims history. Insurers have also realized this. Using the second car scheme solves the problem.
How does the second car arrangement work?
Insurers operate different second car schemes. The most favorable method is to copy the discount on the first car to the second car. For example, you have a 70% discount on the existing car insurance policy. Because of the second car scheme, you get a 70% discount on the second car as well. Other insurers also offer the option of copying the discount from the first car insurance, but only up to a certain discount. Another option is to offer a fixed percentage discount for the second car.
What happens in the event of damage?
In the second car policy, the discount is carried over from the first car, but the policies are not otherwise linked. Damage to one of the two cars does not affect the other car insurance policy.
Second car scheme gives no claim-free years
When terminating the second car insurance policy, you are entitled to the actual accumulated claim-free years in this policy. The discount makes it seem as if many claim-free years have been accumulated in the policy, but this is the extra discount related to the claim-free driving in the first car. This can create confusion when terminating the second car insurance policy.
Requirements second car arrangement
It is often not allowed to designate the children as regular drivers on the policy. The rule refers to the regular drivers of the first car. Many insurers also do not allow the second car to be in the name of someone else (e.g., the children). Insurers may also place restrictions on the amount of the list value of the second car.
Second car arrangement with the same insurer?
Normally, the second car must also be insured with the same insurer. There are insurers who are willing to take into account accrued claim-free years in a policy with another insurer for premium purposes, but this is the exception rather than the rule.
Does your insurer not offer this arrangement? A good reason to switch to another car insurance. After all, it can make a big difference in monthly costs.
Also read:
Negative claim-free years on your name? What next?
Car insurance by the hour - What are the dangers?
Car insurance - when does the insurer not offer coverage?
How do you insure a car on weekends?
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