Anyone Heard of This? 2 Car Insurance on 1 Car

[iiinycboi]

So like the title says, Has anyone heard of it? Dealt with it? Sold it?

I'm confused as to how it works, is it even legal or what not...

Basically someone said they have 2 car insurance on the car to lower their rates. They buy company A for Full Coverage for insured car only. company B for liability only. (so its kind of not dual insurance because depending on whose fault, which insurance will pay. They are not profiting from 2 payouts)

Is that even legal? Anyone have any clue what this is about?

 

[BTFuzz]

Never heard of it. The companies I deal with will only provide comp and collision along with liability, med, etc

 

[Guest]

never heard of it, and dont wanna hear about it again! LOL

 

[Josh]

What you're saying here doesn't make sense.

How is having full coverage one one car from one company and then adding more liability from another company cheaper that just having one insurance policy?

 

[djs]

Its possible.
It would be a claim nightmare.

My guess is somebody got some facts wrong in the original story, either confusing multi-car discounts or confusing fleet liability, or some state they once lived in had some weird law that let them share liability across multiple cars, or ????

Where I live, I could issue 2 separate policies. Liability only, no problem. Comp/collision separately? Only a few carriers. Total premium, much higher than combining them.

Dan

 

[iiinycboi]

Basically i got a guy who came in and said that they want me to try 2 companies to see if the rates get better. I was confused and asked him what he was talking about or how he heard about it.

He said another agency does Company A coverage for insured car only and Company B coverage for liability only is cheaper than Company A full coverage...

So i told him i'll look into it but to be honest, i have no idea what you are talking about. Then he said if i can do it, call him and he will come back.

Figured maybe you guys would know something about it.

 

[Guest]

In california there are some carriers that offer c/c only. Basically you can buy liability with one carrier and then get c/c with another. Sometimes its cheaper than combining coverages but its situational. Good to know about but rarely practical. The one time it might be worth looking into is when u have a multi driver and multi vehicle policy with 1 high risk driver and 1 high value car. Depending on which 2 companies this person has, hes more than likely paying more in policy fees than hes saving but is only looking at the monthly cost. Do the math for him and put him into a policy that covers both. And like stated its also extremely frustrating at that point to deal with an at fault accident since now u have 2 companies to deal with instead of 1

 

[NCAgent]

You also better make sure that there is no overlap in coverage, or it becomes a big issue for everyone. Dual coverage means pro-rata liability and everything and then people get pissed.

It is possible to get the different coverage for comp. and collision than from liablity only, it happens in NC where some companies cede coverage. It's almost as practical as giving a child their own policy in terms of rates because then they lose multi car and multi driver rate cuts, and might take those away on the parent policy, too.

It depends on the car, state, person, and their MVR/CLUE.

 

[Guest]

I would run from this guy, I see service nightmare!

kicking a policy to the door every once in a while wont hurt you

 

[Justin Bilyj]

I've heard of two girls and one cup, but not two policies on one car lol;-P