Anyone Heard of This? 2 Car Insurance on 1 Car

[iiinycboi]

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

I lol'ed yeah Im not sell these types policies but figuring out ways to shoot them down and discredit them if someone asks me about it

 

[Turz]

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

How is this possible? How can you legally insure a vehicle w/ comp and coll that makes it legal to be on the road w/o liability? I understand you can pick up a second company, but it almost seems impossible to mitigate that. Any chance you have more knowledge on the subject and could PM me?

Most states I know require liability if you're putting on comp and coll which allows the vehicle to be on the road or even in storage for that matter.

 

[Guest]

I can write comp only all day long, but not both.......

Stupid state laws!

 

[djs]

You still need liability coverage, just sometimes that is covered under a different plan. You won't run across this very often and there is a very limited market for it.

Dan

 

[iiinycboi]

apparently in my area its a huge market and people are buying this left and right

i called one of my carriers its possible to do comp only coverage if first car is with them

 

[djs]

comp only is good if you have the car in storage. Motor vehicles are usually excluded from a homeowners policy, so that classic you have in the garage (unregistered) needs comp coverage on its own.

Collision (with comp) on its own without liability is a bit harder to come by.

Dan

 

[hello..]

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

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

FOR SURE!! wouldn't want him in my book! (i kinda wish there was a smiley kicking another in the arse...)

 

[expertinsurance]

it could be like two person enrolled in single policy. You have not explained the complete scenario.

 

[Turz]

comp only is good if you have the car in storage. Motor vehicles are usually excluded from a homeowners policy, so that classic you have in the garage (unregistered) needs comp coverage on its own.

Collision (with comp) on its own without liability is a bit harder to come by.

Dan

Sounds like a nightmare to me. I'd stay away. Servicing a claim could be a horrible experience. That right there is a client only looking at premium... or an agent only selling low premium.

 

[Jack_Merton]

I agree. If a customer is looking that hard for low rates, he will be trouble once the first claim comes through.