quark

Hi guys, last friday afternoon i had an accident which was not my fault..

When i bought my car few months ago i had it registered in my name and tried to get a private insurance but it was over 4000 pounds which is about the same as the car's worth!!!

In the meantime i was working for a small bodyshop a my boss after hearing my ordeal offered me to just put the car and me on his trader's policy - Which we did and we had to reregister my car as the property of his company to make the insurance work and under the policy im only allowed to drive a car that is registered in my company's name.

Now last friday some pillock decided to drive into the back of me while i was stationary and speaking with my boss that night he said dont worry, we'll get it sorted asap.

Now 5 days later and its still not sorted even though the other guy admitted liability.

The problem is that the insurance co wants to pay out the money to the owner that is on the V5 logbook, i.e my company, and my boss wants nothing to do with that money because he says it will make his tax rate hike up and we'll have to pay a hefty sum of tax on that money.

And in the meantime i cannot even get a courtesy car, because the other guy's insurance wants to make a car in MY name, even though we told them that my insurance only covers me to drive a company car.

Please help!!!!

Microstar

"What a tangled web we weave..." etc.

Boss is wrong on the tax matter - no tax to pay on insurance payouts.

quark

Thanks Microstar, told my boss and he will speak with his accountant today or tommorow.
I always knew i was going to have problems if something happend, but paying 4,000 pounds for the insurance is not something i could afford and it was an easy way out without selling the car.

Any idea on what can be done about the courtesy car as i live so far away and have to travel to work everyday by bus now because of this.

burbling1

iTrader: (1)

This may sound a bit harsh but, it serves you right for trying to cheat the system. We all have to pay the going rate and so should you.

Hope you get it sorted and you learn something from your ordeal, next time there may not be a payout.

quark

I know burbling, I too am very sorry that im poor and try to make best with it

Graz

If you have to pay £4000 to insure a Scoob then you either have very little driving experience / are young, or have loads of points on your licence, or have had loads of own fault accidents lately, in which case you really shouldn't be driving one

Sounds like you are now learning this to you cost. Get a cheap low power car, build up you experience and no claims bonus, then start thinking about moving up the performance ladder. It's what the rest of us had to do.

I've nearly always paid around £600 insurance a year full comp but have gone from driving a 1.6 Cavalier, to a E30 325i BMW when I was 24, to a Scoob at 30.

chocolate_o_brian

iTrader: (22)

I'm sorry, but is this honestly a wind-up?

If not, I suppose traders insurance is better than having it on mummy's name falsly, but if your that poor, either sell the car until finances are better or store it.

£4,000!! What are your details for that kind of quote.

rbaz

iTrader: (1)

Nothing wrong with been on your parents insurance (as a named driver) I was for years in fact the scoob still is

chocolate_o_brian

iTrader: (22)

Until you have to claim...

Anyways, wheres the pics you promised me?

scooby0809

iTrader: (11)

how dose this work then,because i thought if on a traders policy and you drive the car as a employ then dose that mean you can only use the car during working hours?and with trade plates in view all the time?which would look a bit sus when popping to shops at 10pm with trade plates! dont no the rules as such just seems odd to me?

quark

No, its not a windup - the car is a modified 1998 subaru wrx sti, i've had a very good deal from a friend of mine so i couldnt pass the opportunity to buy the car. Im 22 with 2 years ncb.

Trade policies are different is all i can say.

phil739

iTrader: (30)

surly if you have a accident and it was your fault the insurance company would only give you trade price for the car..

i know this one wasnt your fault , just wondered about the above??

rbaz

iTrader: (1)

Perfectly legit as long as its done right
The car is my fathers name and I am a named driver on the policy so no problem I live next door and have the same address and park in the same place

Not managed to take any better pics yet the weather has been shocking and have been busy at work.

robby

if the other insurance co want to give your company the courtesy car then surely you'd be covered to drive it under your companys insurance policy?

as you work in a bodyshop wont your boss lend you a loan car as you'll probably be having the repairs done at his shop wont you?

quark

The problem is that because "I" was involved in the accident - they want to give ME the loan car, not my company and that is the whole problem! If they make out a contract for the courtesy car in MY name then i cannot drive it under my insurance : (

I know its silly, they want to pay money out to my company and not me, but yet they want the courtesy car to be in MY name.

We tried to persuade them to give it to the company, but they dont want to and now that the whole fiasco with my boss not wanting to accept the payment and they are very suspicious of what is going on, even though they are the ones who complicate everything.

Get A Grip

you should have done it properly and honestly in the first place.

Because you have lied and cheated, the insurance company will be perfectly entitled to withold any payment in respect of your losses, and you may be held liable to compensate the other driver. You could also be prosecuted.

Serves you right for trying to be clever. And if the Ins Co are reading this, you may be facing a big bill.

Now go and catch the bus and do something honest and decent with your life.

Beastie

iTrader: (2)

Any courtesy car i have ever had has had its own insurance. They have been nothing to do with my own policy. They must just have the named drivers on their policy. It is a scheme and nothing to do with your own insurance.

quark

Oh sweet, that solves everything thanks!

cookstar

iTrader: (6)

Sorry but have to agree, if you can't afford to insure it, you shouldn't have bought it.

Big_Dan531

u keep saying that this is wrong but how come now direct line etc offer no claims to people on the policy as a named driver as they know the price of insurance for young drivers is exspensive

i dont see how being a named driver on the policy is a problem at most people have 2 cars in the house hold insured in each name and then the other person put on as a named driver thats the whole point of it.

s1lko

You can't blame the guy for wanting to drive a Scooby at 22.

Yes, he's learning that there aren't too many shortcuts in life the hard way, but at least he made sure he was insured. There are far too many ******* out there who would happily hoon around uninsured.

Alec

It's not a problem if you genuinely have a named driver for occasional use of the car, however it is illegal (and technically fraud) if the named driver has use of the car more the time then the main driver. I believe both parties, parent and child, can get 6 points, a chunky fine and be not insured if caught.

Effectively its the same as not having insurance.

jaytc2003

iTrader: (1)

good for getting insured
bad for not getting a quote before getting the car

got a feeling this is going to be an expensive lesson. Cue the next post, "boss fires me as work not upto scratch and keeps the money from the insurance"

if your named on the trade policy though, surely it doesnt matter if the courtesey car is in your name as you have the insurance to cover it?

Gary C

Bollox, its not income, its not taxable !

He agreed to cover you, he should stand by that, but you might have to meet any costs like loss of no claims ?

snOOpy86

iTrader: (1)

sorry but you are wrong, i work for a large nationalised bodyshop and the c.car insurance is transfered over from the customers exsisting policy, this is so any accident/damage that is caused to vehicle is down to policy holder not our company, and our £25k excess.

snOOpy86

iTrader: (1)

id consider this a small price to pay compared to the insuarnce you havent had to pay for!

forget about a c.car and just concentrate on the insurance pay out, buy the cheapest snotter in the autotrader/ebay if you are desperate for a car, then buy what you want with the pay out.

chocolate_o_brian

iTrader: (22)

Thanks Alec, I couldn't be arsed typing it out again.

Moley

iTrader: (9)

22 with 2 years NCB shouldn't be £4000, nearer half that, enless you're in a very bad postcode.

This is the reason why i can do traders policies, but refuse to do so.

Too many people trying to beat the system, and it just causes too many problems.

stiscooby

Yep £4k sounds VERY high!!

I had my first scoob at 23 and that was a JDM STI Type R so not the cheapest thing to insure...... cost me about £1,400 at the time (no points, claims or convictions, been driving since I was 17).

That was with Direct Line. I'm now 29 so this was a few years ago but even with the price increases over the years it shouldn't be anywhere near £4k, you must have points/previous claims or something?