Insurance for hire anyone in the know??

[Felstmiester]

I was thinking about hiring out some of my vans. Due to the fact my father is in the motor trade we've brought a few vans over the past few months that need a bit of tlc and both tinkered to bring them back to life. The initial plan was to sell them but due to not advertising as I went they've kind of built up to a small fleet.

I've got mates that do all kinds of building trades and a few of them rather than lease or buy a newish van they rent off a company. Most of the cars and vans they hire are mostly older models that are probably worth under a grand. But they charge a fair weekly rate.

I've done a bit of reading up on the net over the past week and it seems the insurance side is a bit of a mystery.

1.car/van cannot be insured by two people apparently?
2. Car/van has to be in insured persons name?
3. Fleet policy is thousands per year.
4. I've read a lot of hire companies do what they call pay as you go insurance. As the hirer you ring and say van reg number ****** is being hired out for a month.

Has anyone had any experience in any of this?

Thanks in advance.

 

[219]

There's nothing to stop two people insuring the same vehicle _ I did that when I loaned one of my cars to my sister a while back - told her to insure while she had it as my insurance didn't cover her .

It is fraudulent , and illegal , though to claim on both policies for a single event .

 

[Felstmiester]

There's nothing to stop two people insuring the same vehicle _ I did that when I loaned one of my cars to my sister a while back - told her to insure while she had it as my insurance didn't cover her .

It is fraudulent , and illegal , though to claim on both policies for a single event .

Yeah we've had this problem before. I've got a traders policy and my son needed a car so insured one I had that was named on my traders. He then had a small accident and it wasn't until then it came to light. Basically it had to be claimed on the traders due to the fact it wasn't supposed to be insured by my son.

This is what I don't want to happen again.