Temporary Insurance
Discussion
Hey all, has anyone experienced this/come up with a solution?
I have a potential buyer for my Vette, but his insurance company says they can't insure him on the car for one day (so that he can test drive her) because [quote] "the car is already insured by me". I don't remember this ever being a problem when I would insure myself on loan cars from garages.
Needless to say my insurance company (Adrian Flux) say the exact opposite, that the underwriter doesn't allow for temporary drivers to be added.
Call me daft, but there's no way I'm going to let someone I've never met before drive my Z06 on 3rd Party Insurance alone.
Anyone have suggestions for options? Are there companies that offer temporary insurance for cases like this?
-kenski
I have a potential buyer for my Vette, but his insurance company says they can't insure him on the car for one day (so that he can test drive her) because [quote] "the car is already insured by me". I don't remember this ever being a problem when I would insure myself on loan cars from garages.
Needless to say my insurance company (Adrian Flux) say the exact opposite, that the underwriter doesn't allow for temporary drivers to be added.
Call me daft, but there's no way I'm going to let someone I've never met before drive my Z06 on 3rd Party Insurance alone.
Anyone have suggestions for options? Are there companies that offer temporary insurance for cases like this?
-kenski
I've always thought there should be a standard form that potential purchasers buy accepting all liability for accidental damage prior to a test drive, and guaranteeing a certain level of capability (i.e. no driving ban, passed test, insured on another car etc)but I'm not aware of anything like this. Should be though, I'm with you on this one 
It's a perennial problem. Most traders have a policy that allows anyone to drive any car with their permission. Private policies don't allow for this so they have to drive the car on their own insurance 3rd party. If they crash it and you can prove negligence, you can sue them for the damage as they presumably have the money. Optionally, you can ask for a security of say £5000 in the event it is damaged during the test drive.
In my experience, most test drives don't actually involve booting the car or abusing it, it's just to satisfy the buyer that it pulls cleanly through the rev range, doesn't clunk or squeal and stops and shifts as it should. For a car like the Z06, they should know if they want it and know what it's like in broad terms - the mags give the figures - so there's no need to permit a buyer to drive it like an idiot.
In my experience, most test drives don't actually involve booting the car or abusing it, it's just to satisfy the buyer that it pulls cleanly through the rev range, doesn't clunk or squeal and stops and shifts as it should. For a car like the Z06, they should know if they want it and know what it's like in broad terms - the mags give the figures - so there's no need to permit a buyer to drive it like an idiot.
I'm see-sawing on this. Following anecdotal advice I'd go along with the idea of letting them drive it 3rd party but then when I read stuff on autotrader, top gear etc they all say not to let anyone near your car unless they can provide proof that they have adequate insurance to cover any potential damage.
Does anyone really ask for a £5000 deposit before a test-drive? Does anyone really agree to this?!?
Does anyone really ask for a £5000 deposit before a test-drive? Does anyone really agree to this?!?
Not to worry you, but have a look at the fine print on your own insurance policy with regard to theft, the first policy I had said that it specifically excluded theft if the car was stolen during a test drive before a sale !
I think this was due to a rash of people saying that a car had been stolen from them at knife point when being test driven before purchase, then the car would be found wrecked and the alleged thief long gone - the insurers thought they were being scammed by the vehicle owner and his mates, and they were probably right !
I think this was due to a rash of people saying that a car had been stolen from them at knife point when being test driven before purchase, then the car would be found wrecked and the alleged thief long gone - the insurers thought they were being scammed by the vehicle owner and his mates, and they were probably right !
Gee, and I thought the only thing to worry about when selling was scammers trying to pass off dodgy bankers drafts!
Now I could be held at knifepoint, have the car stolen, wrecked, and get nothing from my insurance.
Well, I've phoned several insurance agents, all of whom said that they don't do test drive insurance. Some of them 'confirmed' that 'some companies' do, but they're not allowed to recommend and hence cannot provide me with names/contact numbers. Catch 22.
Then again, I've also been told that it's not possible to get more than one insurance policy for any single vehicle.
Now I could be held at knifepoint, have the car stolen, wrecked, and get nothing from my insurance.
Well, I've phoned several insurance agents, all of whom said that they don't do test drive insurance. Some of them 'confirmed' that 'some companies' do, but they're not allowed to recommend and hence cannot provide me with names/contact numbers. Catch 22.
Then again, I've also been told that it's not possible to get more than one insurance policy for any single vehicle.
Found out last night that one of the American car importers/sellers are charging £100 for a test drive in the new Mustang and obviously you get that back if you buy one!
In your case perhaps you should take the guys keys to his car and hold them as a deposit against safe return of your Z06.
In your case perhaps you should take the guys keys to his car and hold them as a deposit against safe return of your Z06.
That sounds a little far fetched, that he can't transfer his insurance. If he's sold his previous car then he must have a policy sitting dormant that he can transfer. Or even if he's cancelled it he could take out another policy, and then cancel policy after test drive. Most insurance companies offer 14/28 day think about time.
I'm never happy with interested buyers who aren't 100% committed to the car they want to see. Most of us convince ourselves well in advance that the car is what we want, if we're serious. I had someone who wanted me to travel about 80 miles as he'd tried a normal Corvette and wanted to try a Z06. The answer was no as he had no real desire for the car. I'll pass rather than entertain tyre kickers every time.
LuS1fer said:
I had someone who wanted me to travel about 80 miles as he'd tried a normal Corvette and wanted to try a Z06. The answer was no as he had no real desire for the car. I'll pass rather than entertain tyre kickers every time.
Sounds like the same guy (from Crewe). Initially he wanted me to drive up there to show him (no), then meet him in Rugby (no) and eventually I compromised on going as far as Watford to show him the car, but only so that I could visit my sister at the same time.
I'm a busy person (the reason I'm parting with her in the first place) and so I can't just drop everything and drive all over the country on the whim of every potential buyer. I'm sure ultimately he was looking to buy a car (though he admitted he wasn't sold on Corvettes, so I suggested to him that he go to a local dealer (BM, say) and test drive one there first before wasting both our time).
In any event I've blown him off now, anyway, because of the insurance issues (and surprisingly I don't feel bad about it!).
-kenski
I don't know I'd go as far as 'tosser' 
He didn't seem particularly invested/enthusiastic about what he was getting, though.
I can understand why someone would be skeptical about buying a Corvette considering the bad press they often get from JC and his cronies. At the same time I don't think he was particularly into the whole process that he was willing to make any effort whatsoever.
His loss, frankly. Like so many 'esoteric' things you don't have a clue what Corvettes are all about until you own one :-)
-kenski
He didn't seem particularly invested/enthusiastic about what he was getting, though.
I can understand why someone would be skeptical about buying a Corvette considering the bad press they often get from JC and his cronies. At the same time I don't think he was particularly into the whole process that he was willing to make any effort whatsoever.
His loss, frankly. Like so many 'esoteric' things you don't have a clue what Corvettes are all about until you own one :-)
-kenski
Was he Roger from Nantwich who just sounded very dry and unenthusiastic the whole thing? He may have been extremely enthusiastic and hidden it well, I know not. LOL. Wanted me to drive to Hereford but it's hardly more bother to come to Cardiff. Why put two people out when one has to put himself out anyway. I'm not sure why Watford is better than a train from Crewe to Cardiff. Anyway, he hasn't rung back and as I'm not that bothered if I sell or not, I don't really care. He said he'd driven a normal C5 but had been told the Z06 was a whole different car. I explained the differences and you'd think that would be enough to make a decision.
I bought my first Corvette from Bath and went to see it at the guy's house. I went to see three different F-bodies in London, by car, by arranging to see them all on the same day and bought one in Central London the same day.
The current Z28 I went to see by train as I'd sold my car. I met the guy at Gatwick where I'd arranged to meet him as he lived minutes away. In the end, his Z28 was "suspect" so I rang another one in Classic American which I knew was local and got him to meet me at a railway station on the way home which was again a matter of a few miles. I knew I wanted to buy the car and had the cash on me and less than an hour later, he'd sold his car to me for £2500 less than the other one. Drinks all round.
So the moral is that if you're not sure you want a car, don't waste the seller's time. At least research it via the specialist forums to determine if it's what you want. If it doesn't excite you, forget it and move on. The only time I've ever asked anyone to do anything for me was a lawyer in the States selling a 2001 Z06. I said I'd have it if he dropped the car down to my agent's house in Baltimore, a matter of 15 miles or so. He told me he was too busy so I told him to stick his car. Some people! Mind you, I think I'd be a bit "iffy" if someone from the US rang up wanting to buy my car in the UK. LOL.
I bought my first Corvette from Bath and went to see it at the guy's house. I went to see three different F-bodies in London, by car, by arranging to see them all on the same day and bought one in Central London the same day.
The current Z28 I went to see by train as I'd sold my car. I met the guy at Gatwick where I'd arranged to meet him as he lived minutes away. In the end, his Z28 was "suspect" so I rang another one in Classic American which I knew was local and got him to meet me at a railway station on the way home which was again a matter of a few miles. I knew I wanted to buy the car and had the cash on me and less than an hour later, he'd sold his car to me for £2500 less than the other one. Drinks all round.
So the moral is that if you're not sure you want a car, don't waste the seller's time. At least research it via the specialist forums to determine if it's what you want. If it doesn't excite you, forget it and move on. The only time I've ever asked anyone to do anything for me was a lawyer in the States selling a 2001 Z06. I said I'd have it if he dropped the car down to my agent's house in Baltimore, a matter of 15 miles or so. He told me he was too busy so I told him to stick his car. Some people! Mind you, I think I'd be a bit "iffy" if someone from the US rang up wanting to buy my car in the UK. LOL.
Yep, same guy. I think he was trying to play the two of us off against each other a little bit as he said that he ideally wanted a silver one but yours was cheaper (presumably trying to pursuade me to drop my price). I told him that if he wants my car he pays my price, if he wants yours he pays yours. His decision. Maybe he'll start calling you again now :-)
-kenski
PS I think we also both got a call from a lady in Bognor who was 'fascinated' by American cars and who wanted to know if my Z06 was a convertible :-) I think you'd already 'educated' her... perhaps she didn't believe you!
-kenski
PS I think we also both got a call from a lady in Bognor who was 'fascinated' by American cars and who wanted to know if my Z06 was a convertible :-) I think you'd already 'educated' her... perhaps she didn't believe you!
No, he hasn't rung me again. Probably read this! LOL.
Yes, she was a lovely old gal who I was never going to lie to. I told her a Z06 was not what she wanted in any way, shape or form. I think she has some idea that the Corvette is like an SLK. Having said that, if she buys an automatic C5 convertible, good luck to her, Hell's Grannies never looked so good.
Just been reading some sales success stories - the guy from Sweden buying the Callaway and some guy from Scotland buying a Trans Am down south. there are genuine buyers out there who don't think it's a chore to go and see the car.
>> Edited by LuS1fer on Friday 30th September 11:06
Yes, she was a lovely old gal who I was never going to lie to. I told her a Z06 was not what she wanted in any way, shape or form. I think she has some idea that the Corvette is like an SLK. Having said that, if she buys an automatic C5 convertible, good luck to her, Hell's Grannies never looked so good.
Just been reading some sales success stories - the guy from Sweden buying the Callaway and some guy from Scotland buying a Trans Am down south. there are genuine buyers out there who don't think it's a chore to go and see the car.
>> Edited by LuS1fer on Friday 30th September 11:06
Gassing Station | Corvettes | Top of Page | What's New | My Stuff