Vehicle RFL and Insurance

[kelly58]

Advise please . We have just sold our Motorhome and just awaiting payment and collection which is presently SORN ,  I will put a RFL on it as part of the deal for the new owner to drive home. When I mentioned this to the guy at the local Post Office he said this action is not legal , but I cannot see why if I tax it as my own vehicle surely I am able to include the RFL in the deal.

Secondly , because we do not take delivery of the new motorhome until March and the current insurance is valid until September do I cancel the insurance and take out a new policy on the new purchase date or just keep it in force until the delivery of the new one or just ask for the insurance to be suspended.

I hope you can make sense of my post.

[docted]

So long as you tax it before selling it nothing illegal.

Speak to insurance company about the insurance they might make a truly wonderful suggestion.....whats that dear flying pigs B-)

[Iain Strachan]

Me thinks you told the guy in the post office too much. The van is still yours so you can just un sorn it by putting a RFL on it as normal, just like you would if you were going to use it say over the winter. When the new owner has paid up and you are happy to release the van get the new owner to fill in their details on the V15 (I still call it a Log book) and send it to DVLA. It will go with a RFL that will still be valid. As for insurance, I would contact your insurer and tell them that you no longer have the vehicle, and look to cancel it until you get your new van, you may well get a rebate. Beware though as just happened to me when I sold my last van privately, and cancelled the insurance on it ,I got a fixed penalty notice for having no insurance on a vehicle registered to me. Because one half of the DVLA database( Enforcement) is quicker than the DVLA database(Change of Keeper).

Hope that helps.

[Tracker]

If the vehicle is taxed you also have to keep it insured as I understand it but taxing it whilst you own it and whilst you insure it is about as legal as you can be.

 

You might find that cancelling your insurance will get you a minimal refund and it might be cheaper to say nothing and just do a change of vehicle when the new van arrives?

 

Look at your policy details for info on early cancellation rates and be aware that if you discuss it with your insurers and they discover that you no longer have a van they may cancel it anyway regardless of what you ask for?

 

You might be able to persuade them to suspend or cancel the policy and apply the 'unused' part of the unexpired premium as an offset against a new annual policy when the new van arrives if you agree to let them hold on to any 'refund' pending re issue of cover?

 

Its a bit of a minefield so be careful how you word it.

[Keithl]

Unfortunately you cannot insure a vehicle which you do not own (unless specifically arranged with insurers) and also I believe it is illegal to have 2 policies in force on the same vehicle. So when you sell your MH you MUST inform your insurer of a change of circumstance and also to enable the new buyer to be able to insure the MH. Whether you then arrange a refund or suspension is for you to discuss with your insurer.

 

Keith.

[RogerC]

Mr Post office man is talking rubbish....just tax it like normal.  The fact that you are selling it matters not a jot.  Regarding insurance the best 'policy' (no pun intended) is to inform your insurance company that the vehicle is sold, that you wish to insure your new vehicle with them and ask for the policy to be 'suspended' until such time as you take delivery/ownership of the new one.  This is the best way to retain the best value from the policy and premium already paid.  Usually a cancellation incurs a bigger loss to you than suspending a policy.

[goldi]

Keithl - 2012-11-23 3:43 PM

 

Unfortunately you cannot insure a vehicle which you do not own (unless specifically arranged with insurers) and also I believe it is illegal to have 2 policies in force on the same vehicle. So when you sell your MH you MUST inform your insurer of a change of circumstance and also to enable the new buyer to be able to insure the MH. Whether you then arrange a refund or suspension is for you to discuss with your insurer.

 

Keith.

Afternoon all,

 

Might I just add to the above that all vehicle ins is registered at dvla now so that when the new owner drives through a camera it will show up as two policies which could mean trouble.

 

 

norm

[Tracker]

goldi - 2012-11-23 4:19 PM

 

Might I just add to the above that all vehicle ins is registered at dvla now so that when the new owner drives through a camera it will show up as two policies which could mean trouble.

 

 

As I understand it, unless the law has changed, you can insure your vehicles with as many insurers as you like and the only crime would be against common sense.

 

However if you make a claim you must only claim under one policy and advise every insurer that you have done so that any settlement payout can be shared by each insurer proportionately?

[tonyishuk]

Slightly O/T

 

From what I have been told the MID system (as used by the police (and on the internet http://www.askmid.com ) only will record one insurer.

 

If by chance you have another / changed / not updated can cause all sorts of problems ending up with your vehicle on a truck and you walking home. If Mr Plod so decides.

 

Rgds

 

 

[goldi]

Afternoon all,

 

It could get tricky if the insurance co do,sent do its bit.

 

 

Norm

[Pete Taylor]

Tracker - 2012-11-23 5:36 PM

 

 

As I understand it, unless the law has changed, you can insure your vehicles with as many insurers as you like and the only crime would be against common sense.

 

However if you make a claim you must only claim under one policy and advise every insurer that you have done so that any settlement payout can be shared by each insurer proportionately?

 

Wrong on almost every count, I'm afraid.

[kelly58]

Motorhome was collected yesterday getting the RFL was no problem as I got it before the sale was completed . I rang Safeguard regarding the insurance . The policy can only be suspended for 1 month , so I had to cancel it with a " £50 " cacellation fee with a £25 refund of same fee if I reinsure in March with them , I mentioned the new owner has insured with Safeguard as I had recomended them and Safeguard then reduced my £50 to £25 , so all in all very pleased with the outcome . Now just got to wait until March for the new motorhome. 

[BGD]

Pete Taylor - 2012-11-27 10:28 PM

 

Tracker - 2012-11-23 5:36 PM

 

 

As I understand it, unless the law has changed, you can insure your vehicles with as many insurers as you like and the only crime would be against common sense.

 

However if you make a claim you must only claim under one policy and advise every insurer that you have done so that any settlement payout can be shared by each insurer proportionately?

 

Wrong on almost every count, I'm afraid.

 

 

I don't believe so.

 

My understanding is that road-traffic-act legislation says a vehicle must be insured, with regard to certian basic risks.

It is silent on how many insurers might together provide that "basket" of basic risks coverage; and also silent on how many additional risks the vehicles owner or keeper may also want to insure.

 

In at least one of the large multi-national companies that I worked in, we self-insured our UK vehicle fleet, rather than using a third party insurance company. And the vehicles were not even "ours"; as just like many other Companies, we rented them on a lease basis.

 

A I understand it, the illegality would be to seek to CLAIM for the same event/risk insured against more than one insurer, NOT to have more than one insurer covering any specific risk.

 

It is also not only the vehicles owner who can insure a vehicle. Vehicles on hire-purchase are just one example. Many people nowadays also rent vehicles under a lease basis, where ownership of the vehicle remains with the leasor.

[PJay]

kelly58 - 2012-12-05 9:03 AM

 

Motorhome was collected yesterday getting the RFL was no problem as I got it before the sale was completed . I rang Safeguard regarding the insurance . The policy can only be suspended for 1 month , so I had to cancel it with a " £50 " cacellation fee with a £25 refund of same fee if I reinsure in March with them , I mentioned the new owner has insured with Safeguard as I had recomended them and Safeguard then reduced my £50 to £25 , so all in all very pleased with the outcome . Now just got to wait until March for the new motorhome. 

 

So waiting for new van, will it be "13" reg? Wonder how many people will want this number??Will be interesting to see if sales of cars will drop until the September change

May be some bargains around in new regs??

PJay

[kelly58]

PJay - 2012-12-05 10:27 AM

kelly58 - 2012-12-05 9:03 AMMotorhome was collected yesterday getting the RFL was no problem as I got it before the sale was completed . I rang Safeguard regarding the insurance . The policy can only be suspended for 1 month , so I had to cancel it with a " £50 " cacellation fee with a £25 refund of same fee if I reinsure in March with them , I mentioned the new owner has insured with Safeguard as I had recomended them and Safeguard then reduced my £50 to £25 , so all in all very pleased with the outcome . Now just got to wait until March for the new motorhome. 

So waiting for new van, will it be "13" reg? Wonder how many people will want this number??Will be interesting to see if sales of cars will drop until the September changeMay be some bargains around in new regs??PJay

Yes it will be a 13 reg no problems there my wife was born on Friday 13th and has been lucky enough to be by my side for almost 50 years

[Robinhood]

BGD - 2012-12-05 9:34 AM

 

Pete Taylor - 2012-11-27 10:28 PM

 

Tracker - 2012-11-23 5:36 PM

 

 

As I understand it, unless the law has changed, you can insure your vehicles with as many insurers as you like and the only crime would be against common sense.

 

However if you make a claim you must only claim under one policy and advise every insurer that you have done so that any settlement payout can be shared by each insurer proportionately?

 

Wrong on almost every count, I'm afraid.

 

 

I don't believe so.

 

My understanding is that road-traffic-act legislation says a vehicle must be insured, with regard to certian basic risks.

It is silent on how many insurers might together provide that "basket" of basic risks coverage; and also silent on how many additional risks the vehicles owner or keeper may also want to insure.

 

In at least one of the large multi-national companies that I worked in, we self-insured our UK vehicle fleet, rather than using a third party insurance company. And the vehicles were not even "ours"; as just like many other Companies, we rented them on a lease basis.

 

A I understand it, the illegality would be to seek to CLAIM for the same event/risk insured against more than one insurer, NOT to have more than one insurer covering any specific risk.

 

It is also not only the vehicles owner who can insure a vehicle. Vehicles on hire-purchase are just one example. Many people nowadays also rent vehicles under a lease basis, where ownership of the vehicle remains with the leasor.

 

I've also driven vehicles self(company)-insured with a "bail bond".

 

AFAIK, neither would it be illegal to claim for the same event/risk insured against more than one insurer as long as you informed each insurer of the circumstances under which case they would share any pay-out between them.

 

It is quite common to have the same vehicle insured on more than one policy (but for different risks). I took a separate "Learner Driver" policy out on my wife's car to allow my son to get driving practice (MUCH cheaper than adding to an additional policy). Hence there were two separate (comprehensive) policies operative on the same vehicle at the same time (but covering different risks).