ken555
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 posted on 19/3/15 at 11:29 AM |
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Putting NCD on "retention"
My tintop insurance is coming up for renewal, as it's got a broken engine and I'm planning to sell it as spares/repair. I'm
thinking not to renew the policy (it's been SORNed since Sept). However I have 10+ years of NCD built up.
What do I need to do to make sure that when I insure it's replacement I don't have to start again.
Do I need proof from the current insurer that I had the years, or will the renewal document still work in a few months time ?
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Tiger Super Six
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| posted on 19/3/15 at 11:51 AM |
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You need to get written proof of the NCB from the current provider and I believe it remains 'valid' for 2-yrs. If you don't use it
on another policy in that time then you lose it.
Mark
Tiger Avon
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Slimy38
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| posted on 19/3/15 at 12:20 PM |
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I cancelled my insurance after getting a company car and selling my own, I got a statement saying how many NCD bonus I'd built up. As mentioned
it is only valid for 2 years, and I've not yet figured out a decent approach to 'refresh' it.
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CosKev3
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| posted on 19/3/15 at 12:31 PM |
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Iirc some insurance company's will only allow you 12 months without insurance to carry over ncb.
I've got a Sierra log book if somebody wants to insure that to preserve ncb 
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lsdweb
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| posted on 19/3/15 at 02:05 PM |
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I almost lost my bike insurance as the company insisted I hadn't had insurance for over two years. I had to send them last year's
documents (that they had sent me!) to prove it hadn't lapsed (about 9 months without insurance).
Two years seems to be the cut off point.
Wyn
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Slimy38
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| posted on 19/3/15 at 04:17 PM |
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quote:
Originally posted by CosKev3
Iirc some insurance company's will only allow you 12 months without insurance to carry over ncb.
I've got a Sierra log book if somebody wants to insure that to preserve ncb
It's the 'receiving' insurance company that says how long they will accept NCB for. I guess after 12 months the field gets smaller,
then after 2 years you're restricted to a handful of insurers who are a bit more flexible.
Mmm, I wonder if I could insure my donor. It's not registered as scrapped, but it is SORN. You can insure a SORN car can't you?
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SteveWalker
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| posted on 19/3/15 at 05:02 PM |
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When my wife was unable to drive through I'll health, we sorned her car and phoned to cancel her insurance; instead they offered her fire, theft
and damage only for seven pounds a month - she continued to build up no claims while on this.
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CosKev3
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| posted on 19/3/15 at 05:03 PM |
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Yeah
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Slimy38
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| posted on 19/3/15 at 05:44 PM |
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Mmm, £117 a year to insure a number plate and some rusty parts... fully comp as well!!
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owelly
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| posted on 19/3/15 at 06:23 PM |
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I reduced my kit cars policy to 'storage only' which cost £40/year. It kept building NCB and appeared on the MID as insured!!
http://www.ppcmag.co.uk
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