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Putting NCD on "retention"
ken555 - 19/3/15 at 11:29 AM

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 ?

Tiger Super Six - 19/3/15 at 11:51 AM

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.

Slimy38 - 19/3/15 at 12:20 PM

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.

CosKev3 - 19/3/15 at 12:31 PM

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

lsdweb - 19/3/15 at 02:05 PM

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

Slimy38 - 19/3/15 at 04:17 PM

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?

SteveWalker - 19/3/15 at 05:02 PM

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.

CosKev3 - 19/3/15 at 05:03 PM

Yeah

Slimy38 - 19/3/15 at 05:44 PM

Mmm, £117 a year to insure a number plate and some rusty parts... fully comp as well!!

owelly - 19/3/15 at 06:23 PM

I reduced my kit cars policy to 'storage only' which cost £40/year. It kept building NCB and appeared on the MID as insured!!