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Preserving no claims discount bonus without a car (2 year expiry)
hobbsy - 6/1/18 at 06:55 PM

Hi

Does anyone have any cunning ways to achieve this?

I have a policy in which it will lapse in the future but no vehicle to insure to preserve it. Ordinarily it will lapse after two years.

Ive googled a bit and there are some suggestions you could insure a car twice (I.e one that I don’t own)

Any other ideas?

It’s about eight years worth and I will need it in the future.

nick205 - 6/1/18 at 07:08 PM

Currently being unable to drive or insure due to epilepsy this worries me too. I've now gone just over 3 years and the research I've done indicates I've already lost the 10+ years NCD I had. It seems if I get a license it'll be incurring fairly high insurance premiums.

If you or others have any input I'd be pleased to hear it as well.

hobbsy - 6/1/18 at 07:11 PM

On a random thread somewhere aviva was mentioned as letting you get away with three years but pretty much everything else I’ve read says two.

I’m hoping a broker will comment as there are a few in here right?

martin500 - 6/1/18 at 07:58 PM

My brother wanted to borrow my motorhome but was unable to take out his own insurance because he was told you cannot have two insurance policies on the same vehicle, I questioned this with my own insurers and they agreed.

I wouldn't worry too much about NCD, I lost my NCD on one of my policies after my Land Rover was stolen but when I replaced it the insurance didn't change by much. Annoyingly it meant I lost the NCD on my other 2 policies but that didn't increase them by much either.

hobbsy - 6/1/18 at 08:14 PM

I beg to differ when it's a normal car, i.e. not a classic or a kit or a low risk vehicle like a Land Rover. Lot's of those policies don't require or accrue NCB.


For normal policies 8 years NCB and is likely to give around a 60 or 70% discount vs. having none. Hence I'm keen not to lose it.

CosKev3 - 6/1/18 at 08:27 PM

If you really think it's worth keeping the NCB buying a £100 shitter is probably the easiest way of doing it and insuring that?

jossey - 6/1/18 at 10:30 PM

Insure a kit car for someone mine was £104 a year.

David

HAL 1 - 6/1/18 at 10:58 PM

I also lost my no claims bonus due to illness, and it really wasn't too bad when It came to insurance later, that's on an ordinary car.
I'm guessing that because I didn't lose my licence through a ban then it's different, maybe ??

martin500 - 7/1/18 at 01:03 AM

quote:
Originally posted by hobbsy
I beg to differ when it's a normal car, i.e. not a classic or a kit or a low risk vehicle like a Land Rover. Lot's of those policies don't require or accrue NCB.


For normal policies 8 years NCB and is likely to give around a 60 or 70% discount vs. having none. Hence I'm keen not to lose it.


Maybe it is my age but my BMW 330 insured for 20,000 miles per annum including business use was £220 after declaring the theft of my Land Rover, strangely my kit car with 5.000 miles is the same price.

SteveWalker - 7/1/18 at 09:10 AM

Buy a wreck, keep it off road and sorn it?

If you find the right company you can pay very little insurance and still keep the no claims.

About 9 years ago my wife was unable to drive due to illness. We sorned the car and phoned the insurance company to cancel the insurance (Directline I think). They advised us not to cancel, but to drop the insurance to just cover fire and theft, without cover for driving, which cost about 7 pounds a month. Not only did it maintain her no claims and cover the car in case something happened to it, but it still added fresh years no claims for the two years it was off the road!

chillis - 7/1/18 at 03:47 PM

The whole motor insurance stinks, its always been a licence to print money for the insurance industry. I had a company car and my own, when I had an unfortunate accident in the company car it affected my own ncb
A friend of mine had a company car for five years, when he went back to running his own car his ncb was gone. Apparently the underwriters assume if you are not insuring you are not driving and people stop driving either for health reasons or you've been a bad boy so the ncb is automatically deleted.

nick205 - 11/1/18 at 10:22 AM

quote:
Originally posted by chillis
The whole motor insurance stinks, its always been a licence to print money for the insurance industry. I had a company car and my own, when I had an unfortunate accident in the company car it affected my own ncb
A friend of mine had a company car for five years, when he went back to running his own car his ncb was gone. Apparently the underwriters assume if you are not insuring you are not driving and people stop driving either for health reasons or you've been a bad boy so the ncb is automatically deleted.



I have to agree with this - from my position of not being allowed to drive for health reasons it stinks! They shouldn't assume someones not driving simply because they're not insuring. I only found out after my licence was withdrawn by the DVLA that not having a licence also precludes you from insuring a vehicle in your name. I understand it in some measure, but it also meant SWMBO and I got hit financially when we had to re-insure her car part way through an insurance year

nero1701 - 11/1/18 at 06:23 PM

I’ve a spare car sitting uninsured at the moment. You could insure that if you wanted ? I sure it. Then cancel within the cooling off period ? Drop me a pm. Iirc you don’t need to own the car. It does not need to be at your own address either ?

hobbsy - 11/1/18 at 06:57 PM

That's a very kind offer.

It's not an immediate problem I was just doing the research now in case the solution (like having a buy a car) would take a bit of time.

I might take you up on it if the offer still stands when I do need the solution. Thanks

pmc_3 - 12/1/18 at 12:28 PM

I've got a company car and was worried about losing my NCB. I got Adrian Flux to attach it to my kit car policy, i'm not acrewing more because of the type of policy but it's keeping it live.

morcus - 12/1/18 at 03:26 PM

There is a difference between NCB and your claims history and the second one seems to have way more effect. I know a lot of people who've lost the NCB from things other than claims and its had very little effect. You might find the money you pay to insure something just to keep the bonus is more than you'll save when you get another insurance policy.