Your browser isn't supported
It looks like you're using an old web browser. To get the most out of the site and to ensure guides display correctly, we suggest upgrading your browser now. Download the latest:

Welcome to the MSE Forums

We're home to a fantastic community of MoneySavers but anyone can post. Please exercise caution & report spam, illegal, offensive or libellous posts/messages: click "report" or email forumteam@. Skimlinks & other affiliated links are turned on

Search
  • FIRST POST
    • jarthurs
    • By jarthurs 10th Jun 10, 2:42 PM
    • 55Posts
    • 8Thanks
    jarthurs
    Car insurance overlap and no claims bonus
    • #1
    • 10th Jun 10, 2:42 PM
    Car insurance overlap and no claims bonus 10th Jun 10 at 2:42 PM
    My car has recently died on the motorway and the cost of repairing it was too high so I decided to scrap it. I still have five weeks of insurance policy left to run on the scrapped car. Now from experience I once scrapped a car before and because I told the insurance company it was scrapped, they cancelled the policy (10 months in) and the said because the policy hadn't run for the full year I wasn't entitled to the NCB.

    I'm hoping to buy a new car prior to the old policy running out, what is my position with regard to my NCB if I take out a new policy? The admin fee the old insurance company want to charge me will cost more than the remaining months insurance is worth. But if I go with another insurer I'm assuming I cannot claim the fifth year of no-claims I will get when my old policy expires?

    Regards,
    Jason.
Page 1
  • Kilty
    • #2
    • 10th Jun 10, 3:53 PM
    • #2
    • 10th Jun 10, 3:53 PM
    Call them and discuss your renewal for a new car - if it's a decent price then try to get them to waive the admin fee as part of the deal
    • forgotmyname
    • By forgotmyname 10th Jun 10, 11:45 PM
    • 21,865 Posts
    • 8,583 Thanks
    forgotmyname
    • #3
    • 10th Jun 10, 11:45 PM
    • #3
    • 10th Jun 10, 11:45 PM
    You wont be able to claim any no claims from the old company unless you have cancelled the policy.

    Admin fee £20 or so? Cant see why you wouldnt finish the current policy off and get an extra years
    no claims discount.
    • cyclonebri1
    • By cyclonebri1 11th Jun 10, 9:24 AM
    • 11,849 Posts
    • 4,858 Thanks
    cyclonebri1
    • #4
    • 11th Jun 10, 9:24 AM
    • #4
    • 11th Jun 10, 9:24 AM
    My car has recently died on the motorway and the cost of repairing it was too high so I decided to scrap it. I still have five weeks of insurance policy left to run on the scrapped car. Now from experience I once scrapped a car before and because I told the insurance company it was scrapped, they cancelled the policy (10 months in) and the said because the policy hadn't run for the full year I wasn't entitled to the NCB.

    I'm hoping to buy a new car prior to the old policy running out, what is my position with regard to my NCB if I take out a new policy? The admin fee the old insurance company want to charge me will cost more than the remaining months insurance is worth. But if I go with another insurer I'm assuming I cannot claim the fifth year of no-claims I will get when my old policy expires?

    Regards,
    Jason.
    Originally posted by jarthurs

    So you haven't told the insurer the cars gone? Well don't.
    Seems to ensure there is no cost to you, you need to time the purchase of the replacement with the expiry of the current policy, as you say you are hoping to, rather than have, to buy within 5 weeks.

    With only 1 full month to run there will be no refund anyway, due to the "time on risk" factor.
    broken hand, so even worse typing than usual. Now better, still can't play piano tho'

    Will the grammar and spelling police respect I do make grammatical errors, and have carp spelling, no need to remind me.

    Always expect the unexpectedand then you won't be dissapointed
    • Quentin
    • By Quentin 11th Jun 10, 10:40 AM
    • 28,604 Posts
    • 12,966 Thanks
    Quentin
    • #5
    • 11th Jun 10, 10:40 AM
    • #5
    • 11th Jun 10, 10:40 AM
    I'm hoping to buy a new car prior to the old policy running out, what is my position with regard to my NCB if I take out a new policy?
    Originally posted by jarthurs
    Your only options are to either cancel the policy (thereby then getting proof of your 4 years NCD to use now with another company) or to stay with the new company at least till the policy expires (thereby getting 5 years NCD proof).
    • cyclonebri1
    • By cyclonebri1 11th Jun 10, 1:40 PM
    • 11,849 Posts
    • 4,858 Thanks
    cyclonebri1
    • #6
    • 11th Jun 10, 1:40 PM
    • #6
    • 11th Jun 10, 1:40 PM
    Your only options are to either cancel the policy (thereby then getting proof of your 4 years NCD to use now with another company) or to stay with the new company at least till the policy expires (thereby getting 5 years NCD proof).
    Originally posted by Quentin

    You don't need to cancel the policy to get proof of 4 years no claims, you already have that. Quentin, do you mean stay with the "old" company?

    As I said earlier stay with your existing insurer for the few weeks,
    broken hand, so even worse typing than usual. Now better, still can't play piano tho'

    Will the grammar and spelling police respect I do make grammatical errors, and have carp spelling, no need to remind me.

    Always expect the unexpectedand then you won't be dissapointed
    • Quentin
    • By Quentin 11th Jun 10, 2:17 PM
    • 28,604 Posts
    • 12,966 Thanks
    Quentin
    • #7
    • 11th Jun 10, 2:17 PM
    • #7
    • 11th Jun 10, 2:17 PM
    You don't need to cancel the policy to get proof of 4 years no claims, you already have that. Quentin, do you mean stay with the "old" company?
    Originally posted by cyclonebri1
    Yes, for "new" read "old", thank you!

    Regarding getting proof of the 4yrs NCD, I'm assuming this was used to buy the current year's insurance (so is now in the hands of the current insurer) - though if it was just a renewal, then the OP will have that (assuming he kept it safe!)
    • forgotmyname
    • By forgotmyname 12th Jun 10, 2:14 AM
    • 21,865 Posts
    • 8,583 Thanks
    forgotmyname
    • #8
    • 12th Jun 10, 2:14 AM
    • #8
    • 12th Jun 10, 2:14 AM
    He wont be able to use the 4 years no claims on a new policy as its already being used on the old one still.
    • VoucherMan
    • By VoucherMan 12th Jun 10, 7:43 AM
    • 2,297 Posts
    • 4,806 Thanks
    VoucherMan
    • #9
    • 12th Jun 10, 7:43 AM
    • #9
    • 12th Jun 10, 7:43 AM
    The admin fee the old insurance company want to charge me will cost more than the remaining months insurance is worth.
    Originally posted by jarthurs
    Have they actually told you this or is it just from reading the paperwork?
    I was in a similar situation once. Although the small print stated there may be a charge for any amendments to the policy when I contacted them they changed the policy to my new car with no charges & no increase in the premium.
    • ioscorpio
    • By ioscorpio 12th Jun 10, 7:59 AM
    • 2,317 Posts
    • 533 Thanks
    ioscorpio
    I have just changed cars as my 1.2 Punto died on me, my policy runs out in Nov, so I phoned my broker and was charged a £20 admin fee plus £36 for change of car to a 1.3 Suzuki Ignis.
    • davemorton
    • By davemorton 12th Jun 10, 8:07 AM
    • 21,521 Posts
    • 264,398 Thanks
    davemorton
    Or take out a one month policy to run alongside on your new car.
Welcome to our new Forum!

Our aim's to save you money quickly and easily. We hope you like it!

Forum Team Contact us

Live Stats

563Posts Today

4,272Users online

Martin's Twitter