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Car insurance overlap and no claims bonus
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# 1
jarthurs
Old 10-06-2010, 2:42 PM
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Default Car insurance overlap and no claims bonus

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.
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# 2
Kilty
Old 10-06-2010, 3:53 PM
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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
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# 3
forgotmyname
Old 10-06-2010, 11:45 PM
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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.
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# 4
cyclonebri1
Old 11-06-2010, 9:24 AM
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Quote:
Originally Posted by jarthurs View Post
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.

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.
All that is necessary for the triumph of evil is that good men do nothing

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

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# 5
Quentin
Old 11-06-2010, 10:40 AM
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Quote:
Originally Posted by jarthurs View Post
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?
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).
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# 6
cyclonebri1
Old 11-06-2010, 1:40 PM
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Quote:
Originally Posted by Quentin View Post
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).

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,
All that is necessary for the triumph of evil is that good men do nothing

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

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# 7
Quentin
Old 11-06-2010, 2:17 PM
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Quote:
Originally Posted by cyclonebri1 View Post
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?
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!)
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# 8
forgotmyname
Old 12-06-2010, 2:14 AM
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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.
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# 9
VoucherMan
Old 12-06-2010, 7:43 AM
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Quote:
Originally Posted by jarthurs View Post
The admin fee the old insurance company want to charge me will cost more than the remaining months insurance is worth.
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.
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# 10
ioscorpio
Old 12-06-2010, 7:59 AM
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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.
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# 11
davemorton
Old 12-06-2010, 8:07 AM
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Or take out a one month policy to run alongside on your new car.
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