Insurance - Cheapest way to keep no claims bonus alive after no longer driving

calypsored

Hi

As I understand it NCB run out after 24 months since the expiry date of your last car insurance policy.

My insurance ended in April 2008 at which point I had earned 5 years NCB. I decided to not to renew my car insurance from that date and SORN'd my car. As an aside I have to my suprise got on well with public transport/bicycles etc since then and have absolutely no desire to have to drive again.

However I'm 24, male and live in London so the 5 years NCB knocks down the price of insurance from what is extortionate to something that is manageable so I'm not ready to lose them next month. I'm also moving for work purposes in a years time to the Scottish countryside so may need to have a car then.

How can I go about keeping these NCB going via the cheapest way? I dont want to get an insurance on my SORN car because it is 650 pounds for the year so what other options have people explored.

Would a laid up policy count as keeping my NCB going?

Thanks in advance

calypsored

Can anyone help me with this?

Specifically does a laid up policy (fire and theft only) covering my SORN car thats off the road give me an additional years NCB or prevent my NCB's from expiring due to no use?

The only way at the moment that I can see of keeping these alive is to buy an old 1.0 litre engined banger for 100, insure it for 12 months and then sell it or scrap it - but I'd prefer to avoid this hassle.

Thanks

neilmcl

Can you get someone to put you down as a named driver?

calypsored

No I need to effectively have my own policy within 24 months of my old policy expiring or my NCB expire - if they expire I would have to start from zero years no claims bonus in the future instead of the 5 years I have at the moment.

It is yet another rip off from the insurance companies as just because a driver stops driving does not diminish the quality of their driving ability especially if they have a proven record of being a safe driver in the past. The automatic expiration of NCB after 24 months if unused is just a method of keeping you trapped in the system.

If anyone is wondering why I dont insure my SORN car is because it is a 2.5L saloon which needs repairs to be roadworthy - i'd fork out the insurance if I would actually use the car but at the moment I have no need of a car so just looking at cheapest avenues purely to keep my NCB alive.

december

That would not work (the named driver idea) as it's the policyholder who gets to keep the no claims bonus. The only thing that would work would to be to buy a banger and insure it 3rd party.

aqueoushumour01

buy a very low powered (marketable) banger (not too old though) with 12m MOT and insure that, turning the voluntary excess as high as it goes and not use the car? then hopefully you can sell it for what you paid for it

december

What aqueoushumour said

calypsored

Yeh I'm currently searching for a low powered car in the lowest insurance group and then insure it ... and then put a sheet over and forget about it. Just seems a crazy system to keep me my NCB entitlement - thing is with the scrappage scheme prices of bangers increased and havent yet gone back to where they belong so it is difficult to find that banger with tax and MOT for a 100 pounds

Pincher

calypsored wrote: »

Yeh I'm currently searching for a low powered car in the lowest insurance group and then insure it ... and then put a sheet over and forget about it. Just seems a crazy system to keep me my NCB entitlement - thing is with the scrappage scheme prices of bangers increased and havent yet gone back to where they belong so it is difficult to find that banger with tax and MOT for a 100 pounds

Since you are in London, have a look at zipcar.co.uk or streetcar.co.uk . They will furnish your driving history with the car club, to any insurance company that is willing to look at it. This way, you still get to drive, no commitments, other than the £50 annual membership. You can also demonstrate continuous driving experience, as opposed to not having touched a steering wheel for years.

vaio

calypsored wrote: »

Yeh I'm currently searching for a low powered car in the lowest insurance group and then insure it ... and then put a sheet over and forget about it. Just seems a crazy system to keep me my NCB entitlement - thing is with the scrappage scheme prices of bangers increased and havent yet gone back to where they belong so it is difficult to find that banger with tax and MOT for a 100 pounds

Does it need tax & mot if you aren't going to drive it?
Have you checked that a "laid up" policy won't preserve your NCB?
Do all insurance companies lapse NCB after 2 years?
Would a moped & insurance preserve it?

dacouch

Aviva go three years