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No claims bonus discount?
Hi
I have built up 6 years No Claims Bonus but I didn't renew my policy this year as I don't use my car much and was planning to pass the ownership to my dad.
My dad has just added me as a named driver on his policy but I have just thought am I going to pay for this in the long term by not keeping the insurance in my name?
I may have done a silly thing but I thought I'd be saving some money this year to get rid of a car I hardly use.
My insurance was around £300 if I decide I want to build up my no claims' again does it mean I have to start from scratch? :eek:
I have built up 6 years No Claims Bonus but I didn't renew my policy this year as I don't use my car much and was planning to pass the ownership to my dad.
My dad has just added me as a named driver on his policy but I have just thought am I going to pay for this in the long term by not keeping the insurance in my name?
I may have done a silly thing but I thought I'd be saving some money this year to get rid of a car I hardly use.
My insurance was around £300 if I decide I want to build up my no claims' again does it mean I have to start from scratch? :eek:
Achievements:
9 Aug 2021: Achieved a perfect credit score on Experian (999/999 points - Excellent)
Debt free date: 23 July 2021.
Next goals: Save deposit as a first time buyer.
Find ways to increase income
Further reduce budget/ sell old stuff
Goals for October 2018: Eliminate unneccessary spending
9 Aug 2021: Achieved a perfect credit score on Experian (999/999 points - Excellent)
Debt free date: 23 July 2021.
Next goals: Save deposit as a first time buyer.
Find ways to increase income
Further reduce budget/ sell old stuff
Goals for October 2018: Eliminate unneccessary spending
0
Comments
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I believe that for most maintream insurers that if you don't have insurance for 2 years you will lose your NCD. Best bet is to speak to your last insurer and ask them specifically.0
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