No Claims Bonus Question

tigerdragon

Hi all,

I'm off on a 9 month trip in 3 weeks time, and one of things I'll be doing because of this is selling my car, as I don't want to have to insure it and leaving it to further de-value while I'm away.

At the moment I have a full 5 years No Claims Bonus (NCB), which makes a pretty significant difference when getting insured for the year, so I really can't afford to lose this.

What I was wondering was what happens to my NCB when I sell my car and cancel my current policy? Normally when getting car insurance your NCB just gets transfered from your previous/current insurer to the company you'll be going to for the following year - but what happens when you cancel your insurance altogether? Obviously there is no one for it to be transferred to, so does it just go into the void and you lose it completely? ...or will it simply carry on as normal when I get a new car and come to insure it in 9 months time?

Thanks

impy78

Your ncb is valid for two after the cancellation/expiry of your last policy, so you will be fine... just make sure you get it in writing before you go!

iceicebaby

Hiya

When you cancel your policy, your NCB will be as it was at your last renewal as long as you havent made a claim or had a claim made against you of course.

Most insurers will recognise a NCB that is up to 2 years old, some even go to 3, so 9 months should be ok.

When you cancel your policy make sure that you get the insurance company to send your no claims bonus out to you. When you come back and you get more insurance, they will ask you gow many years NCB you have and when that was they will then ask you to send proof of this in. As i said most insurers recognise up to a 2 year gap so 9 months should be ok