Car Insurance question over NCB transferring

laticsforlife

My Axa policy expires on 20/04.

I'm getting a new car tomorrow 05/04.

I'm keeping my old car until sold (and think I can still drive it legally Third Party on either policy - in reality to my mothers driveway until sold).

To change my current policy to new car is £12 (for 15 days!).
To renew on the 20/04 with new car is £300.

To buy new policy today via Gocompare is £188 (either from the 05/04 or the 20/04 date makes no difference - but I'd much prefer to be driving Comprehensive insurance cover with GoCompare rather than 3rd party on old policy).

My question is do I need to cancel my old policy in order to transfer its NCB across to the new one (when they ask for proof), or can I simply wait for it to laopse and then ask them for proof of NCB and that will suffice as it won't show much more than I have x years NCB.

Essentially it looks like I have 2 policies for 15 days that both benefit from the NCB.

I'd appreciate a quick reply so I'm not illegal or totally messed up what I need to do.

laticsforlife

NB Just found out that I cannot drive my old car on my new policy as its owned by me, that extension is meant for when driving somebody elses car - so it looks like my wife can drive it as I own it.

it shouldnt matter much as it should only be needed for a quick test drive and hopefully the prospective buyer will have DOC extenstion.

But my other question remains - should I cancel or allow to lapse?

Quentin

You need to cancel your old policy and get your new policy to start from the cancellation date.

If you do this then note that you won't get any ncd awarded for the unfinished year on your old car's policy

laticsforlife

Thanks; I have about 13 years anyway so not too worried about missing this one.

I will ring Axa and cancel it.

System

laticsforlife wrote: »

so it looks like my wife can drive it as I own it.

Assuming she has her own insurance policy and her DOC extension hasn't got spouse's vehicle exclusion as is becoming more common

InsideInsurance

Couple of things:

1) NCD can only be used on one policy at a time and typically you cannot take it "off" a policy mid term. So unless you cancel your current policy you are unlikely to be able to use it on a new policy until the old one stops.

2) Any vehicle that doesnt have a SORN declaration now must legally have insurance on it

3) Driving Other Cars only covers the policyholder, not named drivers, and only for vehicles not owned by them or hired to them. Insurers are trying to lock this down so some have other clauses as well meaning partners cant own the vehicle too etc

The only way to have both cars benefit from the NCD at the same time is to have them both covered by the same policy, so in other words add one of the cars to the others policy as a Temporary Additional Vehicle

laticsforlife

Point 2 is madness.

I'm selling the car and to return the tax disc makes it far less saleable, but to not do means I cannot SORN it, crazy.

The Temporary Additonal Vehicle idea is quite a good one, will that cost?

Quentin

laticsforlife wrote: »

Point 2 is madness.

I'm selling the car and to return the tax disc makes it far less saleable, but to not do means I cannot SORN it, crazy.

The Temporary Additonal Vehicle idea is quite a good one, will that cost?

There will inevitably be a cost for adding a temporary vehicle.

As far as continuous insurance is concerned the practicality of it is that you do get some unofficial "days of grace" between removing insurance cover and getting a fixed penalty for no insurance (assuming the uninsured car is kept off the road)

The way it works is the computer flags uninsured vehicles and you get sent a warning letter to get it insured, and only if you subsequently ignore this do they penalise you.

So if you dispose of the car within a couple of weeks you won't get bothered.