Short term car insurance and no claims.

marco_79

Looking for some advice please.

We have two cars just now insured on an Admiral multicar policy. The policy is due to expire on 2nd April.

My job is about to change and I will be working on rotation overseas. We will therefore only need one car moving forward which will be a big saving.

I plan to get rid of the second car one or two weeks into April which means it will only need to be insured for one-two weeks.

What is the best way to do this plus will I lose all my no claims bonus as we will just have my wife's car for the next few years?

Thanks

Marco

Aretnap

Re the no claims bonus, most insurers will recognise it for up to two years from when you last held a policy in your own name. After that it will be gone. If you want to keep it longer than that in case you go back to two cars in future the easiest way is to alternate so that you insure the car one year and your wife insures it the next. That way you can keep both NCBs valid indefinitely - assuming you make no claims of course. Most insurers will be OK with you insuring a car owned by your spouse, but read the questions and assumptions about the owner, registered keeper and main driver carefully when taking out the policy.

Re insuring the car for a week or two - have a look at short term policies, or if you're confident of getting rid of it within 2 weeks consider taking an annual policy and cancelling within the 14 day cooling off period - there'll still be a cancellation fee to pay (maybe £50 depending on the insurer) but it might still be cheaper than a short term policy for two weeks. Or ask your wife's insurer if it can be added to her policy as a temporary additional vehicle.

marco_79

Thank you that is sound advice.

I will speak to them about the temp cover in the first instance and plan to alternate the NCB as you suggest.

Many thanks.

Marco

Quentin

Aretnap wrote: »

......if you're confident of getting rid of it within 2 weeks consider taking an annual policy and cancelling within the 14 day cooling off period - there'll still be a cancellation fee to pay (maybe £50 depending on the insurer) but it might still be cheaper than a short term policy for two weeks.......

There is of course a catch to this wheeze.


Which is if you have an incident you are to blame for during the time on cover resulting in a claim.


Then it will be much more expensive than temp cover (as you'd have to pay for the whole 12 months)