Recently lost job - and company car

cor_blimey

Hi

Not sure if I am posting this in the right section or not, I have recently been made redundant due to 'restructuring' and with it I will shortly lose my company car. I have been on the company car insurance policy for 5 years and have not had any claims or accidents in that time. Previous to this I had accumulated 7 years of no claims discount with my own policy.

The question I have is, will a car insurance company take any of this into account when trying to insure a car which I will (hopefully) be buying shortly? Someone has told me that no claims discounts are only valid if they are continuous and as I have not held my own policy for the 5 years of being on the company policy, the original 7 years are now invalid - is this right?

I would appreciate any advice that can be given, its bad enough losing your job but if I'm going to be paying the same amount on insurance as a young lad does then I'm really going to be stuck. Are there any companies that will take into account the 12 years of claim-free motoring that I have done?

Strider590

I think you can get proof of no claims from your previous employer or their insurance company and your new insurer will accept this.


"restructuring" that's where the management hide under their desks and sack off 2 or 3 people to keep their own job safe.

mb101_2

I didn't know the answer, so looked it up for interest.

According to confused.com:

"If you’ve recently given up your company vehicle, you should be able to use any NCB built up on that car.

But the NCB is only likely to be transferable if you were named on your company’s insurance policy for a particular car and for your use only."

alleycat`

There are insurance companies that will accept company car no claims (they won't also carry your previous 7 years of private).

You'll need a written letter outlining the details of the vehicles and the times covered.

Direct line, as an example, will do this with the right paperwork.

Some others will give you an introductory discount but then put you back at 1 year (watch out for that).

Others will not accept them at all.

Moto2

I got 'awarded' 3 yrs NCD discount (the best offer I had) after I had a letter from my employer confirming 10+ years accident and claim free.

That was 5 or 6 years ago though.

DCFC79

I take it during the 5 years of the company car you haven't had a private policy in place ? If you haven't then yes the 7 years will be of no use.

ilikewatch

To echo what others have said, when I lost my company car 3 years ago Tesco were happy to recognise the 3 years of claim free company car use, but not the preceeding 7 years of private NCD.

Interestingly, Tesco were really funny about the wording of the letter from the company car leasing company (Inchcape). Inchcape provided a letter stating that I had been claim and incident free from 01/01/2009 to 20/01/2012, however, Tesco wouldn't accept this and insisted the letter was re-written to state that I had been claim and incident free for 3 years.