No Claims Discount after first year

hidden1

Hi all,

I purchased my first car and first car insurance in August 2015. So, I am close to renew and already looking at prices.

I have not made a claim since taking out the insurance. I've read I get my No Claims Discount once I've completed the year of insurance.

I'm a bit confused about when I am meant to switch or when I cancel my current insurance, to get my first year of No Claims.

How do I switch providers and still get my NCD? Do I need to renew first then switch?

Thanks

mattk_180

No you can switch without renewing with the existing company.


Get an alternative quote with your 1 year NCD and advise the current insurer you don't wish to renew. When the current insurance expires you can them claim your 1 year NCD and forward it to your new insurer who will give you a sufficient time window to provide this. (They will be aware that the current company will not release the NCD until the policy has ended)

hidden1

Thank you, that makes sense. I can't believe how much cheaper my insurance is a year later!

mattk_180

Yep, stay claims free and your NCD should outweigh any inflation costs.


Should be around 30% discount for your first years' NCD!

societys_child

Most insurers I've ever used, send a renewal invitation a few weeks before renewal is due. This usually states your NCD.

If you switch provider, ensure you're not on auto-renewal.