No claim bonus on another car as soon as i get renewal letter.

Vbuz

Like in title, i was unable to find answer anywhere. I bought a new car two days ago. However i am still insured on my old car until 6th October. This will be my first year of no claim bonus.

I should get my renewal letter approx. 21 days before my policy expires. Renewal letter contain No claim bonus discount proof. Can I insure myself on a new car as soon as i get the letter with no claim bonus proof? Or do i have to wait until 6th of October when my insurance on actual car expires?

Thank you.

EDIT:
Also additional question. Because my car just broke down and i need a car for my work. If i would insure myself on new car without no claim bonus today, would i be able to add my no claim bonus from old car in October? Would it lower my price? Or it would just combine to two years after new one would expire? Thank you.

mattk_180

You normally can't use the No Claims Bonus on another policy until the other one has expired.


If there was only a couple of weeks in it you may have gotten away with it or the new insurer might have agreed that it wasn't a problem.


Seeing as there is quite a gap I think you would have to insurer the new car with no bonus. Once the old car expires in October you can then transfer the NCB to the new car and get a 'return premium for the difference.

Quentin

The answer to both questions is no.

You cannot use your ncd St all until you complete the full year of the policy.

Vbuz

Thank you for your replies. So i understand as Mattk said, I can buy insurance today for 2000 pounds without NCB and then when my insurance on my old car expires i can add NCB from that car to my new car and they will return me some money as the rest of my new insurance would include 1 year NCB?

Quentin

No.

You have no " right" to get any reduction for providing your ncd partway through the policy.

Discuss this with your chosen insurer and if they agree get it confirmed In writing before you buy.

Otherwise you could consider taking out a new policy for the new car and cancelling when your ncd becomes valid. Then starting another policy

Vbuz

I see. You are very helpful, i appreciate that. Thank you. Last follow up question. So i have to buy it now. So i will have one NCB proof from 6th October 2016 and next year another NCB proof from 1 september 2017. Can i "combine" them into 2 years NCB? I know it sounds silly and i guess not but i guess it is worth asking. Thank you.

EDIT:
Or i will be better off cancelling policy after 1 month and insure again with NCB? i paid 430 deposit for first 2 months. NCB gives me 800pounds off. Are there any additional costs for cancelling and insuring agian with NCB?

takman

Vbuz wrote: »

Thank you for your replies. So i understand as Mattk said, I can buy insurance today for 2000 pounds without NCB and then when my insurance on my old car expires i can add NCB from that car to my new car and they will return me some money as the rest of my new insurance would include 1 year NCB?

No I doubt they would do that!. Your best bet is to ring up your current insurance company and change the current policy to your new car.

Quentin

Vbuz wrote: »

I see. You are very helpful, i appreciate that. Thank you. Last follow up question. So i have to buy it now. So i will have one NCB proof from 6th October 2016 and next year another NCB proof from 1 september 2017. Can i "combine" them into 2 years NCB? I know it sounds silly and i guess not but i guess it is worth asking. Thank you.

EDIT:
Or i will be better off cancelling policy after 1 month and insure again with NCB? i paid 430 deposit for first 2 months. NCB gives me 800pounds off. Are there any additional costs for cancelling and insuring agian with NCB?

As above. See if you can add the new car onto your existing policy. Then start a new one when the current one ends.

If this is not possible for some reason then to answer your questions you cannot combine different Ncds as you suggest.

If you start a new policy now then cancel in Oct you will face cancellation charges, and may still have a balance of premium to pay.

If you go down this route check the full cost of cancelling before you give instructions and make sure it's a cost effective exercise

mattk_180

All of the above is correct and things you need to discuss when setting up the insurance for the new car.


Insurers will most likely accept your NCB in October and give you a pro-rata refund for the period of Oct16-Nov17. Providing you have no claims in that time, some insurers will just increase the NCB next October at the renewal as normal, for the most likely reason that the renewals are computer generated and won't be witty enough to pick up that NCB was applied one month after and will just adjust and calculate based on the information on the system at the time of renewal.


That said, you should, of course take Quentin's advice and discuss all of this with the insurer in question to get prior agreement and ask for it in writing, as not all insurers will do anything that has been said and you may need to go down the cancel and set up again option, although in my opinion I think insurers would be OK with you applying bonus mid-term.

Vbuz

Thank you very much everyone, you're a stars! I know everything now cheers!