Insuring a car that doesn't exist

PDC

Interesting reading this, several years ago I sold a car, I didn't have a replacement car and no short term plans of getting one.

The insurers when I contacted them to cancel the policy, a big High Street brand, advised I carried on insuring the car with them (that I no longer owned) to the end of the calendar year in order to get another years no claims bonus.

davemorton

Richard53 wrote: »

I've had a motorbike and a car (sometimes more than one of each) on the go at the same time, and I have never been able to use the NCD from a car against a bike policy, or vice versa. I assume the insurance industry treats them as separate entities.

Im sure I used no claims from a bike onto a car in the past..could be mistaken though, things do get foggy as the years go on.

Edit: Yes, thought you could.
https://www.moneysupermarket.com/car-insurance/articles/bikes-cars-and-ncds-where-do-you-stand/

Le_Kirk

PDC wrote: »

Interesting reading this, several years ago I sold a car, I didn't have a replacement car and no short term plans of getting one.

The insurers when I contacted them to cancel the policy, a big High Street brand, advised I carried on insuring the car with them (that I no longer owned) to the end of the calendar year in order to get another years no claims bonus.

How many times do we read on this forum that it is imperative that you cancel your insurance when you sell your car. The reason is that if the buyer decided not to insure it and had an accident, third parties could come after your insurance company for payment!

TonyMMM

neilmcl wrote: »

If your friend was not fully truthful in the statements he made, which I suspect he wasn't, then no matter how you slice it he too would have been committing fraud at the time.

There is/was such a thing as a "laid up" insurance cover for vehicles never driven but these have to be garaged and I'm not sure if they count towards your NCD.

No fraud - he owned the car, which existed (although not driveable) and was registered in his name. I don't know exactly what questions were asked, but at that time I suspect far less than now..... I seem to recall that it was suggested and arranged by an insurance broker

Blibble

Isn't the whole idea a complete false economy here? Why pay the extra 1 year premium at, say, £200, for a discount the next year of £40, £30 the year after, and £20 after that?

Hypothetical figures, but I struggle to imagine you'd be in profit come the scheme's conclusion anyway.