Maintaining no claims - low cancellation fee 22 August 2018 at 5:30PM in Insurance & Life Assurance 2 replies 467 views

oz0707

I have a vehicle which I earned 2 years no claims on. I have not used it in around 2 years and my NCB discount will expire soon. I may take out a policy and then cancel just to get the benefit of maintaining the NCB although with it only being 2 years the policy cancellation fee would have to be lower than the benefit.

Anyone know who does the lowest cancellation fee with insurers? The vehicle is a 'pick-up' (commercial?) if that makes a difference

Thanks

MovingForwards

Would the NCB still not expire after the original 2 years, even if you placed it on a vehicle the cancelled it shortly after, as you wouldnt have held the policy long enough.

forgotmyname

Yep, the risk is they just return your no claims and wont update the date due to the policy not running for long enough.