Selling car - mid way through insurance policy. NCD query

nobile

Hi folks.

I'm looking to sell my car at the end of this month. I'm 6 months into my insurance policy but the premium they've quoted me for my new vehicle is at least £200 higher than the competitors. They'll charge £40 early termination & refund the remaining 6 months, which is fine.

But I had 5 years NCD at the start of the policy - by moving to a new insurer, I will still take across 5 years NCD (not 5.5) and effectively lose 6 months NCD come May 2020?

Is there anyway of still getting my 6th year NCD with the new insurer after 6 months in to new policy (assuming no claim made).

Sorry if that's a stupid question but I'm a bit ignorant when it comes to car insurance

Car_54

Any additional NCD years above 4 (or possibly 5) will have no effect on discounts, so don’t worry about it.

nobile

[quote=[Deleted User];76463831]Any additional NCD years above 4 (or possibly 5) will have no effect on discounts, so don’t worry about it.[/QUOTE]

Cheers!:beer:

Bigphil1474

The norm is ncd of 5 years is the max. I think there might be the odd insurer who count up to 8 years, but don't know of any.

facade

nobile wrote: »

Hi folks.

I'm looking to sell my car at the end of this month. I'm 6 months into my insurance policy but the premium they've quoted me for my new vehicle is at least £200 higher than the competitors. They'll charge £40 early termination & refund the remaining 6 months, which is fine.

Exactly how much extra will your current company charge to change to the new car for the remainder of your policy?


It is going to cost you £40 to save £100 but lose 6 months no-claims as far as I can see, so is 6 months no claims worth £60?

AdrianC

nobile wrote: »

I'm looking to sell my car at the end of this month. I'm 6 months into my insurance policy but the premium they've quoted me for my new vehicle is at least £200 higher than the competitors. They'll charge £40 early termination & refund the remaining 6 months, which is fine.

But I had 5 years NCD at the start of the policy - by moving to a new insurer, I will still take across 5 years NCD (not 5.5) and effectively lose 6 months NCD come May 2020?

That's right. You haven't completed the annual policy, with no claims, so there's no year's NCD due for it.

Is there anyway of still getting my 6th year NCD with the new insurer after 6 months in to new policy (assuming no claim made).

Change the car on the existing policy, instead of cancelling and starting a new one.

Have you checked how much difference that year makes to premiums? I'd wager that it's minimal.

alembicbassman

Admiral will suspend the policy and refund you the unused part premium less a £49.50 admin fee

If you buy another car within 60 days they will re-start the policy and just charge you the additional premium with the £19.50 admin fee and refund the £49.50 cancellation fee.

This will keep your NCD active.

nobile

facade wrote: »

Exactly how much extra will your current company charge to change to the new car for the remainder of your policy?


It is going to cost you £40 to save £100 but lose 6 months no-claims as far as I can see, so is 6 months no claims worth £60?

Update: When I contacted my insurance company they said they would charge £39 +£15 admin fee for the remainining 6 months with the new vehicle, which I'm delighted with and it's cheaper than what the comparison sites were quoting.

So all been transferred across,no interuption in service or change of provider. Thanks for the advice! :T