Insuring a second car and transfer the no claims bonus, what are my options?

I have a car insurance policy (for my wife and I) for my current car which is 13 years old which is due to expire in a month's time. I am in the process of buying a new car in a week's time and need a new policy for the new car. As the new car is much more expensive than my current one and I understand that the no claims bonus can only be used on one car, so I am thinking of transferring my no claims bonus to the new car to save the premium (I have more than nine years of no claims bonus). It seems to me the options are:
1. Amend the existing policy to the current car so that it will have a modified cover to the expire date without the no claims bonus and then renew the policy after the expire date. For the new car, buy a new policy from the collection date using the no claims bonus. I can buy a new policy from either the existing insurer ( or another insurer;
2. Cancel the existing policy to the current car and buy two separate policies: one for the current car without no claims bonus and one for the new car using the no claims bonus; there will be cancellation charges and I am not sure if it will impact my no claims bonus as I won't get a whole year's cover to count the last year.

3. To avoid the administration fee for either cancellation/amending the policy, keep the existing policy as it is and buy a temporary cover for the new car until the date when the policy for the existing car expires and then buy two new policies: one for the old car without using the no claims bonus and one for the new car with the no claims bonus. Not sure if I can get a temporary cover for about three weeks or how expensive it is.

Which option is better? Any other suggestions?


  • MikeJXEMikeJXE Forumite
    1.7K Posts
    1,000 Posts Name Dropper
    Have a search for multi car insurance where you have more than one car insured on the same policy, you can choose which car uses the highest no claims discount, different levels of covers for each car and could get a financial discount on the second car

    LV do it and probably others too
  • chriswchrisw Forumite
    3.1K Posts
    Part of the Furniture 1,000 Posts Name Dropper
    Are you keeping both cars in the future, is one for your wife? If so, it might be worth her taking her own policy out on one of the vehicles and building up her own no claims.

    Do you mean the new car is more expensive than the old one, or the premium? A new expensive car isn't necessarily more expensive to insure than an old one.
  • mrbustermrbuster Forumite
    10 Posts
    10 Posts First Anniversary
    I kept my old car last year and when insurance was due wife insured it without any bonus 
    same cover for less than the renewal for me 
    I then saved my 9 years  ncd for my other car renewal in November last year.
  • mrbustermrbuster Forumite
    10 Posts
    10 Posts First Anniversary
    Have you got any quotes for new car yet with and without ncd ?
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