Named driver no claims discount question

Jaffa_pig

Hi, my husband has just retired and we are selling both our cars and upgrading to one newer one. The car insurance on the new one will be in my husband's name, with me as a named driver. I am concerned that at some time in the future if my husband dies and I have to insure the car, I will have lost my no claims discount. We have found a couple of companies that offer a named driver no claims discount, but it would mean sticking with one of these companies for the foreseeable future, rather than changing every year to the lowest quote. My question is is it worth doing that, or will we save more money in the long run by just changing companies every year? My husband wants to go for the lowest each year, but I am concerned that if something happens to him, I will have very limited income and won’t be able to afford car insurance without a hefty no claims discount.

DullGreyGuy

NCD "lives" for 2 years after the date its issued and so the most common approach is to shop around each year and just switch who the policyholder is and therefore you both retain your current NCD.

In many cases an insurer is also compassionate in the case of a widow(er) and will allow them to take over the NCD but you may not want to rely on compassion if you have other options. 

ND NCD is ok but it typically locks you into that insurer and the economies dont always stack up. With many insurers giving an introductory NCD to customers with a clean history and NCD discounts being much smaller than they traditionally were (vast majority of people are on 4+ years) then shopping around is often cheaper even with no NCD

maisie_cat

We swap the main driver/ named driver every year.
In reality the driving is 50:50 but the insurance industry appear unable to deal with that.
The difference in premium is miniscule for swapping in our case.

tripled

Swop the policy holder every 12 months and you will both keep your respective NCD's. The policy holder does not need to be the person named on the V5C (aka logbook), nor needs to be the main driver. Just make sure you make the correct declarations during the quote process.

Jaffa_pig

Great, we will swap every year then. Thank you everyone that was very helpful