Another cancellation question and NCD

JCR

Hi, I took out an insurance policy with Budget last May and paid outright for it. I have just sold the car that was insured with them and have insured my new car with Privilege, who want to see proof of my NCD. I have written to budget asking for them to give proof of the last 9 months or so NCD and telling them that I have sold the car. However, will I still be liable for a cancellation charge even though I paid the total of the policy last year. I hadn't done anything about cancelling it before as I though letting it run its course would be cheaper than trying to get it sorted, but of course the NCD is attached to that car and therefore I do need to cancel. Can anyone advise please.

Hope this makes sense.

Thanks

advantix

I don't think you will get any NCD for the 9 months or so you were insured with Budget.

I also think you will be liable for a cancellation charge, which will be detailed in the doumentation you received with your insurance certificate when you took the insurance out.

I AM NOT AN INSURANCE EXPERT AND I AM SURE SOMEONE MORE KNOWELDGEABLE THAN ME WILL BE ALONG SOON

JCR

I am a bit of a dunce when it comes to these things, but I have proof of NCD for 9 years up until May 2007 then I took out insurance with Budget but had to sell the car before May 2008 and take out another policy as when I spoke to budget in India they couldn't understand what I was saying and vice versa. Will I lose a year's NCD because I was not able to be with then a full year before my circumstances change. Surely not everyone can run their lives so they neatly tie up in a year each time.

I expect it is in their small print about a cancellation charge, I can sort of understand it when you are paying DD and they have things to sort out, but when you have already paid them the full amount it seems a nerve to charge you even more, after all they will probably not reimburse me the couple of months that are paid for.

Sorry I am not having a go here, but I along, with many others find these insurance companies such a pain.

Quentin

If you have proof dated May 2007, then your new company should accept that - especially if you explain what has happened since then.

But why didn't you just notify Budget of your change of vehicle?

JCR

Quentin wrote: »

If you have proof dated May 2007, then your new company should accept that - especially if you explain what has happened since then.

But why didn't you just notify Budget of your change of vehicle?

I tried but there was a communication problem - we ended up going round in circles and I decided perhaps they were not the best company to deal. I have written to them and explained the situation but the time limit I have been given by my new insurance company to come up with the NCD proof will not allow for the time it takes for them to come back to me etc. I will ring my old company again tonight and in the meantime I have also written to my new insurance company explaining again and I could send them the proof I have up to May 2007 and see if that holds them off a bit.

shelly

JCR wrote: »

Hi, I took out an insurance policy with Budget last May and paid outright for it. I have just sold the car that was insured with them and have insured my new car with Privilege, who want to see proof of my NCD. I have written to budget asking for them to give proof of the last 9 months or so NCD and telling them that I have sold the car. However, will I still be liable for a cancellation charge even though I paid the total of the policy last year. I hadn't done anything about cancelling it before as I though letting it run its course would be cheaper than trying to get it sorted, but of course the NCD is attached to that car and therefore I do need to cancel. Can anyone advise please.

Hope this makes sense.

Thanks

You need to get on the phone to Budget and cancel the policy and ask for the proof of NCB to be sent to you. You won't get the 9 months NCB that you have been with them, you only get full years.
You might get a refund on the remaining 3 months but that might be swallowed up by cancellation charges. These charges would have been in the t&c's that you agreed to when taking out the policy so can't really complain about it now.

Also I believe you can't have 2 ins policies on the same vehicle so you need to cancel one or the other.
In hindsight it might have been easier to tell Budget of change of car and let the original policy run then change cos at renewal.

raskazz

Quentin wrote: »

If you have proof dated May 2007, then your new company should accept that - especially if you explain what has happened since then.

But why didn't you just notify Budget of your change of vehicle?

They probably won't accept proof from May 2007 if the OP has explained the situation to the new insurer. They will want to make sure it wasn't affected by any claims on the policy it was held on from then until now.

You will have to cancel the Budget policy; or (as Quentin pointed out) you could just amend the old policy and cancel the new one, and switch at the next renewal.

Quentin

JCR wrote: »

I have written to them and explained the situation but the time limit I have been given by my new insurance company to come up with the NCD proof will not allow for the time it takes for them to come back to me etc.

In that case, rather than end up "losing" any no claim discount through all this, you may consider cutting your losses, cancelling your new policy and remaining with Budget until renewal.

JCR

I may not have made myself very clear (a bit of a failing of mine). I had a Renault Megane which I insured with Budget from May 07 to May 08. I sold this car in February and bought a new car, so am not running two insurance policies on one car. I rang Budget and explained the situation and said could I transfer the policy to the new car and due to communication difficulties I got the impression that I couldn't. So I thought I better find alternative insurance. I did not however cancel this insurance as I thought (as is probably the case) that I would get charged for cancelling it even though I have paid for it.

If I cancel with Privilege the one I have insured new car with, I have probably run out of my 14 cooling period and will have to pay them as well as losing my deposit. It seems that I lose out whichever way I try and play it. I have over 9 years NCD but due to not completing the year with budget it is seemingly impossible to prove it.

raskazz

The real problem is that the Budget policy is still inforce. You have to cancel it to transfer your NCD.

If you're outside the cooling-off period on the new policy then call Budget, cancel the older policy and request proof of no-claims. It may incur a cancellation fee but it will be lot less then the increase levied by your new insurer if they proceed on the basis of 0 years NCD.

Quentin

JCR wrote: »

I have over 9 years NCD but due to not completing the year with budget it is seemingly impossible to prove it.

It won't be impossible, but will take a little time. (eg if you cancel the policy, they will then send evidence of your no-claims).

But you did say:

Originally Posted by JCR
I have written to them and explained the situation but the time limit I have been given by my new insurance company to come up with the NCD proof will not allow for the time it takes for them to come back to me etc.


So there is your dilemma!

As you say this mix up could cost you some money.

You will have to pay a cancellation fee on the new policy, but if you then get your new car covered on the existing Budget policy you won't be wasting that till May as you are currently doing.