Can you transfer no claims to an existing policy?
Discussion
I'm getting a company car, which will primarily be driven by my partner.
This means we'll get rid of her car which she has lots of no claims on. I happen to have a pickup truck which we both drive (like 500 miles a year - max) so could be insured in either of our names.
Is it possible to transfer no claims to a policy once it's started (the pick up is due for it's insurance shortly) - I'm thinking I may insure the pick up in my wifes name, and then transfer her no claims over. Also - is this legal, the V5 is in my name not my wife's but I *think* that doesn't actually matter...
This means we'll get rid of her car which she has lots of no claims on. I happen to have a pickup truck which we both drive (like 500 miles a year - max) so could be insured in either of our names.
Is it possible to transfer no claims to a policy once it's started (the pick up is due for it's insurance shortly) - I'm thinking I may insure the pick up in my wifes name, and then transfer her no claims over. Also - is this legal, the V5 is in my name not my wife's but I *think* that doesn't actually matter...
Should be getting the company car in a month or so, the pickup insurance is due in a couple of weeks. So if I insure her on the pickup, she'd have no no claims on it, for a year (presumably more expensive). Ideally I'd want to transfer the no claims when the company car arrives and we've sold the old car on ebay. Is that not a thing?
One thing that might be worth checking when you initially insure the pickup in two weeks' time, is that insurances usually have a cooling-off/cancellation period which iirc is a minimum of 14 days - you might be able to find one with a longer period, so when you've got the company car you could have the option of cancelling the pickup insurance and getting a new policy with the no-claims. It might also be worth checking the cancellation/policy admin charges on the pickup policy.
I had a car I'd owned for a number of years with full NCB. Hung onto it for a while after I bought a replacement, the replacement was set up with no NCB.
When i eventually sold the first car i asked the insurance company of the replacement if I could transfer the NCB (and I expected a refund).
Yes no problem, that'll be £75 please sir.
Didn't bother and won't ever use that particular insurance company again.
When i eventually sold the first car i asked the insurance company of the replacement if I could transfer the NCB (and I expected a refund).
Yes no problem, that'll be £75 please sir.
Didn't bother and won't ever use that particular insurance company again.
I would check the difference in cost between no NCB and full NCB just to make sure all this is worth the effort. When I first insured my MX5 I had no NCB to use and it has not really got any cheaper in the 8 years I have owned it, the price tends to rise the same amount as inflation each year, even though it now has 8 years NCB. Disclaimer I am old though.
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