How To Solve A Problem Like My Car Insurance?

[David87]

As you can see by looking at my Garage section, I currently have no car. My Clio was collected by its new owner on Monday and (naughty I know!) I've only just remembered I still have insurance for it! Problem is I won't be getting another car of my own for around about a year or so and I'll lose my no claims bonus if I just cancel the policy and leave it for all that time without having insured anything. Is there any way to avoid this from happening? Could I just transfer my insurance onto my girlfriend's Ka and leave it ticking over on that? Of course, this would mean that it'd have two insurance policies on it at the same time, but as far as I know you're only not allowed two comprehensive policies. If I just stick third party on it I could keep my bonus and not do anything illegal, non? Anyone have any better ideas?!

[Puddenchucker]

Most insurance companies will honour NCB entitlement (whole years only), providing the policy it it was last used on expired less than 2 years ago.

[David87]

Ah, I didn't know that. Might not need to worry then!

[jonnydm]

As far as I'm aware, you can't have two insurance policies on one car as you've said, although I'm not aware of any differences with regard to one TPFT and one comprehensive. Most insurance companies will give credit for no claims bonus that has been accrued even if no car has been insured by the policy holder for up to a year or two. As far as I can make out, you also want to benefit from the bonus that you'll be due at the end of your current policy.

Perhaps its worthwhile buying something small and cheap to insure for a few hundred on ebay?

[DrDeAtH]

suspend cover until you find another set of wheels? (not cancel insurance)

[jonnydm]

DrDeAtH said:

suspend cover until you find another set of wheels? (not cancel insurance)

OP said he won't be getting a new car for about a year. I've done this in the past but I think an insurer will only do it for about a month or so.

[eldar]

jonnydm said:

OP said he won't be getting a new car for about a year. I've done this in the past but I think an insurer will only do it for about a month or so.

Depends on the insurer, some will do 3 months. Ask them, maybe.

[mike9009]

Tis true what others have said. I was banned for 18 months due to a medical condition. Firstly had my car insured whilst not driving - until I sold it and driving ban confirmed by dvla. Thenoff the road for 18 months and then back again with the same no claims. I think admiral did all this for me without any hassle.

Mike

[David87]

Thanks for this, guys. I'll just cancel it and hope they honour the no claims when it comes to reinsuring (aiming for a Caterham 7!). With regards to suspending it, as has been said, it's only really available as a short-term option.

[masermartin]

Just to clarify, it's not the current company that needs to "honour" the NCB, it's the new company. Just get your current insurer to send you a letter with proof of your NCB, file it away, and send it off pronto to your new insurer when you get another car. Let them know when you confirm the quote that it's a year or so old, but most decent insurance companies will honour it. I'm just doing that now as it happens.

[Jasandjules]

I think it lasts about three years (at least it did when I had classic insurance on my TVRs as I managed to lose my NCB!)

[thinfourth2]

David87 said:

Thanks for this, guys. I'll just cancel it and hope they honour the no claims when it comes to reinsuring (aiming for a Caterham 7!). With regards to suspending it, as has been said, it's only really available as a short-term option.

be careful as alot of caterham 7 policies don't build up a no claims bouns

But on the upside i spent £130 last year on my caterham insurance

[masermartin]

Not sure it's just limited to policies for Caterfields. If you put your car on a modern classic policy where they effectively "match" another NCB from (for example) your daily driver car, then they don't accrue an extra NCB year even if you have no accidents. I just found this out the hard way, hence I'm badgering Direct Crime for my previous year's NCB proof at the moment