How would this NCD senario work?
Discussion
OK so I've had my license since Feb 2010, got a saxo then had a baby so needed a bigger car. I went for an Alfa 156, in June 2010, I had a knock and claimed on my insurance for the damage I caused to the other car. So no NCD for that year, gutted.
Ive still got the Alfa and fingers crossed will be due my NCD in Feb.
Now Im saving for a new car (undecided between a Fiesta ST, CTR or a Leon Cupra R) Ideally, I want to get one before my insurance is up in Feb, hopefully November time.
My insurance is over 10 monthly payments so my last payment will be 21st Nov. The company Im with arent offering a good quote on the cars above so I would be looking to go with another company with my new car. It gets more complicated after Feb as then it will be another insurance company offering a cheaper quote and I will have to choose whether to give up my 4 months towards another years NCD for the cheaper monthly payments or vice versa. Thats another story though.
What Im wondering is if for instance, I was to sell my Alfa in Nov and buy one of the above cars and go with another insurer. I wouldnt be making a claim with my current company as I would have sold the car. Say I was to have an accident with my new car and a different insurance company though, would I still be entitled to my years NCD with my current insurer?
Hope that makes sense.
Lastly, would I legally be allowed to sell the car and carry on insuring it or would I have to keep it until the insurance is up?
Thanks in advance
Danny
Ive still got the Alfa and fingers crossed will be due my NCD in Feb.
Now Im saving for a new car (undecided between a Fiesta ST, CTR or a Leon Cupra R) Ideally, I want to get one before my insurance is up in Feb, hopefully November time.
My insurance is over 10 monthly payments so my last payment will be 21st Nov. The company Im with arent offering a good quote on the cars above so I would be looking to go with another company with my new car. It gets more complicated after Feb as then it will be another insurance company offering a cheaper quote and I will have to choose whether to give up my 4 months towards another years NCD for the cheaper monthly payments or vice versa. Thats another story though.
What Im wondering is if for instance, I was to sell my Alfa in Nov and buy one of the above cars and go with another insurer. I wouldnt be making a claim with my current company as I would have sold the car. Say I was to have an accident with my new car and a different insurance company though, would I still be entitled to my years NCD with my current insurer?
Hope that makes sense.
Lastly, would I legally be allowed to sell the car and carry on insuring it or would I have to keep it until the insurance is up?
Thanks in advance
Danny
No claims discount isn't usually insurer specific, unless it's protected you lose it when you make a fault claim. If you're on a 10-month 'accelerator' insurance package, then I'd check that you're even getting NCB which can be carried to a different insurer - AFAIK they won't all accept it.
Its not an accelerator policy, its a normal 1 year policy, its just the monthly payments are spread over 10 months so Im pretty sure Ill get my 1 years NCD in Febuary.
So you're saying that if I insured a new car with another insurer in say November, if I claimed say in December that I would lose my years NCD with the other company or my NCD full stop?
So you're saying that if I insured a new car with another insurer in say November, if I claimed say in December that I would lose my years NCD with the other company or my NCD full stop?
Are the new insurer going to allow you to apply the year of NCD mid term ?
Whilst you probably should tell them you have sold your car, it isn't "illegal" to not tell them. The problem you will have is that the new owner will try to insure it, and your old insurer may well get told (via MID) that they are no longer on risk.
If you can't apply NCD mid-term, then I don't really understand why you are doing this, most insurers won't take 1 year NCD on 1 policy and combine with another year to give 2 years. i.e. you can't buy 6 cheap cars, insure them all for a year in a shed, and gather up 6 years NCD as a result. At least not that easily !
Be careful with accelerators and PNCD, on renewal the insurer way well says something like "Claim Free Years" rather than "3 years NCD".
Whilst you probably should tell them you have sold your car, it isn't "illegal" to not tell them. The problem you will have is that the new owner will try to insure it, and your old insurer may well get told (via MID) that they are no longer on risk.
If you can't apply NCD mid-term, then I don't really understand why you are doing this, most insurers won't take 1 year NCD on 1 policy and combine with another year to give 2 years. i.e. you can't buy 6 cheap cars, insure them all for a year in a shed, and gather up 6 years NCD as a result. At least not that easily !
Be careful with accelerators and PNCD, on renewal the insurer way well says something like "Claim Free Years" rather than "3 years NCD".
Danny
Looks like you have not earned the 1 year NCD until Feb, so you can't claim it until then.
Either stay with your current insurer until then, and then change or simply get a quote for the new car in November.
But Explain the situation to any new insurer, and if the cost is acceptable go with that and start building NCD again.
Some insurers will give you 2 or 3 years NCD as a start up bonus, so well worth ringing around.
For young drivers try Admiral!!
It's what you are paying that is important, not the NCD at any particular time.
NCD can be a bit of a con-trick in that 70% discount on £1000 gives you £300 to pay.
50% discount on £500 leaves you paying £250! So ring around.
It's the basic premium you need to look at to obtain the overall cost and what you end up paying in the end that counts.
Looks like you have not earned the 1 year NCD until Feb, so you can't claim it until then.
Either stay with your current insurer until then, and then change or simply get a quote for the new car in November.
But Explain the situation to any new insurer, and if the cost is acceptable go with that and start building NCD again.
Some insurers will give you 2 or 3 years NCD as a start up bonus, so well worth ringing around.
For young drivers try Admiral!!
It's what you are paying that is important, not the NCD at any particular time.
NCD can be a bit of a con-trick in that 70% discount on £1000 gives you £300 to pay.
50% discount on £500 leaves you paying £250! So ring around.
It's the basic premium you need to look at to obtain the overall cost and what you end up paying in the end that counts.
Not sure I get what you mean mate? If I carry on insuring my current car with my current insurer, the last payment will be in November but come Feb, as long as I dont claim then Ill have gained 1 years NCD.
If I insure a new car with a new insurance company in November, how would the no claims work with them? Would I get another years no claims next Nov or does it not work like that? Would I get another years no claims next Nov?
2-3 years start up bonus sounds good to me, which insurers offer this?
If I insure a new car with a new insurance company in November, how would the no claims work with them? Would I get another years no claims next Nov or does it not work like that? Would I get another years no claims next Nov?
2-3 years start up bonus sounds good to me, which insurers offer this?
it seems to me you are looking at it the hard way the way i see it you have 2 simple options;
1.) buy the car in november phone up your current insurer and change it over as you will have already paid off the policy you only have 1/6th of the difference to pay so (bearing in mind i have no idea how old you are or what your paying) say you are paying 800 on the alfa and your insurance co want 2k for the new car the difference is 1200 but you would only have to pay 200 for the 2 months anyway
2.) don't buy the car until february I know how you feel when your driving a car you don't like and are waiting for insurance to buy a new one (every time i have ended up just buying it and bending over for the insurance companys) but it is only 2 months
1.) buy the car in november phone up your current insurer and change it over as you will have already paid off the policy you only have 1/6th of the difference to pay so (bearing in mind i have no idea how old you are or what your paying) say you are paying 800 on the alfa and your insurance co want 2k for the new car the difference is 1200 but you would only have to pay 200 for the 2 months anyway
2.) don't buy the car until february I know how you feel when your driving a car you don't like and are waiting for insurance to buy a new one (every time i have ended up just buying it and bending over for the insurance companys) but it is only 2 months
As Snowdude has said, these are your only options.
You will not get a full years NCD in November, you have to wait until February to get it.
So you can't transfer 10 months to another insurer to claim the 1 year NCD.
However, as I said you need to talk to other Brokers, as some will do you a deal and may accept that 10 months and give you a 1 year NCD.
Insurance is not black and white.
When I got a 2nd car, I was given 3 years NCD as a loyalty bonus.
It really is up to the Brokers and Insurers how they get your business.
Have you rung Admiral yet? It's a free phone number, so can't hurt to try.
They were by far the best for my Son when he went solo and came off my insurance.
They were so good I went to them and now have a dual policy from them.
Excess is high, so it's swings and roundabouts I'm afraid with all Insurers.
You have to decide what benefits you want.
For me a high excess is not a problem, but if a £1000 bill would cripple you, then an extra £10/20 a month might be a better option.
So my advice is to workout what you want first, then ring around.
You will not get a full years NCD in November, you have to wait until February to get it.
So you can't transfer 10 months to another insurer to claim the 1 year NCD.
However, as I said you need to talk to other Brokers, as some will do you a deal and may accept that 10 months and give you a 1 year NCD.
Insurance is not black and white.
When I got a 2nd car, I was given 3 years NCD as a loyalty bonus.
It really is up to the Brokers and Insurers how they get your business.
Have you rung Admiral yet? It's a free phone number, so can't hurt to try.
They were by far the best for my Son when he went solo and came off my insurance.
They were so good I went to them and now have a dual policy from them.
Excess is high, so it's swings and roundabouts I'm afraid with all Insurers.
You have to decide what benefits you want.
For me a high excess is not a problem, but if a £1000 bill would cripple you, then an extra £10/20 a month might be a better option.
So my advice is to workout what you want first, then ring around.
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