Insurance - NCD when cancelling a policy
Discussion
One for you insurance experts, what's the situation with NCD when you cancel a policy mid-year?
Basic situation is:
Took out a policy (with AXA), in mid-2012, provided them with evidence of 9-years NCD.
Cancelled that policy when I sold the car in march-2013,returned certificate as requested and got email confirmation of returned certificate/cancellation.
Now want to insure a new car and realise I never got a new confirmation of my NCD when I cancelled the policy, but I do still have the evidence from the prior policy (from Admiral,dated may 2012).
So questions are:
1. should I have received a confirmation of the 9-years from the cancelled policy from AXA?
2. alternatively can I/should I simply re-use the older confirmation from Admiral?
Basic situation is:
Took out a policy (with AXA), in mid-2012, provided them with evidence of 9-years NCD.
Cancelled that policy when I sold the car in march-2013,returned certificate as requested and got email confirmation of returned certificate/cancellation.
Now want to insure a new car and realise I never got a new confirmation of my NCD when I cancelled the policy, but I do still have the evidence from the prior policy (from Admiral,dated may 2012).
So questions are:
1. should I have received a confirmation of the 9-years from the cancelled policy from AXA?
2. alternatively can I/should I simply re-use the older confirmation from Admiral?
1. Normally, you have to request but as you cancelled mid term you revert back to your previous NCD
2. Yes.
After 5 years NCD it doesn't really matter as most companies max NCD at 5 years. Even if you have 20 years NCD and have an accident it will revert back to 3 years, as the deduction is made from the companies max and not the actual.
2. Yes.
After 5 years NCD it doesn't really matter as most companies max NCD at 5 years. Even if you have 20 years NCD and have an accident it will revert back to 3 years, as the deduction is made from the companies max and not the actual.
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