NCD for lease car

[wiggy001]

Hi,

Having previously been stung by losing my No Claims Discount when I did not own my own car for several years and finding out far too late they they "expire", I'm keen not to make the same mistake again. As of last week I am named on the insurance policy of my new lease vehicle (through work sal sac scheme) and am also a named drive on my partner's car.

Do I need to do anything (and is there anything I can do) to keep my NCD intact should I decide to buy my own car in 3 years' time and need my own insurance?

TIA

[Magic919]

You could buy a car and insure it. Many insurers will honour up to 2 years with no car. Gets a bit thinned out beyond that.

[ARH]

Or not worry about it as driving record will have far more influence on how much insurance costs.

Try some quotes with zero NCD and some with full NCD. you may be shocked how little difference it makes.

[2 sMoKiN bArReLs]

What can happen, and I've seen it done:

When you cease being on the company insurance get the company write to confirm that you've been on the insurance and have made no claims. (Assuming you haven't ) for x years.

Some insurance firms will accept this.

[wiggy001]

ARH said:

Or not worry about it as driving record will have far more influence on how much insurance costs.

Try some quotes with zero NCD and some with full NCD. you may be shocked how little difference it makes.

Difference between what I have now (3 years NCD due to a break in having my own insurance) and no NCD but driving a company car for the past 3 years is about £70 a year, so not quite as bad as I thought.

[ARH]

wiggy001 said:

ARH said:

Or not worry about it as driving record will have far more influence on how much insurance costs.

Try some quotes with zero NCD and some with full NCD. you may be shocked how little difference it makes.

Difference between what I have now (3 years NCD due to a break in having my own insurance) and no NCD but driving a company car for the past 3 years is about £70 a year, so not quite as bad as I thought.

Yep everyone thinks it makes a massive 40 or 50% difference, but it doesn't. Yet the insurance companies love to take extra payments to protect your NCD, and still put up the price if you make a claim.

[craigjm]

wiggy001 said:

ARH said:

Or not worry about it as driving record will have far more influence on how much insurance costs.

Try some quotes with zero NCD and some with full NCD. you may be shocked how little difference it makes.

Difference between what I have now (3 years NCD due to a break in having my own insurance) and no NCD but driving a company car for the past 3 years is about £70 a year, so not quite as bad as I thought.

Yep dont worry about it and just deal with it at the the time. NCD, and especially protected NCD is nothing to really be concerned with

[Sheepshanks]

ARH said:

Yep everyone thinks it makes a massive 40 or 50% difference, but it doesn't. Yet the insurance companies love to take extra payments to protect your NCD, and still put up the price if you make a claim.

If I say it's a scam one of the insurance company shills on here will pop up to defend them, but it's a proper double whammy if you have a fault claim - not only do you lose some NCD, but also the premium gets loaded.

[Fady]

Sheepshanks said:

If I say it's a scam one of the insurance company shills on here will pop up to defend them, but it's a proper double whammy if you have a fault claim - not only do you lose some NCD, but also the premium gets loaded.

Still more cost effective than getting any damage paid for by yourself though.

[Truckosaurus]

craigjm said:

Yep dont worry about it and just deal with it at the the time. NCD, and especially protected NCD is nothing to really be concerned with

Indeed. You can check by putting in your details on one of the comparison sites and change the NCD to zero and the results are surprisingly similar with and without it. Definitely close enough to make it not worth spending any effort or money to keep it going.

[BertBert]

is my memory of 39 years ago when I bought my first car correct that it used to make a massive discount. Full NCB being something like 65% discount?

[BertBert]

Sheepshanks said:

If I say it's a scam one of the insurance company shills on here will pop up to defend them, but it's a proper double whammy if you have a fault claim - not only do you lose some NCD, but also the premium gets loaded.

I'm not sure I understand the argument though. Yes your gross premium goes up and if not protected you NCD goes down, but they aren't related to each other in some conspiracy way? Just that one event happened that made both consequences happen.

[craigjm]

BertBert said:

is my memory of 39 years ago when I bought my first car correct that it used to make a massive discount. Full NCB being something like 65% discount?

Long gone days. The biggest discounts now are for "new customers only" and its that initial discount price that wipes out any need for NCB when starting a policy. After year one, if you stay with the same provider they will load your policy because they know lots of people wont move so the best way to always get the best price for insurance is to move it every year and take advantage of that new customer discount. There are of course some exceptions to this and I am sure someone will be along soon to say such but in general, for everyday cars thats how it works now

[LuS1fer]

Truckosaurus said:

craigjm said:

Yep dont worry about it and just deal with it at the the time. NCD, and especially protected NCD is nothing to really be concerned with

Indeed. You can check by putting in your details on one of the comparison sites and change the NCD to zero and the results are surprisingly similar with and without it. Definitely close enough to make it not worth spending any effort or money to keep it going.

I agree. I bought a little Panda and as my NCD was in use on another car, it started off at zero NCD and even after 3 years NCD, it's always the same. Protected NCD is pointless because even if you have a claim, you only lose a small percentage of it, not all of it and the hike comes from the increased premium, not the NCD percentage.

[ARH]

LuS1fer said:

Truckosaurus said:

craigjm said:

Yep dont worry about it and just deal with it at the the time. NCD, and especially protected NCD is nothing to really be concerned with

Indeed. You can check by putting in your details on one of the comparison sites and change the NCD to zero and the results are surprisingly similar with and without it. Definitely close enough to make it not worth spending any effort or money to keep it going.

I agree. I bought a little Panda and as my NCD was in use on another car, it started off at zero NCD and even after 3 years NCD, it's always the same. Protected NCD is pointless because even if you have a claim, you only lose a small percentage of it, not all of it and the hike comes from the increased premium, not the NCD percentage.

This was true for me, bought a second car about 9 years ago, had no NCD for it, I have since changed it to another car of similar insurance costs, and the premiums are pretty much the same as day one with no NCD, if you allow for a bit of inflation. This second policy now has 9 years NCD.