Maintain no claims bonus

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Sat 20 Aug 2016 20:59
Maintain no claims bonus - threes

Hello. I've not had an insurance policy for ~18 months, so my 10+ years no claims is going to expire in 6 months due to the 2 year rule employed by most insurers.

Am planning on buying a car sometime next year and have got some quotes with/without no claims history: it's ~£250 more per year if I dont have any no claims history.

Co-op currently do honour up to 3 years no claims history gap, but they would not provide a qoute online, so I'm no going to rely on them still doing the 3 year thing, or providing me a quote when i need it.

I think my options are:

1. Take a policy out on my wife's car. As her policy is 4 months old, there would be some cost to cancelling it. Although the annual premium is ~£50 cheaper for me insuring it.

2. Buy an old cheap (low insurance group) car, park it up and insure it. It seems the cheapest insurance quote I could get was ~£150 for something like a polo, panda, etc.

Option one would probably work out cheapest, but is a bit of hassle and ideally my wife wants to keep her own policy going.

For option 2, if i can find a cheap car, for around £50 it may be easier.

What I actually need is just a V5, and not an actual car ! Not sure if I can just buy one of those though ....

Welcome any suggestions.

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Sat 20 Aug 2016 21:18
Maintain no claims bonus - RT

When I had a company car, I was always keen to keep NCD on both my policy and my wife's - so her car insurance alternated between her name for two years, with me as named driver and then in my name for two years, with her as a named driver - in both cases I actually drove her car more miles/year than she did so simply declared I was the main driver.

When I retired we reverted to insuring each car conventionally, with me still declared as main driver on both cars but lost the NCD when we upsized to one car.

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Sat 20 Aug 2016 22:04
Maintain no claims bonus - threes

That would certainly have been the best way to do it, but unfortunately my 2 years is up before my wife's is due for renewal. So I would have to cancel it, paying whatever charge there is for that, if I went down that route. I'll get a figure for this so I can compare the two options ...

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Mon 22 Aug 2016 00:17
Maintain no claims bonus - Cyd

Why not look on eBay for someone breaking a small cheap car like a C1/Aygo or something and contact them to see if they'd sell you the V5?

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Mon 22 Aug 2016 16:44
Maintain no claims bonus - threes

Cost to cancel wife's policy was £50, with the balance returned pro-rata. My quote for a policy on her car was £100 cheaper than what she originally paid. So ... I think I'll go with that option.

Thanks.

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Tue 23 Aug 2016 08:20
Maintain no claims bonus - MikeRovie

Option 2 sounds like a good idea. I wish I had thought of that!

I've not been driving for a few years now so don't have any NCB, now I'm trying to get inurance and it's expensive as hell.

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Tue 23 Aug 2016 10:04
Maintain no claims bonus - slkfanboy

When I went from company car back to private, that took into account some the time I had the company car and gave me 3 years NCD.

So I would checkout that option first

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