A No-Claims Bonus question

[quisquose 10]

Okay, I'm, cough, approaching 50, cough, cough, been driving since I was 20 and never had a bump, made a claim, had an endorsement or anything.

 

(this is not boasting about anything, in fact it's probably thinking that I'm a crap driver that makes me safer than average)

 

Needless to say my insurance carries the benefit of full no-claims bonus.

 

Recently I decided to buy a toy, an old classic car, to play with. Probably driving no more than a few hundred miles a year in it.

 

I insured it with a company that specialises in classic cars, explaining precisely what I was going to do with it, and the price was pretty much what I expected.

 

I have just received a letter telling me that my no-claims bonus is invalid, because the evidence I provided was for a different car - the car that I actually drive. The company is telling me that no-claims bonus is applied to each car individually, and not the driver.

 

This seems odd to me, are they correct? I will be ringing them tomorrow.

[HeadingNorth 11]

There's no law that says an insurance company offering you a new policy, must take into account your no-claims bonus from a previous policy on a different car; but they're pretty daft if they don't, because lots of other insurance companies do exactly that and you'll be advised to remove your business to one of them.

[tyon60 10]

no claims bonus cant be used on two cars at once , some insurance companies will mirror your no claims onto a second vehicle but not all , best to shop around

[quisquose 10]

Thanks for your replies. I think the company needs a good talking to, or at least the admin lady who wrote the letter does. I assume she failed to realise that this was a classic car insurance, and my requirements were pretty comprehensively discussed with the guy in sales.

 

That said motor insurance is not something I take much interest in, so may have cocked up. Perhaps I need a good talking to (wife certainly thinks so). I won't mind if the insurance lady decides to decline me though, because I've since found out that I could have bought the insurance much cheaper elsewhere. I didn't really shop around because it was an impulse buy.

Edited April 19, 2012 by quisquose

[Jim Hardie 527]

no claims bonus cant be used on two cars at once , some insurance companies will mirror your no claims onto a second vehicle but not all , best to shop around

 

I think this is a recent development. At one time no insurance companies offered this. It always struck me as unfair but I think it was just another cosy arrangement within the insurance industry.

[kidley 48]

if i have understood you, since when has a car had a no claims bonus

[quisquose 10]

if i have understood you, since when has a car had a no claims bonus

 

Is that question addressed at me? If so, I don't know, that's why I was asking the question. I thought it was the driver that had the no claims bonus, and if he/she made a claim they lost it, whatever car or cars they were driving. It seems that I was wrong.

[kidley 48]

sorry quisquose it was ment for you, i don't understand its the driver who has the no claims bonus, if i buy a new car or old one, i don't take on the cars no claims bonus, but as for insuring two cars ime not sure, my limited knowledge of classic cars regarding insurance is if you are taking/driving them to a show you can insure them for one day?

[medusa 16]

Yes, I think that the issue is that you're already using your no claims bonus on your normal car insurance policy, so since it's already in use the other insurance company won't use it for a second policy.

 

The obvious answer to this is to enquire with your current car insurer to see if they can add your new project car to your current insurance policy, which would bring it under the same no claims bonus as your normal car, without much addition in costs, purely because you won't be using it much.

 

If your current insurer doesn't do multi-car policies then there are plenty that do and I'd suggest organising a new policy to replace both of the policies with one that covers both. If you're not in the habit of making claims then you're making plenty of money for your current insurers, so it is in their interests to discuss with you how they can deprive you of more of your money with which to line their pockets to provide you with cover for both cars rather than just one.

[Bikertec 12]

Best part about that is you have 5 years ncb on your car and 4 years on your bike. Then you go and have a accident and both policies get effected not just the one you had the accident with. Insurance companies make it up as they go along.

[big_g 10]

When did you take out the second policy and can you cancel it due to it being mis-sold? Can you prove it was mis-sold?

 

Unfortunately the NCB transfer is true as I found when insuring a van. However, it seemed to me that most insurers went on risk rather than no claims bonus. This is why they ask how many claims and non-fault accidents you have had. Some will give a free year NCB. My van insurance came out just more than my car insurance - one with 9 years' NCB - one with 1 year.

 

Talking of non-fault accidents, even those push up the price. Someone ran into the side of me (in the van) and this pushed up my premium when I came to shop around for new quotes for the car. However, when it happened I never mentioned it to the car insurance people - I wonder if this invalidated my car insurance?.

 

Also, if you are married - see if it makes a difference adding your other half onto the policy. Strange but, adding the missus on brought my policy down for me.

 

G

[Rupert_Baehr 10]

"When did you take out the second policy and can you cancel it due to it being mis-sold? Can you prove it was mis-sold?"

 

Just tell them they sold you a pup, shout loud and say "I want my my money back"

 

then find an insurer (or a broker) who will actually listen to you and quote you for what you want! - You can hardly blame the insurer for not knowing that you had a very low mileage specialist car which would be used once in a blue moon if you didn't declare it!

 

There are insurers who can provide exactly ehat you want. but (with the greatest of respect to that blind old bugger the Admiral or the Nodding Dorky Dog) they're not at 'the top of the list'.

 

Specialist insurance is not expensive (I pay pennies for some of my vehicles) but it does pay to find insurers who understand the risk!

 

Call around.