Car Insurance Q

[grand 10]

you can only use your no claims on one policy only

[mafya 251]

you can only use your no claims on one policy only

 

Some insurance companies will mirror your no claims bonus...

[Waldo 96]

you can only use your no claims on one policy only

 

Thanks grand.

 

If you don't mind me asking (I'm just curious), how do you know that to be the case? Is there some law somewhere, or is it just standard practice and part of the T+Cs of all insurance companies? Or just some?

 

Thanks.

[grand 10]

Some insurance companies will mirror your no claims bonus...

 

can you name any? that do as i no none

[mafya 251]

can you name any? that do as i no none

 

Liverpool Victoria insurance, I have 9 year NCD on my shop van and also have a separate policy for my private car with a different policy start and end date that they have mirrored my 9yr NCD onto....

 

These also do the same= http://www.brentacre.co.uk/claims-bonus-information/

In the article it does say =

 

We don’t think it’s fair to be paying for a policy on 0 bonus when you’ve earned 15 years NCB on your main car! So we (and many other brokers and insurers) can ‘mirror’ your no claims to provide a discount on the 0 bonus policy as if you had bonus to apply. We’ll still need proof that you have it, but the bonus can stay with your main vehicle.

[grand 10]

well you learn something new everyday how long have they been doing this then

[Cyclone 10]

I have 3 cars in my name, all are insured through different companies and all take into account my NCD.

 

Have you built up multiple NCDs, or explained to them that you are using the NCD more than once, or are defrauding them?

[Waldo 96]

Have to say, I'm surprised this is how it works. I would have thought a person's NCD is a reflection of that individuals likelyhood of making a claim. From a point of view of risk, it would make perfect sense that a person's NCD apply to all policies they take out. I can only think that the reason it doesn't, is down to the insurance companies wanting to maximise how much cash they can get out of us. Is there any other explanation?

 

Also, any comments on my pervious post? Is this a legal requirement for insurance companies to do this, or is a their choice, and only stipulated in their T+Cs?

[Cyclone 10]

AFAIK the entire concept is purely contractual, there's no law that says they must lower prices based on a previous lack of claims (whilst actually having cover).