11 months NCB ?

[ATTAK Z]

The insurance on my second car is due for renewal next month giving me another year's NCB. If I sell the car now, can I leave the insurance in force till the end of the term to gain this extra year or do I have to cancel the insurance and will I lose the extra year ?

Edited October 21, 2016 by ATTAK Z

[DoogyRev]

i think you have to cancel the policy since you will be insuring something you don't own. If you are that bothered just keep the car for another month

[ATTAK Z]

Yea that's what I thought

[Mikevv]

You can insure a car you don't own, when you go on (the dreaded) Go Compare it will ask:

 

Who is the legal owner

Who is the keeper

Where is the vehicle kept

 

You can have a different answer for all three, as I had a car my mum technically owned with all the paperwork in her name, but I was the keeper and it was mostly kept at my work ( I worked 10 hour shifts )

 

It just complicates it, and if you can I'd just keep the car for a month and not change anything

 

I'm currently with Elephant - part of the Admiral group - and they offer a 10 month "accelerator" policy - Gets me a years NCB for 10 months.

[Richf]

Since you have no plans to claim i personally wouldn't worry about it and would keep the policy going for the month

[Wayne370Z]

I seem to remember there was something on here recently ,or, on some site or other or in the news, where an owner had sold a car/motorbike and not cancelled the insurance. The new owner did not insure it, had an accident and the original owners insurance company were still liable as they were still insuring it as it hadn`t been cancelled and so they then sued the original owner or something?

Edited October 22, 2016 by Wayne370Z

[Ekona]

Correct.

 

http://www.whitedalton.co.uk/motorbike-blog/2013/10/i-sold-my-bike-but-didnt-cancel-my-insurance/

 

http://www.visordown.com/news/general/biker-may-be-forced-to-pay-thousands-after-banned-new-owner-has-fatal-crash

 

I'd cancel it the second the car left my doorstep.

[davedutch]

Just transfer to whatever you replace it with, expensive for one month but ensures you keep ncb.

[ATTAK Z]

Just transfer to whatever you replace it with, expensive for one month but ensures you keep ncb.

 

the replacement doesn't arrive till January

[ATTAK Z]

Cancelled

[ilogikal1]

I'm currently with Elephant - part of the Admiral group - and they offer a 10 month "accelerator" policy - Gets me a years NCB for 10 months.

 

You'll likely find that no one other than the Admiral group (perhaps even just Elephant, because insurance companies!) recognise that as a full year year's NCB, because it's not to anyone other than Elephant.

 

Many places offer the accelerated NCB on a 10 month policy as a means to tie you into their policies for the long term knowing this.

[redzed8]

You wont have a problem with companys recognising the 10 month ncd because when u get proof of ncd it comes as a full year.

 

Ive used them policys before and never had any problems.

 

[CK@Chris Knott Insurance]

It's been answered but in case you wanted an 'official' reply - definitely cancel the insurance when you sell the car.

[zebedy]

Just run it for another 4 weeks. Whats the harm. Use it to your advantage or just do a change of vehicle so you get to keep your no claims. Stick your mums car on for 4 weeks get your 1 year then cancel it. There's no rule to say a car cannot be insured twice by two different companies surly?

[CK@Chris Knott Insurance]

You can't insure a car twice I'm afraid, so that wouldn't work.

[Ekona]

Because you could be held liable for a multi-million pound claim if the other guy doesn't insure the car.

 

That's quite a lot of harm, I'd say.

[brillomaster]

You can't insure a car twice I'm afraid, so that wouldn't work.

 

Really? so if I want to buy insurance to drive a friends car for a year, but they already have insurance for it, I can't buy a second policy on it? genuine question, I can't see what the problem would be?

[CK@Chris Knott Insurance]

First off you don't have an insurable interest on someone else's car and secondly, in the event of a theft claim (neither driver at fault), which policy pays? What stops both of you claiming for the single insured incident?

Edited October 24, 2016 by CK@Chris Knott Insurance

[brillomaster]

i still don't really get it... say I have a friend with a Ferrari, and we plan to do a month long tour of Scotland where we'll both be driving. But his policy will not let me be added as a second driver because i'm too young. However, a different insurer is prepared to offer me a quote on the car, but i'm not allowed to take it because then we'll have two policies for the same car?

 

And also, surely everyone who buys a secondhand car has to insure it without knowing whether the previous owner has cancelled their insurance or not? or does it not matter because the previous owner would now be very unlikely to make a claim?

[CK@Chris Knott Insurance]

One of the main principles of insurance is insurable interest. If you crash the car what have you personally lost? Why should you receive financial compensation?

[Ekona]

First off you don't have an insurable interest on someone else's car and secondly, in the event of a theft claim (neither driver at fault), which policy pays? What stops both of you claiming for the single insured incident?

Two points:

 

1. So what happens when you insure a loan car when yours is in being serviced? Some main dealers insist you get your own insurance for this, so in that situation you don't have an insurable interest in the vehicle as you don't own it.

2. As long as only one of you claims, there's no fraud. Otherwise you both end up in the slammer.

 

 

So could I never insure myself to drive my wife's car? She may well not want the risk of losing any NCB by having me on her policy, for instance, so I'd have to go it alone. I totally understand the principle of insurable interest, but in this case you're insuring yourself against having to pay the owner of the car when you stack it. No difference to single day insurance policies, some of which are designed to allow you to drive a car you specifically don't own so you can test drive before purchase.

[ATTAK Z]

Just run it for another 4 weeks. Whats the harm. Use it to your advantage or just do a change of vehicle so you get to keep your no claims. Stick your mums car on for 4 weeks get your 1 year then cancel it. There's no rule to say a car cannot be insured twice by two different companies surly?

 

My mum died in 1973 so that wouldn't work I'm afraid

[G1en]

Is it the car thats insured or the person? Because most of us with a fully comp policy can drive someone elses car third party so if you had an accident im assuming the drivers insurance pays not the owners insurance. Therefore you can have 2 policies against a car.

 

Think i have confused myself. Insurance in general is just one big grey cloud

[CK@Chris Knott Insurance]

...most of us with a fully comp policy can drive someone elses car third party...

 

You'll need to check your policy to see if you have the Driving Other Cars (DOC) extension. It's not that common these days as insurers have stripped it out because of abuse. If any members need the cover, we can include it free of charge, but you need to state that you want it when you incept a policy.

Edited October 25, 2016 by CK@Chris Knott Insurance

[Ekona]

Is it the car that's insured or the person? Because most of us with a fully comp policy can drive someone else's car third party so if you had an accident I'm assuming the driver's insurance pays not the owner's insurance. Therefore you can have 2 policies against a car.

In that case however, you've not actually insured the car you're driving: You've insured yourself to cover third-party risks only. You'd then have to fork out of your own pocket to repair the car you were driving, or tell the owner tough luck and run away

 

Your policy with DOC covers your car specifically, and gives TP cover to other unnamed cars. It's an odd one, I do agree, but it works out nicely for most people so I'm not going to complain!