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Question: Rtention of No-Claims Bonus?

 
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Posted on 21 Mar 2013 10:06

It is not my intention to make any recommendations in respect of insurance companies as there are so many variable, however I would like to offer some advise based on personal experience.

In 2010 we both retired and went from being a 2 car family to a 1 car and 1 campervan family. That was when my insurance problems started.

I contacted a number of insurance companies and the gist of the conversation was that I could not transfer my no-claims bonus onto a campervan. I therefore had to take out insurance without the benefit of any no-claims or no-claims protection.

Just over 2 years after buying the campervan we decided to buy another (smaller) car to tow behind our campervan. Contacting a number of insurance companies revealed that if you have a gap of more than 2 years in your insurance you lose all your no-claims bonus and protected discount.

This to me was a ludicrous position. I passed my driving test in 1962 and have been continuously insured ever since without accident or claims. Additionally before I retired I held full bus & coach and lorry licenses. I also passed my Institute of Advanced Motorist Tests for cars and commercial vehicles in 1973 and 1988 respectively. However these would appear to be worthless qualification and I was treat just like a new driver.

Fortunately due to one of my hobbies (collecting old motorbikes) there was a glimmer of hope on the horizon as on contacting Carole Nash Insurers they told me that I could use my no-claims discount based on my accident free years of bike insurance to offset against my car insurance. (It would appear that if you have a Rider Policy - where you insure yourself and not the bike, then you can accrue, but not claim, a no-claims discount). I was able to “mirror-Image” this accrued no-claims to get no-claims discount on the second car. Carole Nash also advised me that you cannot claim no-claims for accident free driving in a campervan, but you can accrue it to transfer to a car at a later date. Confused? So was I.

The moral of this story is if you go from being a 2 car family to having a car and a motor-caravan it might be advisable to take it in turns to insure the family car and thus protect both no-claims bonuses.

The account above has been my own experience and whilst I have spoken to a lot of insurance companies I have not rang them all. If you have had a different experience, or work for an insurance company, I would be pleased to hear about it.

Regards

Alan & Margaret Myland
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Posted on 24 Mar 2013
Hi, My wife and I are in the same boat in that we are both due to retire later on this year. Like you, we have two cars and a VW camper which we purchased just over two years ago as a works van. I took a year to convert it and the insurance cover had to be very specific during that time. After the conversion and subsequent reclassification by DVLA to a Motor Caravan, we had to start shopping around for insurance as the premium went up instead of down as we had be assured by the first broker.
One year further on the premium only went up by a few pounds but we shopped around again and have managed to secure quite a good deal through the Caravan and Camping Club with a decent annual mileage allowance and generous Euro-cover at a saving of £60.00. The second broker that we dealt with said that we didn't have any no-claims bonus to transfer on as it was a camper policy but I reminded him that my first broker had given me one years NCB. He then changed his mind and admitted that I was in fact due two years NCB and then kindly provided me with a letter of proof for my new insurer.
I mentioned the topic of retirement to one of the brokers and he said that my camper van premium would probably go down because of that. I wonder if any other owners have experienced that this is in fact the case?
We are also thinking about ditching one of the cars when we retire and your tip about alternating the insurance cover every year is worth considering. Thanks for that..........

Regards,

JW
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Hello Jimmy
Thank you for you reply. It would appear that not all insurers are singing of the same hym sheet as my insurer (and all the others i rang) definitely told me that I could accrue a no-claims bonus but not claim it.
In view of your comments I will phone a lot more companies when the renewal comes up at the end of April.
Kind regards
Alan

Posted by alan Myland on 24 Mar 2013
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Posted on 31 Oct 2014
Do you mind me asking, Alan, whether you insure both people on your insurance or just one? And, if two, does this make any difference to the cost of insurance? We are finding that it is cheaper to have only one named driver, but this makes sharing the driving in our 'van difficult, plus we both need the practice!
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