no claims bonus transfer

[23sopwith]

hello all i new to this portion of cag but not to the site
need some advice please
does anyone out there no the reason why im not allowed to transfer my 4 years bonus to another company
the reason ive been given is i have not been insured personally for 30 months however bib site states that bonus may be transfered normally up to 24mths however a lot of companies will accept up to 3 years.
ive been driving constantly on insurance as the only driver on my wifes motability car.
advice greatfully accepted
thanks
nelly

[gyzmo]

I dont quite follow. If it is of help, the NCD usually goes to the policy holder only, though some insurers accept NCD from named drivers. On saying that, an insurer doesn't even have to provide or accept NCD. Its a widely accepted con.

[23sopwith]

hello gyzmo
scenario is thus
4years ncd in my own right
stopped being insured on my own car 30 months ago.
i now want to buy another car
insurers wont accept my 4 years bonus they say because ive not had my own car insured for 2 years i loose my bonus
biba (british insurance brokers) web site say that some companies will
accept bonus up to 3years since last insurance
what i need to know is who are they

[gyzmo]

Oh I see - sorry. I know Direct line used to accept them on provision of a satement that nothing has happened that would give rise to a claim. I think is a case of phoning round really.

[Trojan1401]

Agreed - most insurers will readily accept NCB up to 2 years old but there are a few who will accept up to 3 years since expiry.
It is either a case of phoning around or visiting a local broker to find an insurer who will accept it.
NU are one that may do so.

[gyzmo]

Its also worth checking the percentage of the discount rather than years.

3 years giving a 40% discount is not as good as 2 years giving 50%.

When I first worked in insurance I used to get a lot of these queries and one customer in particular wanted their "full discount" of 8 years which was for that insurer 75% - we only offered 70%. After much a screaming, I just said agreed to give him the extra discount, increased the premium to counter the extra discount and then quoted the same figure as I did before. He took the policy out.

I think an advert I say once summed up the con of NCD.

"now you can get 10 years NCD with us" it stated, with the percentage being about 70%. Or, in other words, it will take longer to get a 70% discount with us than it will with anyone else!

[LemonTwist]

"now you can get 10 years NCD with us" it stated, with the percentage being about 70%. Or, in other words, it will take longer to get a 70% discount with us than it will with anyone else!

Yes I agree with you there. Where I work you get the full 70% NCD after 5 years. I think it's bad that some companies make people wait 10 years to get the full discount (and anyway I think some companies stop at less than 70%).