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jamesharris343

NCD - How long does it last in situ?

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Hi All,

 

Seem to find myself on here everyday at the minute !

 

I am cancelling my car insurance as presently have no valid driving license and recently learnt the insurance isnt worth jack while I dont have a valid license, but am keen to keep hold of my No Claims Discount (I have the maximum 9 years).

 

Can anyone confirm that the NCD is valid for at least 2 years while it sits in situ and not tagged to a policy?

 

I've got this 2 years from various googling, but all the posts are years old so I wanted to check this is still the case.

 

Also, when I cancel, what should I do - Ask them to post me my proof of no claims, or should I leave that until I actually need it when I take out a new policy later this year?

 

 

Thanks, James

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2 years is the usual period Insurers allow for NCD proof to be valid, while you don't have need of Insurance. There are some that will do up to 3 years, but you would have to check at the time.

 

Get the proof now, after cancellation. When you re-apply for Insurance, you would send this proof with a covering letter explaning that you have not had any Insurance for the period since.


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Treatment of NCD varies from insurer to insurer - there are no rules which are set in stone - but the large majority of insurers will accept it for up to 2 years from the end of your last policy. If you start an online quote and read the small print you'll usually see that one of the standard assumptions is something like "your no claims bonus is less than two years old and is not currently being used on another policy".

 

A very small number of insurers (Co-Op are the only one I know of) will accept it for three years.

 

I'd them to send proof at the time you cancel - that way you know you have it when it's needed.

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Thanks for clarifying everything guys. I'll get it cancelled and get them to send the NCD letter straight out.

 

 

James

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Plus get it SORN and a refund !!!!

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