Can you have your no claims bonus on only one insurance policy?

wasc

wasc

wasc

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My current insurance company said i can only have my no claims bonus active on one insurance policy. Is this true, or have I got confused somewhere?

Basically I already have a car. It's insured with Octagon and has 2 months left on the policy. I'm buying a second car, so called octagon to confirm how much NCB i have so i can shop around for a quote on the second car which was when they told me.

Any idea on the best way to proceed here - obviously I'm thinking a multi-car policy, but with me getting the new car now, and the old car's policy still having 2 months left on it, I don't know how that would work out.
 
wasc said:
My current insurance company said i can only have my no claims bonus active on one insurance policy. Is this true, or have I got confused somewhere?
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Yes. You can only hold it on one policy. If you have a second car on a second policy it accrues it's own NCB :)

Edit: 10 internet points* awarded for referring to it as no claims bonus, rather than no claims discount. I hate that term.

*Reclaimable for use on the internet.
 
Some insurers will take it into account though - when I had 1 years NCB equity redstar (via adrian flux) were interested to know about it and gave me a price based on being able to prove I had 1 years NCB on my other policy, with a guarantee it would not affect my other policy.
 
Are you keeping the old car?

If not, put the old car on a temp policy to free up you NCB for your new car. That's what I did with Admiral.
 
naefeart said:
Are you keeping the old car?

If not, put the old car on a temp policy to free up you NCB for your new car. That's what I did with Admiral.
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Yes, keeping the old car, so i can't really tamper with that policy.

Bit of a kicker, as the old car is a honda civic, and new car is a Evo X, so believe me, I could use that NCB in bringing the quotes down :)
 
I'd just cancel the old policy, renew sans NCB and use it for the Evo. Whatever you lose on the Honda, should be easily made up with the discount in the Evo's policy.
 
I was in a similar boat but already had two policies running but the new expensive toy needed to go on the policy with the most no claims bonus.
That however was my daily driver to work policy.
Rang them up for a change of vehicle - to the new expensive vehicle onto the 8yrs no claims
Then then plan was to ring the other company with my track car on and change it to my daily drive car (but with only 2 yrs no claims.)

Didn't matter in the end as the new vehicle purchase fell through. :(
So in essence yes, one policy for one NCB.
If its your most expensive car it would make sense to put it on the policy you have running with the most NCB backing it up..
RIng them up "err I'd like to change vehicles please", certainly sir that'll be £xxx extra for the months left to run. "Great, thanks" brrrrrrrrrrrrr
Then start a new policy up for the honda...
 
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If its your most expensive car it would make sense to put it on the policy you have running with the most NCB backing it up..
RIng them up "err I'd like to change vehicles please", certainly sir that'll be £xxx extra for the months left to run. "Great, thanks" brrrrrrrrrrrrr
Then start a new policy up for the honda...
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Do this, but make sure to have a quote for how much it would be to get a new policy on the Evo with however much NCB you have previously built up - depending on your current insurer's attitude towards cars like Evos, it may turn out to be worth taking the hit on 'losing' the NCB you've built up so far this year. Having done a similar thing, that turned out to be the best for me.
 
Some insures will actually 'mirror' your NCD so you can end up with 2 policies with your full NCD on. With admiral multicar they were only able to mirror over 2 of the 7 years i had due to something i dont remember now.. But either way i've got 2 certificates, 1 with 7 years and 1 with 2 years now.
 
Some insurers will take it into account and offer some level of introductory NCD, same for people who have had company cars for a number of years.
 
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