Policy for 6 months to avoid losing NCD

Caporegime
Joined
18 Oct 2002
Posts
33,340
Location
West Yorks
not a law, but I believe in the insurance T&Cs it says you have to have a "reasonable interest" or some other such legal term in the vehicle - basically saying your insurance isn't valid if you do just this and take it out on a car you don't own etc..

Personally, i'd be looking to buy something crap, cheap and cheerful (a 500 quid fiesta or something) and put the policy on that - goal would be to find something that's as cheap as possible and cheap to insure as possible. Buy cheap enough and you shouldn't lose too much when you sell.
 
Soldato
Joined
9 Mar 2003
Posts
10,626
But there is a risk you’ll lose your no claims if that car is in an accident as losses can and are shared across both insurers.
 
Associate
Joined
18 Oct 2002
Posts
1,587
Location
North West England
I don’t think it’s worth buying a cheap car that I don’t need- the most I stand to lose going from 15yrs NCB to zero is about £600. If it was >£1000 it might be something to consider.


The frustration is I will have the opportunity shortly to insure a car which my wife and I will own, but only for 6 months before my wife needs to insure it so she doesn’t lose her 12yrs NCB. It sounds like 6 months won’t be enough to “renew” my NCB.
 
Soldato
Joined
8 Nov 2006
Posts
21,404
Location
London

You can't just insure a random car.

You need an insurable interest in the vehicle. This simply means you incur a financial loss if the car was to be stolen, in an accident when you are driving etc.

Even if that is satisfied, as someone said above if losses do occur the claim can be shared across all policies with insurance on it.
 
Soldato
Joined
18 Oct 2002
Posts
18,268
The amount you spend on 6months policy plus cancelation fees etc is going to be more than you would save by having the NCB. Not worth it unless you can get a very very cheap policy.
 
Soldato
Joined
9 Jul 2003
Posts
9,063
Some insurers accept a letter from your employer stating that you haven't had an accident in the company car as proof of ncb.

Admiral do anyway, well they did when I went from company car to my own car a few years ago.
 
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