NCB question

[DomP]

I've recently sold my car which the insurance policy I had for had 10 years NCB on. As I've had to start a fresh van policy can I transfer these on to use of my other policies?

We run another car that is in my partners name with me as named driver and obviously my bike which I presume isn't possible

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[PyroUK]

Yes, no, maybe.

Depends on the insurer if you can transfer it to a different type of vehicle, ie car to van.

But your NCD is valid for 2 years from the date of expiry so if you don't use it you can have it spare just so long as you use it again within the 2 years

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[DomP]

Yes, no, maybe.

Depends on the insurer if you can transfer it to a different type of vehicle, ie car to bike.

But your NCD is valid for 2 years from the date of expiry so if you don't use it you can have it spare just so long as you use it again within the 2 years

Sent from my SM-G950F using TapatalkOh that's promising then! Can't see they'd add it to my bike policy would they?

I'm still on the look out for a daytona Pyro!

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[PyroUK]

You could maybe swap it over, so say you have 5 on the bike and 10 on the car, you could send did they'll swap it and then give proof of bonus on the 5 from the bike

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[Red ones]

My bike NCD was originally based on the car policy. It then separated and when we changed car policies I was allowed to transfer the NCD on the car to my wife who had always been named driver.

[Red Herring]

I'm not so sure NCB is all it's allegedly made out to be. There used to be a day when it was a curtain percentage of such and such a premium and you would expect what you pay out each year to go down accordingly, and you could pay extra to protect it from the odd indiscretion, but does it really work that way nowadays? I think these days they look at your overall risk and set a premium accordingly. I've got a pretty good claims history (one on a bike and an attempt theft from my camper both ages ago) and when I went to start a completely new policy on an additional car last year the guy on the other end of the phone said he would pretty much match the discount I had on my other car policy. Can't quote percentages but the premium was only about £100 fully comp on an MX5........

In your position I'd be tempted to pick up the phone and speak directly to an insurance company rather than fill in anything online......

[DomP]

I'm not so sure NCB is all it's allegedly made out to be. There used to be a day when it was a curtain percentage of such and such a premium and you would expect what you pay out each year to go down accordingly, and you could pay extra to protect it from the odd indiscretion, but does it really work that way nowadays? I think these days they look at your overall risk and set a premium accordingly. I've got a pretty good claims history (one on a bike and an attempt theft from my camper both ages ago) and when I went to start a completely new policy on an additional car last year the guy on the other end of the phone said he would pretty much match the discount I had on my other car policy. Can't quote percentages but the premium was only about £100 fully comp on an MX5........

In your position I'd be tempted to pick up the phone and speak directly to an insurance company rather than fill in anything online......I think I will follow your last piece of advice Red Herring

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[keith_d]

Back in the days before computers, insurance premiums were calculated using paper tables and no claims discount was exactly that. A discount which was applied at a certain stage in the calculation.

These days it's all done with computer models which use weightings based on data from years of customer claims to calculate the odds that you will claim in the next 12 months. So even a second non-fault claim can increase your premium because it is more likely that you will be involved in a fault claim in the next five years. It wasn't your fault, but statistically you're more likely to claim so you will pay a higher premium.

As a result, no claims discount is little more than a convenient piece of marketing fiction. I suspect that 'protected no claims' policies with a premium will be on the list of insurance mis-selling at some point in the future because they offer no significant benefit when your premium is calculated based on your claim history, postcode, and demographics.

Just my thoughts,

Keith.

[Talking Heads]

Out of curiosity I had a look at exactly how much discount my 8 years NCB really gives me.
On the comparison sites i got quotes both with and without the NCB.
It worked out around twenty quid.

[Red Herring]

I suspect that is because you answered the question asking if you had been involved in a crash in the last five years with "no". To truly find out if your NCB is really what it says it is try putting "yes" and see what happens......... Alternatively say you are a new driver/rider so you haven't yet had the chance to generate a safe history.

[Talking Heads]

Was a "yes" but only the one collision in the last five years.
It was only just within the five year window, another couple of months and I wouldn't have had to declare it.

[Red Herring]

In that case I wonder if there would still only be the £20 difference if you put a "No" in the history box. I guess the point I am trying to make is that it makes little difference how many years NCB you have (as you demonstrated) what influences the premium is your claim history. I wonder if a new rider/driver who has no history either way gets as hammered as someone with a couple of claims and therefore no NCB.