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| allotriophagy |
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allotriophagy
Borekit Bruiser
Joined: 28 May 2011
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| terry_gardener |
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terry_gardener
Two Stroke Sniffer
Joined: 25 Feb 2012
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terry_gardener
Two Stroke Sniffer
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| Pete. |
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Pete.
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Joined: 22 Aug 2006
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 Posted: 19:43 - 03 Mar 2012  Post subject: Re: How does no claims bonus work? |
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| allotriophagy wrote: | I've really no idea.
I started on a 125cc Varadero in February, insured through HR Insurance. It got stolen in March but I didn't claim since it was only worth £900 and with the excess and future increase it wasn't worth it. Plus I got it back and was able to get it fixed up and sold on for £600.
I got another Varadero and insured it through HR Insurance again, changing the insurance policy to the new bike.
I did the DAS in June and got a CBR600F and HR Insurance changed my policy for me again, though it is now just TPFT not Comprehensive.
So, I've had insurance policies through the same broker for over a year now. Do I have 1 year NCB? Or will I not have 1 year NCB until June, when I will have been insured on the CBR for one year?
Just curious since I am going away to uni in October and can't take my bike and wondering if I should just keep it insured and in my garage rather than SORN to keep building up NCB.
All this insurance stuff is a mystery to me, like changing gears kind still is sometimes... |
You earn a year's no claims discount for having a policy running for a whole year withiut suffering a claim. If you apply that 1 year's discount to your second year of insurance, and don't have a claim, you'll have earned 2 years of no claims discount.
Now it's no very clear, but from what you have put here it sounds like you had a policy running for the 125, which was transferred onto the other 125, and that policy has run a whole year and that you haven't claimed on it. For that you earn one year's NCD.
It sounds like you've also started a second policy for the CBR which is still running. When that runs it's year out you'll have another 1 year's NCD but you can't add the two together because there's an overlap. You'll have two lots of one year's NCD.
If you like, you could apply those to two different policies OR if you have a claim on your next policy and you find an insurer who will accept a NCD that's been unused for up to 2 years you could apply the second year's NCD to the new policy even though you lost the first one with a claim.
If, however you have only had one policy, transferred from the 125 to the other 125 then to the CBR, you just have one year's NCD.
As for going off to uni - I would personally keep it insured if you can afford to. You can still ride the bike in the summer break and you'll be accrueing NCD which will not only reduce your future premiums but if you let your NCD lapse you'll be restricted from insuring certain bikes until you've built up anther year. You might even be able to apply it to a car if you get one.
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a.k.a 'Geri'
132.9mph off and walked away. Gear is good, gear is good, gear is very very good  |
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| allotriophagy |
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allotriophagy
Borekit Bruiser
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| Rogerborg |
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Rogerborg
nimbA
Joined: 26 Oct 2010
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Posted: 21:34 - 03 Mar 2012  Post subject: |
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The whole thing is a big messy kludge, there's no law behind it, just custom and whim.
De facto, you only have whatever an insurer is prepared to say that you have. You'll want to get something from them in writing to give to a future insurer, although some of them will deign to talk to some others to verify that you did have the NCD that you said you did.
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Biking is 1/20th as dangerous as horse riding.
GONE: HN125-8, LF-250B, GPz 305, GPZ 500S, Burgman 400 // RIDING: F650GS (800 twin), Royal Enfield Bullet Electra 500 AVL, Ninja 250R because racebike |
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Old Thread Alert!
The last post was made 14 years, 126 days ago. Instead of replying here, would creating a new thread be more useful? |
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