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Insurance question. Stacking NCB?

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GTR1400
Trackday Trickster



Joined: 16 Apr 2011
Karma :
PostPosted: 09:33 - 03 Apr 2013    Post subject: Insurance question. Stacking NCB? Reply with quote
Hey BCF Smile

Just wondering if anybody can help. I've currently got 2 bike policies. One with 1 years NCB that finishes next month, and doesn't need to be renewed as I'm no longer using that bike. So by the time that policy finishes it will have 2 years NCB.

I have another policy which I'm currently using that was taken out in December that has 0 years NCB.

My original plan was to move the 2 years NCB over to my current policy next month when the one with the 2 years NCB runs out. This would then reduce my monthly payments on my current policy as I'd have 2 years NCB as opposed to 0 years NCB. I've spoken to insurance and they said this is fine.

However, I'm only going to be needing one policy from now on, and so I'd like to get up to 3 years NCB on a policy as soon as possible.

So if I swap the no claims from the 2 years policy to the new one (that expires in December), will I then have a total of 3 years NCB come December? Or will they not allow me to do that considering this is merging the 2 policies, and the original one that had the 2 years would have needed to be renewed all the way until May 2014 to get up to 3 years NCB?

The problem with that would be:

My insurance on the policy I'm using renews in December of each year. If the 3rd year NCB kicked in during May of next year, and I decide to use that to get a new bike, I'll still have 7 months insurance to pay/cancel until the policy ends in December.

Not sure what to do :/, having more NCB quickly would be ideal. Any ideas anyone?
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P.
Red Rocket



Joined: 14 Feb 2008
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PostPosted: 09:40 - 03 Apr 2013    Post subject: Reply with quote
Doesn't work like that unfortunately.

I have 3 policies currently, each building their own NCB.

Trust me, its much easier to have that, have a fault accident and use the other accrued amount for next years insurance. Laughing
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GTR1400
Trackday Trickster



Joined: 16 Apr 2011
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PostPosted: 09:43 - 03 Apr 2013    Post subject: Reply with quote
##Paddy## wrote:
Doesn't work like that unfortunately.

I have 3 policies currently, each building their own NCB.

Trust me, its much easier to have that, have a fault accident and use the other accrued amount for next years insurance. Laughing


Mmm, I guess that's a good point. I could quite happily continue to pay the policy I have until December with 0 NCB, to build it up to grab its first year.

But if I do that and let my policy with 2 years NCB expire, can I end up recalling that on another policy at a later time, or if I don't use it will the NCB just disappear?

I'm only using one bike so if I have to pay to renew the 2 years NCB policy just to hold on to the no claims, then it'd be pointless as the bike isn't being used.. it'd be wasted money.
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P.
Red Rocket



Joined: 14 Feb 2008
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PostPosted: 09:46 - 03 Apr 2013    Post subject: Reply with quote
If you only have 1 bike then just use your 2yr NCB on it now.

Next year that will have gone to 3.

Save those, insure the bike with your 1yr NCB, that will then build to 2 at the end of the year.

Repeat and swap till you are in profit Laughing
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R1stu
Shrek!



Joined: 12 Mar 2003
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PostPosted: 09:50 - 03 Apr 2013    Post subject: Reply with quote
liamwithers wrote:

Mmm, I guess that's a good point. I could quite happily continue to pay the policy I have until December with 0 NCB, to build it up to grab its first year.

But if I do that and let my policy with 2 years NCB expire, can I end up recalling that on another policy at a later time, or if I don't use it will the NCB just disappear?

I'm only using one bike so if I have to pay to renew the 2 years NCB policy just to hold on to the no claims, then it'd be pointless as the bike isn't being used.. it'd be wasted money.


Yep, if you don't renew insurance within a 2 year period you lose all of your no claims discount! This is why I brought the 350. It was cheaper to spend £400 on the bike than to lose 7yrs NCB.

Keeping policy's separate is a good idea. Man, the amount of claims in a car Ive had DOH! Embarassed
____________________
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Current bike 1991 Honda ST1100 Pan European, 1986 Honda cb350sg (Finished)
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GTR1400
Trackday Trickster



Joined: 16 Apr 2011
Karma :
PostPosted: 10:08 - 03 Apr 2013    Post subject: Reply with quote
##Paddy## wrote:
If you only have 1 bike then just use your 2yr NCB on it now.

Next year that will have gone to 3.

Save those, insure the bike with your 1yr NCB, that will then build to 2 at the end of the year.

Repeat and swap till you are in profit Laughing


Well I've got 2 bikes, just one is absolutely dead so not being used at all. Won't have my first years NCB on the bike I'm using until December...

But you're saying that from December, grab the 2 years NCB from my other policy, build it up to 3 years by December 2014, then swap back to the other policy that will have 1 years NCB and build that up to 2 years? Then after that swap back again so they both gradually go up?

Liking that idea to be honest, especially as if the person above said, the NCB expire after 2 years of inactivity as it means I can keep pumping them both up without them expiring Smile.
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P.
Red Rocket



Joined: 14 Feb 2008
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PostPosted: 10:11 - 03 Apr 2013    Post subject: Reply with quote
That is what I would do if I had 1 bike.

Easiest thing to do is fine a small 50/125 that you don't mind leaving insurance running on it and bung it in a garage/garden or anything.

Infact, I have a CBR frame that would do the job, only hold up is the lack of MOT so you can't tax, only sorn Laughing
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GTR1400
Trackday Trickster



Joined: 16 Apr 2011
Karma :
PostPosted: 10:30 - 03 Apr 2013    Post subject: Reply with quote
##Paddy## wrote:
That is what I would do if I had 1 bike.

Easiest thing to do is fine a small 50/125 that you don't mind leaving insurance running on it and bung it in a garage/garden or anything.

Infact, I have a CBR frame that would do the job, only hold up is the lack of MOT so you can't tax, only sorn Laughing


Well the bike I'm not using is just a little crappy 125 Razz, so I might just see if I can swap my no claims over as that's the bike that'll have the 2 years NCB on it.
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The last post was made 12 years, 306 days ago. Instead of replying here, would creating a new thread be more useful?
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