Insurance Question (Nothing to do with quotes)

[Adam.I]

Hey people. I was thinking today that let's say I got insured on a Honda NSR 125cc right after I passed my CBT and I pay for it monthly. So I started riding around on it for a few months, gaining experience etc. Then I go for my theory and hazard perception, followed by my practical. Then I passed both of them. If I was too ring up my insurance quoter, would they make my monthly payments less because i'm not on a provisional license anymore? Or could I cancel that insurance, then get a new one with my Full A category license (restricted)?

Thanks, Darryl

[Major_Grooves]

They would say that it reduces your premium. You would then assume they would send you some money back. They would use up your refund to pay for the admin costs in changing your policy to a full license one so in the end you get no money. Probably not worth losing 1NCB over so stick to the policy.

That's what happened to me. Bastids!
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[Adam.I]

How much should you got back of them then? Are you allowed to cancel that insurance and get another one?

[Danny]

Many insurance companies won’t charge you less if you pass your test mid way through a policy, mine didn’t.

If you were to cancel your policy you really won’t get much money back, almost certainly not enough to cover you on a new policy.

I would just stick with the policy to the end, that way you earn your years NCB.

[Adam.I]

Hey Danny, how's it going with my quotes? What exactly is a No Claims Bonus? How do they work?

[WildGoose]

every year you dont make a claim, you get 1 years no claims bonus, which counts to a percentage off your insurance the following year
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So in other words, he stopped you for being flagrantly in posession of a motorcycle in direct contravention of the Hippies, Darkies and People Whose Face I Don't Like The Look of (Police Powers) Act. 1976

[Robby]

After I passed my test I changed bikes - got a 250 - and got a token amount back on my policy. Then 4 months later I called them up over some minor thing, and found out they still had me down as a provisional licence holder, despite being insured on a 250. Silly kids. Got another token amount back then.

[Danny]

I'm waiting for some companies to get back to me.

[Adam.I]

How much did you get back robby? So in simplistic terms, the more NCB's you have, the lower your insurances is going to be?

[Robby]

about a tenner each time, on a 550 quid policy.

[Adam.I]

So, let's say you insurance is about £1,400 it'll be nearly £30ish?

[Robby]

Don't be such a silly boy. Call some companies or get danny to do it for you, you won't pay more than 800.

The amount you get back is up to the company, and depends on how long is left on the policy. Certainly its enough to call up about, but not enough to worry about.

[Danny]

[Adam.I]

robby, Danny is doing it for me. I have tried several and the lowest I have gotten it down to was £1,575 ish. I hope he can get it lower.

[Slavo]