Hello everyone, I'm new here, my question is about classic car insurance and No Claims Bonus discount.
I have a 1977 Escort that I have always insured as an 'ordinary car'. A friend suggested I go for classic car insurance as it will be cheaper although the mileage will be limited, which doesn't concern me that much.
Anyway, whilst phoning around for quotes, I was talking to one well known insurance company and they said that if I went in for classic car insurance and then in a year or so decided to go back to 'ordinary' insurance, my NCB would have to start from scratch again. I always thought that once you had built up the NCB it was there for good.
Can anyone enlighten me on this - thanks.
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This is broadly true, although the time it takes for you to "lose" your NCD may vary, and also companies vary in how much good will NCD they will allow you on re-joining. It is one of the downsides of classic policies, although usually greatly outweighed by the cheaper premiums.
Remember that for most limited mileage classic policies you have to demonstrate that you have another car available on an ordinary policy, and this of course is where you use your NCD. But there are lots of in-between policies, where you get the benefits of the lower risk associated with classic cars, but you can still use it on an unlimited basis. They cost more, of course. It is worth trying the specialist brokers and insurers.
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Thanks for the replies. As this is my only car I don't really want to 'lose' my NCB in the future. The higher insurance I may have to pay in the future because of the NCB issue may well negate what I may save on a lower premium classic premium.
I may well keep with my current insurer with an 'ordinary' policy. Does that make sense?
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Try Footman James. www.footmanjames.co.uk
No mention of it in their FAQ's.
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BIL has a MG changed his insurance a couple of times.all they asked for was proof of NCD.didnt tell him that.
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Was mech1
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Classic car insurance frequently doesn't carry NCD. However that is not relevant.
Whether you realise it or not, you never have to prove your NCD, what you have to do is prove a number of years of claim free driving. Especially since differing insurers use differing NCD percentages.
Whether or not you were on classic insurance, you woould still be able to prove x years claim free driving. You would still get the NCD discount appropriate to that number of years on the scale of whichever insurance company you are approaching.
The guy you were speaking was obviously recruited for his telephone manner rather than his insurance knowledge.
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What I am concerned about is that my Escort is my only car, if in the future I get a new car I want to be able to say I have x years ncb.
So Mark, what you are saying really is that if I went in for the classic insurance I would still at a later date, as long as I had had no claims, have the ncb intact?
Things are never easy lol!
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Check it.
Ring up an insurance company and ask for a quote.
Tell them that you've had Classic Car insurance for the last 4 years and can get written proof that the insurance was in your name and claim free for all four years.
See what they say.
But you might have to speak to someone whose first expertise is in insurance rather than telephones.
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Yes, I think on Monday I'll ring up some other insurers and ask them straight whether taking out a classic insurance will affect the ncb in the future.
Thanks for the advice everyone, it has certainly helped to make things a little clearer.
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Found out about this from Lancaster Insurance. I spoke to a very helpful chap who said that what I was told was basically nonsense, although went on to say that some classic car insurances don't have NCB, but NCB can be applied at no cost.
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