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Tue 3 May 2005 16:48

Insurance with no car... - Xantiargh!

Xantia went argh for the last time. Now deceased.

I'm not planning to get another car until the winter comes as I don't really travel that far and other half has a car.

Will I now lose my protected no claims if I am not insured on any motor? Obviously I would have to declare the claim to a new insurer should I get another motor.

Can I insure myself on the other half's car even though I'm not the keeper, or can I only be named on her policy?

Just not sure how to keep my insurance going, or if I even need to...

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Tue 3 May 2005 16:58

Insurance with no car... - ProtonGuy

You 'should' cancel the policy or transfer it to another car but you may chose to keep the policy going for a while if you are likely to buy another car shortly.

Your no-claim bonus will not expire for 2 years. Some companies will honour it up to 3 years. You cannot insure your wifes car if she already insures it.

You could always buy an old banger and insure that if you are likely to exceed to the 2 years.

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Tue 3 May 2005 17:09

Insurance with no car... - Xantiargh!

thanks. I'll cancel the policy then cos the wife already has me as a named driver on her insurance.

Was worried that the declaring the claim for next insurers would mean that they wouldn't honour the NCB when I insure my next car (in 4 or 5 months time)...

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Tue 3 May 2005 17:12

Insurance with no car... - Ex-Moderator

Ring your own insurance company and check.

Protonguy gives basicallly sound advice but a couple of additional comments;

1) you mention a claim. If your car has been written off you may find that your insurer will cancel your insurance anyway.

2) If you are going to cancel the policy then I would wait a week or two to make sure that you're not reacting too quickly.

3) Ask your current insurance company if they would suspend the policy or if they would insist on cancellation.

4) Ask an insurance company for a quotation as if today was the winter - i.e. declare all as it will be then. Just to see what they do and what type of quote you get back.

5) Ask your current insurer (not hte broker) what they would recommend.

Then decide what to do...

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Tue 3 May 2005 17:12

Insurance with no car... - ProtonGuy

Ah sorry didn't see the protected bit! Now then it depends..not all insurers will honour a protected bonus on a new policy if there was a claim under a previous protected policy. Some will, some won't. Yes you will have to declare it but you will just have to check which companies will honour a maximum bonus for you at the time.

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Tue 3 May 2005 18:13

Insurance with no car... - Xantiargh!

Ok... as my insurers close at 5 and hung up on me at 5 to 5 I have more stupid questions...

I pay my policy by direct debit. I assume I am liable for the remaining payments despite cancelling the policy? Or will I only have to pay pro-rata for the period of insurance?

Just trying to work out my budget for the next banger...

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Tue 3 May 2005 18:33

Insurance with no car... - cockle {P}

Ok... as my insurers close at 5 and hung up on

me at 5 to 5 I have more stupid questions...

Methinks 'tis time to find new broker as well!
A company that closes at 5 and hangs up on you at 4:55 really doesn't seem to want or value your custom, and certainly doesn't deserve it!!

Cockle

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Tue 3 May 2005 21:36

Insurance with no car... - ProtonGuy

Disgusting. We would have waited until one minute to... (joke)

The fact that you are paying by direct debit does not change anything. A common mistake made is that you are paying for one month at a time. You are not. You have a years insurance and the direct debit is a way of paying the annual premium. Therefore, the cancellation charges are the same. Your insurer will charge you for the period used (the 'time on risk') and refund the rest. With direct debit they compare the time on risk with the amount you have actually paid and adjust the remainder. Generally if there is less than 3 months remaining you must pay the full premium.

If a claim has been made against your policy in the current year of insurance the full premium becomes payable regardless.

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