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Preserving No Claims Discount


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#1 Marvin

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Posted 21 July 2017 - 04:23 PM

Looking for advice.  For many years my wife and I have each owned a car,  insured in the relevant name with the other one as a named driver.  We are now both retired and can probably manage with one car.  But at our stage of life it is possible that in the foreseeable future one of use...we don't know which.... will have to give up driving on health grounds,  whilst the other one will continue to be the driver.


Can anyone think of a way we can both preserve our (full) No Claims Discounts while only insuring one vehicle,  when one of us will be the policy holder (and eligible for NCD) while the other will merely be a named driver (and presumably not eligible for NCD).  Presumably the one who is a named driver will see his or her NCD lapse. 
 
For the time being we will both be regularly driving the car,  and using it the same amount.  But we want to keep our options open for whatever scenario we find ourselves in a few years down the road.
 
Many years ago,  when we both used the same car for business purposes,   we had a Dual Driver Policy in which we were both policyholders,  which had the effect we now desire,  but I can't find such a policy in the marketplace these days.
 
Does anyone know any different,  or have any suggestions?

 



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#2 discv

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Posted 21 July 2017 - 06:49 PM

Not a lot of help, but 'No Claims Discount' means absolutely nothing.

 

Recently my daughter was involved in a no fault accident. The other parties insurers accepted all liability- and our insurers confirmed that her NCD had not been impacted.

 

Her renewal went from 600 to 2400- and then the intact NCD was applied.


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#3 discv

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Posted 21 July 2017 - 07:12 PM

Right- now a more rational thought! How about switching on an annual basis- that is you the policy holder one year and your good lady named driver- the next year reversed.

There is also the possibility that each renewal, now becoming new business, may have rewards.


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#4 stimulator

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Posted 21 July 2017 - 08:34 PM

Ok when I retired we sold my car as it was the older of the two and kept the wife's. I was named on her insurance. Then 3 years later we bought a new car on 0% terms. But it had to be in my name as my wife was 5 years older than me and too old for the deal. So no problem it was in my name. However big shock as NCB now is life's for only 3 years whereas before it was life long. So I had to start again from 0 even though I had been driving for 52 years and never claimed in all that time. They did relent and give me 1 year NCB as my wife was the named driver. This year I am back to 5 years so next 6 years. However the rise in premiums, reported as 11% this last year alone wipes that out. So you really have to do some homework and always never auto renew, do comparisons and also try those that are not on compare sites, like Direct Line. Some extras are good and free for first year, like car rescue, loan car from day 1, legal aid & protected NCB. SO
1) who is the younger
2) who is in the better health
3) who has the bigger NCB


just some extra info. My wife died in January. I changed cars in April and at the same time removed my wife as a named driver. Now insurance companies like you to have a named driver on the policy, it also reduces the premium. So I added my daughter, just in case Icouldn't drive the car sometime. Now to my amazement the annual premium went down by £24/annum and I got £12 back. My daughter is 44 and doesn't live at the same address.
Hope this is useful

Edited by stimulator, 21 July 2017 - 08:41 PM.

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#5 Ozzie

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Posted 24 July 2017 - 08:04 AM

could also be dependant on the insurance company.

 

with LV  my wife was a named driver on my policy for years.

at the last renewal I / she  asked for a quote in her name , they transferred my maximum no claims to her.

 

As I have a couple of other cars / policies  I didn't put myself as a named driver and her quote was cheaper than my original one !

because I had an accident a couple of years ago.

 

also if the policy isn't renewed the no claims discount lasts for 2 years. 

 

 

 



#6 Thunderbolt

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Posted 03 August 2017 - 11:52 AM

Insure an old classic, my 1956 morris minor costs pennies.



#7 granpa

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Posted 03 August 2017 - 12:49 PM

Never understood the logic behind old car costs, zero [I believe] road tax, and seeing it is based on pollution the old cars must be among the worst on the road, reduced insurance, what, with crap braking systems and similar zero safety features for drivers or pedestrians



#8 stimulator

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Posted 03 August 2017 - 03:26 PM

obviously the company research this and the accident rate for classics is low, the mileage is low and the time when they are used on the road is usually off-peak. If owned a classic car I'd treat like a new born baby, lets face it a 35 BHP Moggy ain't a rocker is it.


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#9 granpa

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Posted 03 August 2017 - 04:22 PM

No, when it faces hills its as bad as being behind Lycra Louts