Insurance Question

steviekek

Active Member
Feb 6, 2021
85
53
Scotland
Morning

I called my existing insurance company this morning to say that I will have a new car I roughly two weeks time and is there a change in price. I had renewed with the AA on the 21/10/20 paying in full for my GLA

I was told that my current underwriter does not cover this vehicle and my options are this.

Cancel the policy and get £215 refund then take out a new policy elsewhere

Give them £380 and they will insure it for a year from that date but no £215 refund, so basically costing £595 from that date.

What’s happens to the 6 months no claims if I cancel; is that lost?

I have been quoted £380 by admiral for the year so why pay £595

Policy’s exactly the same in terms of cover etc!

What am basically asking is, can I still declare to future providers that I have 20 years no claims...does the break mean anything as after all it’s not my fault their underwriter won’t take it on

Hope this all makes sense

Thanks

Steven


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Mike the_cupra

Active Member
May 29, 2020
158
81
Morning

I called my existing insurance company this morning to say that I will have a new car I roughly two weeks time and is there a change in price. I had renewed with the AA on the 21/10/20 paying in full for my GLA

I was told that my current underwriter does not cover this vehicle and my options are this.

Cancel the policy and get £215 refund then take out a new policy elsewhere

Give them £380 and they will insure it for a year from that date but no £215 refund, so basically costing £595 from that date.

What’s happens to the 6 months no claims if I cancel; is that lost?

I have been quoted £380 by admiral for the year so why pay £595

Policy’s exactly the same in terms of cover etc!

What am basically asking is, can I still declare to future providers that I have 20 years no claims...does the break mean anything as after all it’s not my fault their underwriter won’t take it on

Hope this all makes sense

Thanks

Steven


Sent from my iPad using Tapatalk
I had this on my previous car, moreso because of car/age issues and my company wanted £££. If you cancel the policy there's no issue. For you having so many years NCB, I would just cancel and take out a policy with Admiral (who I have used for 3/4 years now). It's just one of those things!
 
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jcbmally

Started with nowt and still have most of it left.
Staff member
Moderator
Dec 26, 2013
1,271
549
Cybertron
Morning

I called my existing insurance company this morning to say that I will have a new car I roughly two weeks time and is there a change in price. I had renewed with the AA on the 21/10/20 paying in full for my GLA

I was told that my current underwriter does not cover this vehicle and my options are this.

Cancel the policy and get £215 refund then take out a new policy elsewhere

Give them £380 and they will insure it for a year from that date but no £215 refund, so basically costing £595 from that date.

What’s happens to the 6 months no claims if I cancel; is that lost?

I have been quoted £380 by admiral for the year so why pay £595

Policy’s exactly the same in terms of cover etc!

What am basically asking is, can I still declare to future providers that I have 20 years no claims...does the break mean anything as after all it’s not my fault their underwriter won’t take it on

Hope this all makes sense

Thanks

Steven


Sent from my iPad using Tapatalk
You can’t declare part years as NCB. Your current insurance should forward a letter/email denoting your NCB.
There are plenty of insurance companies now that are reasonable in price, I used the comparison sites and my Cupra was only £264 Fully Comp, 10yrs NCB (I’m 52yrs). Get the money back and get a new quote, you’ll save quite a bit of money and don’t forget nearly all insurance companies work on a 10yr max NCB anyway.
 
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Rusty2k

Active Member
May 12, 2013
709
131
You won't earn any no claims from the policy that will be cancelled but you won't lose what you already had. The cancellation won't affect you either.

With the amount of no claims you have it's an academic point anyway. Most insurers give their maximum no claims discount at around 9 to 12 years.
 
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