Insurance

[Oh-Danny-Boy]

Hi everyone!

 

I have 2 questions on insurance.

 

1. All the quoted I have had for a bike I've agreed to buy state that the NCD are not protected. Does this mean that when I can't say I have 1 year NCD? If so, how do I get around this?

 

2. The bike will be my only transport. Might get rid and get a cage for the winter. I was planning on paying one annual payment. If I do that, should I get a refund (minus admin costs) for the time I do not own the bike?

 

Thanks

[Fiddlesticks]

1. Protection on the NCD is an extra fee you pay to keep your No Claims Discount even if you make a claim. So without it, if you have ten years NCD and make a claim your NCD resets to zero. You can pay extra to "protect" it, and keep it at 10 years regardless, however your renewal premium will likely still increase due to the claim (although maybe not as much).

 

2. You might get something back, but probably not pro-rata. There'll likely be a cancellation fee. Worth checking before you buy.

Edited April 24, 2023 by Fiddlesticks

[Fiddlesticks]

Worth also noting that you won't build up any more NCD if you cancel mid term.

[Oh-Danny-Boy]

Thanks for the advice!

[keith1200rs]

NCB doesn't usually go back to zero in the event of an accident. You usually lose a few years such 2 or 3.

[Tigs]

I think you have to have at over 2 years to protect your NCD - as it was not an option for me this year (and I have 2 years no claims)