How does NCB work when you have 2 policies?
14 December 2011, 12:02 PM
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How does NCB work when you have 2 policies?
I currently have 6 years NCB and have just renewed my insurance.
I am thinking of getting another car soon but will have to state that i have 0 years NCB as they are all being used on another policy, i think that's the correct way to do it?
If i start a new policy and after a year gain 1 years NCB on this second policy, will i then have an alternate NCB i can use?
Thanks
I am thinking of getting another car soon but will have to state that i have 0 years NCB as they are all being used on another policy, i think that's the correct way to do it?
If i start a new policy and after a year gain 1 years NCB on this second policy, will i then have an alternate NCB i can use?
Thanks
Last edited by Saalro; 28 October 2017 at 04:10 PM.
14 December 2011, 12:48 PM
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Hi Sam,
Your NCB would remain at the current level (6 years) upon the current policy and you would have to earn a 2nd (alternate) set of NCB upon a second policy.
However, it's not as bleak as it sounds due to quite a few companies offering a 'mirrored' introductory NCB for the second car.
This would mean that you had 6 years 65% NCB upon the first policy and 0 years 65% NCB upon the second policy. You would then still have to gain the years as usual upon the second policy (your first renewal would be 1 year 65%, second renewal would be 2 years 65% etc).
Most Underwriters offering mirrored introductory NCB concessions will have an acceptance criteria, which will vary. But will include some of the following:
1) The same Insurer having to cover both policies
2) Your driving record (inc. being free from non-recoverable/at fault claims for 4-5 years)
3) The drivers under the policy - Insurers are red hot when it comes to fronting (using your record for another driver)
Greenlight can offer mirrored NCB, but both cars need to be performance and we would need to cover both to help. So at this stage I'd suggest trying your existing Insurer as the first port of call, before you look at alternatives.
Kind regards
Tony
Your NCB would remain at the current level (6 years) upon the current policy and you would have to earn a 2nd (alternate) set of NCB upon a second policy.
However, it's not as bleak as it sounds due to quite a few companies offering a 'mirrored' introductory NCB for the second car.
This would mean that you had 6 years 65% NCB upon the first policy and 0 years 65% NCB upon the second policy. You would then still have to gain the years as usual upon the second policy (your first renewal would be 1 year 65%, second renewal would be 2 years 65% etc).
Most Underwriters offering mirrored introductory NCB concessions will have an acceptance criteria, which will vary. But will include some of the following:
1) The same Insurer having to cover both policies
2) Your driving record (inc. being free from non-recoverable/at fault claims for 4-5 years)
3) The drivers under the policy - Insurers are red hot when it comes to fronting (using your record for another driver)
Greenlight can offer mirrored NCB, but both cars need to be performance and we would need to cover both to help. So at this stage I'd suggest trying your existing Insurer as the first port of call, before you look at alternatives.
Kind regards
Tony
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