Can I suspend insurance?

Mossyman

So its looking likely that I am emigrating to Canada for a year in June which is the same time when my insurance is up. I'm with Quinn, or Liberty, whatever they like to call themselves now.

My main issue is that I don't want to loose my NCB that I've built up. Its mid June when it expires so my question is can I suspend it with two weeks left (i.e. the beginning of June) until Christmas when I'll probably come back for a week or will it be too close to the expiry date?

If it is the case that I can't suspend it can I just say for example buy three months insurance in June and suspend it straight away until Christmas. I don't mind having to do this as I have this much saved up for it.

I know people will say to ring the insurance company, which I will do. I just want to have some idea of what to expect or if people have had similar experiences. I just don't want to have to start building up my NCB when I come back again.

djimi

I think you can be 2 years (or maybe longer) out of insurance before your NCB expires. It doesnt expire if you dont renew right away.

CiniO

Mossyman wrote: »

So its looking likely that I am emigrating to Canada for a year in June which is the same time when my insurance is up. I'm with Quinn, or Liberty, whatever they like to call themselves now.

My main issue is that I don't want to loose my NCB that I've built up. Its mid June when it expires so my question is can I suspend it with two weeks left (i.e. the beginning of June) until Christmas when I'll probably come back for a week or will it be too close to the expiry date?

If it is the case that I can't suspend it can I just say for example buy three months insurance in June and suspend it straight away until Christmas. I don't mind having to do this as I have this much saved up for it.

I know people will say to ring the insurance company, which I will do. I just want to have some idea of what to expect or if people have had similar experiences. I just don't want to have to start building up my NCB when I come back again.

If I understand right your policy is expring in mid June. Will you be gone then already?

If you are planning to be away for a year with a short visit over christmas, maybe there's no point in keeping your policy.
When you are back for christmas you can buy a new policy, drive on it for up to 14 days, and then cancel it, and your premium will be only calculated accordingly to no of days your policy was in force + small charge.
Then when you are back for good next year, you will just buy a new policy. Most insurance companies respect NCB for up to 2 years old, so you shouldn't lose them.

But if for some reason you want to keep your policy, then yes - suspending is the best option.
Probably the best what you can do is to renew it in mid June and inform then then straight away you want to suspend it until further notice. Then over christmas when you are here, you will revoke the policy for 2 weeks, and then suspend again until you are back for good.
Shouldn't be any problems with this, but bear in mind even policy is suspended they will charge you about 20% - 30% of your regular premium, or even more if you decide to keep fire and theft cover on your car during suspension period.

Mossyman

CiniO wrote: »

If I understand right your policy is expring in mid June. Will you be gone then already?

If you are planning to be away for a year with a short visit over christmas, maybe there's no point in keeping your policy.
When you are back for christmas you can buy a new policy, drive on it for up to 14 days, and then cancel it, and your premium will be only calculated accordingly to no of days your policy was in force + small charge.
Then when you are back for good next year, you will just buy a new policy. Most insurance companies respect NCB for up to 2 years old, so you shouldn't lose them.

But if for some reason you want to keep your policy, then yes - suspending is the best option.
Probably the best what you can do is to renew it in mid June and inform then then straight away you want to suspend it until further notice. Then over christmas when you are here, you will revoke the policy for 2 weeks, and then suspend again until you are back for good.
Shouldn't be any problems with this, but bear in mind even policy is suspended they will charge you about 20% - 30% of your regular premium, or even more if you decide to keep fire and theft cover on your car during suspension period.

I most likely wont be gone by the time its up but that could change in the next few weeks.

Thanks very much for the advice. I don't want to buy insurance unless its to keep my NCB but if most respect it for up to two years then I don't have too much to worry about.

CiniO

Mossyman wrote: »

I most likely wont be gone by the time its up but that could change in the next few weeks.

Thanks very much for the advice. I don't want to buy insurance unless its to keep my NCB but if most respect it for up to two years then I don't have too much to worry about.

In most cases it's up to 2 years, but it's actually up to the insurance company's rules which you will be trying to get cover from when you return.
So this might limit you only to some of them, as other might only want to accept NCB up to 1 year or even 6 months old.
However there are plenty of insurance companies on the market which accept NCB up to 2 years old.

Mossyman

CiniO wrote: »

In most cases it's up to 2 years, but it's actually up to the insurance company's rules which you will be trying to get cover from when you return.
So this might limit you only to some of them, as other might only want to accept NCB up to 1 year or even 6 months old.
However there are plenty of insurance companies on the market which accept NCB up to 2 years old.

Ah yeah I get you but at least there are some places to go to. Thanks!

Mossyman

Just to let people know as a reference I got this email back from a nice lady who I contacted in Allianz:

A No Claims Bonus document remains active for 2 years after its date of issue in this country in all insurance companies. E.g. if you have been off the road since 01.05.2010 you only have until 01.05.2012 to retain what no claims bonus that you have earned. Otherwise it will expire and you will be treated as a first time driver again.

Thanks to those who replied.

Mossyman

Mossyman wrote: »

Just to let people know as a reference I got this email back from a nice lady who I contacted in Allianz:

Just ask them about their policy on insuring individuals who have been out of the country for a year. There was a thread about it a while back, I can't remember the details but something to do with insurers not quoting returning emmigrants.

TestTransmission

Funnily enough, I suspended a policy with AXA before as I was out of the country for the while and I gained NCB for while it was suspended, made no sense to me but they told me that was the way they did it.

Our man in Havana

Deleted User wrote: »

Just ask them about their policy on insuring individuals who have been out of the country for a year. There was a thread about it a while back, I can't remember the details but something to do with insurers not quoting returning emmigrants.

Indeed, you just can't win with the vultures.