Insurance Dilemma

fitzgese

So two years ago, I had to sell my car due to my financial situation. This hasn't improved, so there is no possibility of me getting another car in the next year. When I sold the car, I had a 4 year No Claims Bonus. My understanding is that this remains valid for a two year period. So any ideas as to how I can preserve my no claims bonus?

The only real idea I came up with was this: for the next two years, become the policy holder for my parent's car, with them as named drivers. Then, assuming I do purchase a car, let my parents revert to being the policyholders on their own car. The issue I ran into here is that I'm not the main user of my parent's car.

Any other ideas, or am I just gonna have to lose the NCB?

OldmanMondeo

You could alternate the policy every year, this will keep both NCD valid.

P_1

Become a named driver on your parents policy? That way you will still have your 4 year NCB plus a years NDE (named driver experience), plus you avoid any claim issues due to you not being the main user of the car.

Might be worth checking with some of the guys who work in insurance (I used to work in it but am now long gone) though.

ScouseMouse

Don't know if this helps but your insurance Ncb lasts for two years. To keep it, you must renew it the THIRD year

CiniO

Get some cheapest car you can find, preferably for few cents and become a registered owner. You won't be driving it, so you might need to find a place to park it. Car doesn't really have to run - it can be broken.
Then get insurance on it, and suspend a policy straight away and keep it suspended for the whole period of policy. It will cost you only about 20% of normal premium, and you will keep collecting NCB every year.

fitzgese

Thanks, lots of good suggestions there, will look into them