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Is reusing NCB from paused policy on second policy allowed?

  • 09-01-2023 1:22pm
    #1
    iloveirishinsurance
    Registered Users, Registered Users 2 Posts: 2 ✭


    Hi,

    I've had a change of heart on a car I've taken a policy out on a couple of months ago.

    I want to change to a car with a larger engine but my current insurer won't even give me a quote on it, probably due to my age.

    On the other hand a different insurance company is giving me a very decent quote on it, but obviously with the 1 year no claims bonus I'm currently using on my current policy. And they won't give me any quote without the 1 NCB.

    I don't want to cancel my current policy because a. I wouldn't get any refund and b. I'd have to declare that an I've had a policy cancelled anytime I get another quote.


    Would it be illegal to pause my current policy and take out a new one with that 1 NCB? Because technically it wouldn't be being used on an active policy. Also, for every month paused on my current policy I'd get a refund for that month.

    Many thanks :)



Comments

  • #2
    iloveirishinsurance
    Registered Users, Registered Users 2 Posts: 2 ✭iloveirishinsurance


    Solution found. Upon reading an article from the CCPC I have found out insurance policies can be cancelled by the policy holder, which a good chance of a partial refund as well.

    I am not sure if this will result in me having to declare that I have had a policy cancelled anytime I'm getting another quote though, but I assume probably not.



  • #3
    Eggs For Dinner
    Registered Users, Registered Users 2 Posts: 3,053 ✭✭✭Eggs For Dinner


    For general information. There is no legal requirement for any insurer to accept any no claim bonus. It is just a widely used marketing tool. Insurers can offer flat premiums regardless of driving experience and they could even allow the maximum to a 17yr old novice driver on their 1st policy.

    There is a requirement for insurers to issue a certificate showing the number of years driving history, but what individual insurers do with that information is up to them



  • #4
    Sarn
    Registered Users, Registered Users 2 Posts: 3,109 ✭✭✭Sarn


    https://www.boards.ie/discussion/comment/120116451#Comment_120116451

    It’s when an insurance company cancels your policy that you have to declare it. People cancel their own policies all the time for various reasons. You might be asked why you cancelled a policy e.g. sold your car.



  • #5
    zg3409
    Registered Users, Registered Users 2 Posts: 7,030 ✭✭✭zg3409


    You can cancel your own policy and you may get some or all the premium back. You need to ask them how much. I have switched insurance company in the first year multiple times and got a partial refund. I normally switched as I moved address and they attempted to extort me for crazy more money and it was cheaper moving insurer than to pay them.



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