If I get rid of my car and stop insurance will I lose my no claims and pay a big premium next time?

Question

If I get rid of my car and stop insurance will I lose my no claims and pay a big premium next time?

Answer 1

No, you will not. It's based mostly on credit and history.

Answer 2

Your premium will be based on your claim history.  If you've had no claims in the past this will always be reflected in your future insurance.  If there are any discounts for being a long standing customer,  this may be affected, but would be minimal compared with an exemplary claim history.

Answer 3

if you are in australia, usually an insurer will recognise a 'no claims discount' if it's less than two years from the last time you held insurance.  so if you get rid of your car and buy one next year, there is a good chance most insurers will recognise you had a 'no claims discount' and apply that discount to your next policy.  each insurer is different though in what they can and can't accept.

my suggestion would be, to ask someone to add you to their insurance policy as a 'driver' (ie not a policyholder) - even if you hardly drive their car - just so you have a continued history of insurance and can prove it to your next company if you need to.

Answer 4

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