Sheefa Posted August 8, 2006 Share Posted August 8, 2006 Hi all, Right first off, Sky Insurance rock! Their service is second to none and I'm pretty sure they're the quickest people alive in answering a ringing telephone, a good 20 seconds quicker than dialling 999! They're very well priced and everybody should definitely turn to them for their car policies. Anyway, here lies my 'possible' problematic situation. I've got a Supra TT Auto, am 23 years old and have 2 years NCB. Everything is great and I got a nice competitive quote around the 1k mark. Now the problem. I was insured with Direct Line from 2000-2002 on my old G-reg Fiesta and earnt 2 years no claims discount. Then, I went to university and sold my car as didn't need it. Since 2003 I have been driving my fathers car, ranging from his 525 03 plate BMW estate through to his 06 plate Nissan X-Trail. I am covered under fully comp as I'm on his company fleet policy. I was also insured on a newer R reg Fiesta in 2004 but not under my own name. So, when I phoned direct line to ask for a NCB certificate they said they'd send me one but it wouldn't be any good as it will of expired and insurers won't accept it! Apparently any NCB that hasn't been used for 2 years expires. Not good. I explained the situation that I was at uni and didn't need a car but drove my fathers frequently nearl every weekend and in the holidays. They didn't care but I'm now insured with Sky who are better so either did I. However, do I now need to prove to Sky that I have been driving for the last 4 years so I can keep my 2 NCB, or will they just reject it anyway. I haven't had a single claim in my 6 years of driving on both my own and dads company policy. I feel it's totally unfair that people can lose their entire NCB even if they've been driving WITHOUT their own policy but haven't made any claims. Any advice as to how approach this, or if Sky read this your comments too would be most appreciated. Help!! Thanks all. Greg Quote Link to comment Share on other sites More sharing options...
hob Posted August 8, 2006 Share Posted August 8, 2006 This is standard on all NCB Quote Link to comment Share on other sites More sharing options...
Pete Posted August 8, 2006 Share Posted August 8, 2006 It's quite the norm and was discussed here just in the last week or so. So I'm sorry to say it's a MAJOR problem with you, not Sky. Quote Link to comment Share on other sites More sharing options...
JohnA Posted August 8, 2006 Share Posted August 8, 2006 Yep, std industry practice, part of the NCB scam Quote Link to comment Share on other sites More sharing options...
hob Posted August 8, 2006 Share Posted August 8, 2006 part of the NCB scam Surely Insurance companies wouldn't do this simply to make more money Quote Link to comment Share on other sites More sharing options...
imi Posted August 8, 2006 Share Posted August 8, 2006 So I'm sorry to say it's a MAJOR problem with you, not Sky. Quote Link to comment Share on other sites More sharing options...
Sheefa Posted August 8, 2006 Author Share Posted August 8, 2006 It's quite the norm and was discussed here just in the last week or so. So I'm sorry to say it's a MAJOR problem with you, not Sky. Yes mate I mean't it as "This could be a major problem with (My policy) with Sky Insurance', not them. Thanks for your kind clarification. Quote Link to comment Share on other sites More sharing options...
JohnA Posted August 8, 2006 Share Posted August 8, 2006 Surely Insurance companies wouldn't do this simply to make more money Of course not. If you have another car, or even a motorbike and you make a claim on that one ----> guess what? you lose the NCB on all of them. But if you build up NCB on a bike (or even another car) you do not build it up on all of them. At best, you can merely tranfser it. And don't get me started on the *real* NCB effect on pricing your policy, or the value of NCB 'protection' Quote Link to comment Share on other sites More sharing options...
hob Posted August 8, 2006 Share Posted August 8, 2006 Of course not. If you have another car, or even a motorbike and you make a claim on that one ----> guess what? you lose the NCB on all of them. But if you build up NCB on a bike (or even another car) you do not build it up on all of them. At best, you can merely tranfser it. And don't get me started on the *real* NCB effect on pricing your policy, or the value of NCB 'protection' he he How much does it cost to start your own insurance company? I mean the ammount you need in reserve to cover a claim (personal injury?) etc would be good to know Quote Link to comment Share on other sites More sharing options...
Pete Posted August 8, 2006 Share Posted August 8, 2006 How much does it cost to start your own insurance company? I've seriously thought about doing this. If you add up everything your family and friends pay for insurance and stick it in a high interest pot every year you'll be laughing. Right up until you get some major medical bills. Quote Link to comment Share on other sites More sharing options...
Sheefa Posted August 8, 2006 Author Share Posted August 8, 2006 he he How much does it cost to start your own insurance company? I mean the ammount you need in reserve to cover a claim (personal injury?) etc would be good to know Depends on what your insuring, just Motor or EL, PL, PI, BI etc. For motor you would have to get an indemnity limit agreed and obviously limit the number of policies held based upon your financial capacity. Quote Link to comment Share on other sites More sharing options...
martin_a Posted August 8, 2006 Share Posted August 8, 2006 Have to go back to Sky and ask them if they'll take your word for it. It is a slight problem with the way the policy was set up as You have two years no claims on your own policy but accident free for 4 years. When we got a policy for my Mum we told them she hadn't had an accident and they gave her full no claims despite the fact she has alwayts been on dad's insurance so never had her own policy. They do similar deals for company fleet drivers who might not have their own policy anymore. If you have company cover and the car hasn't been claimed on then this might be your way around it. m. Quote Link to comment Share on other sites More sharing options...
Supra-Dupra Posted August 8, 2006 Share Posted August 8, 2006 Can ur dad not add the soop as another company car ? Quote Link to comment Share on other sites More sharing options...
Matt H Posted August 8, 2006 Share Posted August 8, 2006 he he How much does it cost to start your own insurance company? I mean the ammount you need in reserve to cover a claim (personal injury?) etc would be good to know Mate dont be stupid!! more money that you could ever imagine! insurance companies are just companies of other companies under different names. Insurance companies have insurance too incase a huge claim comes in then they claim against their insurance. Carnt remeber who the biggest player is but banks insure insurance companies Quote Link to comment Share on other sites More sharing options...
Safely Insured Posted August 8, 2006 Share Posted August 8, 2006 RBS are taking over the world Quote Link to comment Share on other sites More sharing options...
qaisar Posted August 8, 2006 Share Posted August 8, 2006 mate phone up Sky and speak to Jae or Scott, they are very helpful. I was in similar position, as mentioned above its standard practice for NCB to expire after 2 years if not used, but i didnt know at the time. Mine expired, but i had been a named driver on another car. I was only a couple of months late so when i spoke to Sky they sorted gave me the same quote as if i had my NCB after i showed them that i had been insured as a named driver and there had been no claims on that policy. Quote Link to comment Share on other sites More sharing options...
Sheefa Posted August 8, 2006 Author Share Posted August 8, 2006 I can get a letter from my Dads company 9insurance broker) proving I'm on their fleet policy and have been accident free so hopefully that'll suffice. Thanks Martin and Supra-Dupra for your advice. Your right about starting an insurance company Matt. It's called re-insurance when two insurers combine policy wordings and cover and it's normally massive. Often claims can literally be in the 100 millions hence the reinsurance need. I work for the development team at Zurich and we've just had a claim come through which is off the scale! Banks do operate insurers, but not across the board. HSBC is the largest invester of insurers as is RBS who own Direct Line etc. All a large commercial loop! Quote Link to comment Share on other sites More sharing options...
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