Motor Changing from own Insurance policy to named driver - implications?

Kramer

Registered User
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135
Hi,
We currently have two cars but I am considering getting rid of mine and remaining on my wifes policy as a named driver.
Are there any long term implications of not having my own insurance policy, primarily if in a number of years I was to take out my own policy again would my no claims bonus etc. revert to zero?
Thanks
 
yes. Your no claims bonus dies after two years. Best thing would be to switch the name of the policy holders from your wife to you every two years to keep both NCB's alive.
 
yes. Your no claims bonus dies after two years. Best thing would be to switch the name of the policy holders from your wife to you every two years to keep both NCB's alive.
Thanks peteb, sounds like the best option
 
yes. Your no claims bonus dies after two years. Best thing would be to switch the name of the policy holders from your wife to you every two years to keep both NCB's alive.

This needs to be managed carefully as you cant afford a break.

The other point is that you cant insure what you don't own so ownership of car will need to switch as well.
 
No you don't have to switch the car ownership. Insurers accept that a husband has an insurable interest in his wifes property and vice versa in this instance.
 
No you don't have to switch the car ownership. Insurers accept that a husband has an insurable interest in his wifes property and vice versa in this instance.

Two insurance brokers made me change the car ownership so the OP should check this out in his case.
 
Thanks to all for the input, we are both currently insure through an online broker, would it be more advisable to deal directly with an insurance company on this?
 
Thanks to all for the input, we are both currently insure through an online broker, would it be more advisable to deal directly with an insurance company on this?

No reason to. You should be fine.
 
There are insurer's that will allow your no claim bonus up to 4 years after expiry (we deal with one of them) but you are limiting your choice, so prob best to keep within the 2 year restriction.
 
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