Can I Transfer NCB From Overseas?
Car insurance after living abroad
Basically, the answer is YES and NO.
This is because there are different driving laws in other countries. It merits asking, yet most UK insurers don’t allow NCB built overseas to be transferred to a UK car insurance policy because of different driving laws and the administration involved.
This is also referred to as foreign no claims bonus car insurance. Recently, some insurance companies accept foreign no claim bonus (NCB) but most from the European member states. Other insurance companies accept foreign no claims bonus car insurance form other parts of the world like Canada, South America, and some parts of Asia etc.
It is always important to ask questions and if you find one which accepts foreign no claims bonus car insurance, read their terms and conditions as you will always find a hidden clause which will come back to bite.
Transferring Insurance From One Car To Another
If you are planning on transferring insurance from one car to another, you have to let your current insurer know about the change on the same day you bought the car.
Here is a list of what you should know before and after transferring insurance from one car to another:
Checking Car History and Details
Before buying a car, it is really wise and advisable to check the car you are buying for proper detailed analysis.
Things to check:
- If the car is written off, this is for used cars and some new cars which are involved in an accident when it first rolled out the warehouse for car shows.
- The Co2 emission. This is important because that should tell you how much you should pay for road tax. Many people have bought cars which they later regretted because the went for a powerful engine or for the beauty of the car then realized they are paying so much for road tax. The engine size of the car also affects the insurance premiums. Check for road tax.
- Check MOT of the car to make sure the car is roadworthy. Some used cars may have failed the MOT test, and this may be due to some minor issues which need fixing. Don’t always assume its fine and you can fix it, some fixes will later turn out too costly. Check car MOT.
- Check for modifications which may affect what details you give to the insurance. This is usually not important but will be if anything happens to the car and your insurance company picks it up for fixing. If they realize any slightest of wrong information will result in your insurer abandoning you at the point of need.
Are you planning on switching to a new car?
We all at some point will like to change or upgrade from an old car, this is why you need to know how to switch car insurance to a new car.
If you are buying either a new car or a used car, you should know the basics. To switch car insurance to a new car, some insurance charges extra premiums to do this, that is why you have to call your insurer to get a quote first.
Some car premium may be best to cancel and get a fresh start. But all this are what you should bear in mind because it may be worth it to cancel and get a new quote or new insurance policy.
Know The Basics Before You Buy A New Car
Buying a new car is a good thing, but for new or younger drivers, getting a new premium may cost you so much.
With the registration number in hand, call your insurance company and find out what it will cost you. Many people have to fall the victim of going ahead to buy a new ride then later realize they have made the worst mistake after they have exchange cash.
There will be questions asked, so it is important you know everything about the car before calling your insurer.