Are you wondering if you can transfer your no-claims bonus? A valid question, as you’ve worked hard to earn it! Indeed, there are several scenarios where transferring your no-claims bonus is possible.
When is a No-Claims Bonus Transfer Possible?
Basically, a no-claims bonus transfer is possible within the family. Dr. Markus Schmidt, insurance expert at Allianz, explains: “The no-claims bonus is tied to the person and not to the vehicle. Therefore, a transfer is conceivable under certain conditions.”
Transfer to Family Members
The most common form of transfer is from parents to their children. This allows young drivers to benefit from a lower insurance premium right from the start. A transfer is also possible between spouses or registered life partners.
Transfer to Another Vehicle
The no-claims bonus is not tied to a specific vehicle. So, if you change cars, you simply take your SF class with you.
Important Prerequisites for the Transfer
Although a transfer is generally possible, there are some prerequisites:
- Consent of the previous owner: The previous owner must agree to the transfer in writing.
- Registration Certificate Part II: The Registration Certificate Part II (formerly vehicle registration document) must be presented.
- Insurance change: Often, the transfer is only possible as part of an insurance change.
Is a No-Claims Bonus Transfer Worth It?
Whether a transfer is worthwhile depends on various factors, such as the difference in the no-claims bonus classes and the associated premium differences. Sometimes it may be more sensible for the transferee to build up their own no-claims discount.
Further Questions about the No-Claims Bonus
- How can I improve my no-claims bonus?
- What happens to my no-claims bonus after an accident?
- Can I take my no-claims bonus abroad?
You can find answers to these and other questions in our other blog articles, for example:
Do you have any further questions or need help with the topic of no-claims bonus? Then contact us! Our car experts are happy to assist you.
