Driving Experience (CV)

CV = Commercial Vehicle

Background:

• Some insurers offer significant discounts on premiums if the Policy Holder has prior driving experience with commercial vehicles.

• This is because many drivers, over time, gain access to work vehicles but do not accumulate a No Claims Bonus under their own names.

How CV Experience Affects Premiums:

• Less NCB, More Impact: If a PH has little or no NCB, adding CV experience is more likely to reduce the premium.
• Example: 0 years NCB and CV-9 will likely lead to a greater reduction in premium than if the PH already has 7 years of NCB.

• Max CV Experience: Up to 9 years of CV driving experience (CV-9) can be listed on a policy if the PH has relevant experience.

Rules for Listing CV Experience:

• License Tenure Constraint: CV experience can only date back to the PH’s licence held date.
• Example: If the PH has held their license for 2 years, they can claim a maximum of 2 years CV driving experience.

• Claim-Free Requirement: CV experience must be claim-free.
• If a fault claim is on record, CV experience can only date back to that claim date.
• Example: If the fault claim was 3 years ago, CV-3 is the maximum claimable.
• Note: Non-fault claims and claims related to additional drivers do not affect the CV experience.

Special Cases:

• Markerstudy SD Scheme: This scheme is highly responsive to CV driving experience.

Important Caution:

• Listing CV experience can sometimes lead to increased rates with certain insurers.
• Advice: Always check the returned rates both with and without CV experience listed to ensure the best premium for the customer.