Fantastic 3R insurance quote!!
Discussion
My renewal from Natwest came through the other day at £889 but by tinkering about i've managed to get it down to £555.45!
Changes i made were reducing the value of the car from £58k to £47k, removing protection of NCD (which the girl at Natwest said is pointless having anyway) and reducing annual mileage from 10k to 6k.
Additional factors that gave further discounts were having an Advantage Gold account and Home insurance (buildings or contents).
Having a Tracker device is compulsory.
Anyone else managed to get anywhere near this figure??
Changes i made were reducing the value of the car from £58k to £47k, removing protection of NCD (which the girl at Natwest said is pointless having anyway) and reducing annual mileage from 10k to 6k.
Additional factors that gave further discounts were having an Advantage Gold account and Home insurance (buildings or contents).
Having a Tracker device is compulsory.
Anyone else managed to get anywhere near this figure??
ADParker said:
My renewal from Natwest came through the other day at £889 but by tinkering about i've managed to get it down to £555.45!
Changes i made were reducing the value of the car from £58k to £47k, removing protection of NCD (which the girl at Natwest said is pointless having anyway) and reducing annual mileage from 10k to 6k.
Additional factors that gave further discounts were having an Advantage Gold account and Home insurance (buildings or contents).
Having a Tracker device is compulsory.
Anyone else managed to get anywhere near this figure??
Andrew, this is very good but is this your only car - or did they mirror your NCB discount on a "first" car?
Wacky Racer said:
removing protection of NCD (which the girl at Natwest said is pointless having anyway)
Why did she say this????
If you are on 65% ncd, who would be glad of it in the event of a bump surely........
Well worth the additional premium (imo)
Well, just removing the protection on its own knocked off over £150 so it's definately worth considering. Also, even in a non-fault accident there's a good chance your premium will suffer at renewal time, that's what the Natwest girl said anyway.
I must admit, I'd be interested in hearing peoples experiences with the protected no-claims discount scheme (or is it scam ??).
The way I've looked at it is that it's only potentially worth anything if you plan to stick with the same insurer for a few years. Come renewal time, if you've had a claim then surely they have to quote your premium as if you never had a claim ? You could easily check this by calling back and asking for a quote in a different name with the same details. If you ask another different company for a quote, despite asking you for proof of NCD, they also ask if you've had any accidents in the past XX years and the details of them. I'd have thought that even if you say you've got 6 years NCD but have had a claim 12 months ago they'd go by this fact rather than the NCD. You can see this working by looking at the special offers of giving new drivers (in particular new women drivers) an introductary 12 months NCD. Obviously not worth a bean when you move on to the next insurer in 12 months with only 12 months of insurance history.
Any insurance insiders out there who could tell me the low-down on how this works ??
The way I've looked at it is that it's only potentially worth anything if you plan to stick with the same insurer for a few years. Come renewal time, if you've had a claim then surely they have to quote your premium as if you never had a claim ? You could easily check this by calling back and asking for a quote in a different name with the same details. If you ask another different company for a quote, despite asking you for proof of NCD, they also ask if you've had any accidents in the past XX years and the details of them. I'd have thought that even if you say you've got 6 years NCD but have had a claim 12 months ago they'd go by this fact rather than the NCD. You can see this working by looking at the special offers of giving new drivers (in particular new women drivers) an introductary 12 months NCD. Obviously not worth a bean when you move on to the next insurer in 12 months with only 12 months of insurance history.
Any insurance insiders out there who could tell me the low-down on how this works ??
amg merc said:
My renewal from Natwest came through the other day at £889 but by tinkering about i've managed to get it down to £555.45!
Changes i made were reducing the value of the car from £58k to £47k, removing protection of NCD (which the girl at Natwest said is pointless having anyway) and reducing annual mileage from 10k to 6k.
Additional factors that gave further discounts were having an Advantage Gold account and Home insurance (buildings or contents).
Having a Tracker device is compulsory.
Anyone else managed to get anywhere near this figure??
Andrew, this is very good but is this your only car - or did they mirror your NCB discount on a "first" car?
No, i also have a Clio Williams, i have two policies with two different insurance companies, using my Max NCD on the Noble.
ADParker said:
ADParker said:
Anyone else managed to get anywhere near this figure??
Andrew, this is very good but is this your only car - or did they mirror your NCB discount on a "first" car?
No, i also have a Clio Williams, i have two policies with two different insurance companies, using my Max NCD on the Noble.
Thanks, will include Natwest on my ringround at next renewal then!
amg merc said:
amg merc said:
ADParker said:
Anyone else managed to get anywhere near this figure??
Andrew, this is very good but is this your only car - or did they mirror your NCB discount on a "first" car?
No, i also have a Clio Williams, i have two policies with two different insurance companies, using my Max NCD on the Noble.
Thanks, will include Natwest on my ringround at next renewal then!
Natwest website will quote for a Noble too, unlike most others!
NCD protection does make a difference....
Firstly, NCD is not a "no blame" discount, it's a "no claim" discount.
If you don't have it, then most insurers will "bump down" the number of years no claims that you have.
Whilst true the "top line" premium will go up even if you have a "no blame" accident.
However, if you have NCD protection you can still tell any company that you have "x" years No Claim Bonus years, and more importantly, the insurance company you were with when you had the accident will give you a "proof of no claims" that states the correct number of years.
I did play with the figures after we had the X5 stolen, and if you put into elephant.co.uk that you had 4 years NCB then the difference was +450 over putting in that you had 6 years+ into it. Elephant (who it was with before it got nicked) state that they would have taken 2 years off the NCB statement if we hadn't had it.
The "protection" cost us £112 if I remember rightly, so in that case we came out better off by nearly £1000 (450 x2 for the two years that we would have had to rebuild it back to 6 years).
Up to you if you decide to take it out or not, but in our case it was worth it.
With the number of on-line engines where you can change things it's quite easy to work out if its "worth it"...
J
Firstly, NCD is not a "no blame" discount, it's a "no claim" discount.
If you don't have it, then most insurers will "bump down" the number of years no claims that you have.
Whilst true the "top line" premium will go up even if you have a "no blame" accident.
However, if you have NCD protection you can still tell any company that you have "x" years No Claim Bonus years, and more importantly, the insurance company you were with when you had the accident will give you a "proof of no claims" that states the correct number of years.
I did play with the figures after we had the X5 stolen, and if you put into elephant.co.uk that you had 4 years NCB then the difference was +450 over putting in that you had 6 years+ into it. Elephant (who it was with before it got nicked) state that they would have taken 2 years off the NCB statement if we hadn't had it.
The "protection" cost us £112 if I remember rightly, so in that case we came out better off by nearly £1000 (450 x2 for the two years that we would have had to rebuild it back to 6 years).
Up to you if you decide to take it out or not, but in our case it was worth it.
With the number of on-line engines where you can change things it's quite easy to work out if its "worth it"...
J
Frankly I think the NCB protection is largely a con. My other half had a total loss on my first Elise. Premium with so-called protection rose £300, and I wasn't even in the car.
One claim usually equals a loss of 2 years NCB. This can vary in terms of percentage depending on how the insurer structures its NCB. I recall reading somewhere that the average motorist makes a claim every 7 years. 7 years of "protection" will almost certianly be more than the loss of 2 years NCB.
If you claim, they'll claw their money back, protected NCB or not.
One claim usually equals a loss of 2 years NCB. This can vary in terms of percentage depending on how the insurer structures its NCB. I recall reading somewhere that the average motorist makes a claim every 7 years. 7 years of "protection" will almost certianly be more than the loss of 2 years NCB.
If you claim, they'll claw their money back, protected NCB or not.
xxplod said:You are right, if you stick to the "one in 7" then you shouldn't bother.
I recall reading somewhere that the average motorist makes a claim every 7 years. 7 years of "protection" will almost certianly be more than the loss of 2 years NCB.
If you claim, they'll claw their money back, protected NCB or not.
Trouble is, are you feeling lucky (or average!).
J
ADParker said:
My renewal from Natwest came through the other day at £889 but by tinkering about i've managed to get it down to £555.45!
Changes i made were reducing the value of the car from £58k to £47k, removing protection of NCD (which the girl at Natwest said is pointless having anyway) and reducing annual mileage from 10k to 6k.
Additional factors that gave further discounts were having an Advantage Gold account and Home insurance (buildings or contents).
Having a Tracker device is compulsory.
Anyone else managed to get anywhere near this figure??
Have you tried Liverpool Vic? They came in £700 chaeper than anyone else for my new insurance!
Mrs S here....
Since I do actually work in Insurance thought I'd attempt(?!) to explain this....
If you have an accident, even a non-fault one most insurers will load the premium at renewal ie. apparently you would be seen as a 'bigger risk' - 1 'bump' = more likely to have another.
If you have a fault accident and your NCD is not protected most insurers will 'step back' to 2 yrs.
If you have a fault accident however, and your NCD is protected, whilst the premium will be loaded accordingly you would still be entitled to the same discount off it as if you still had all your NCD in tact.
With protected NCD you can typically make 2 claims within 5 yrs before it causes problems.
HTH
Mrs S
Since I do actually work in Insurance thought I'd attempt(?!) to explain this....
If you have an accident, even a non-fault one most insurers will load the premium at renewal ie. apparently you would be seen as a 'bigger risk' - 1 'bump' = more likely to have another.
If you have a fault accident and your NCD is not protected most insurers will 'step back' to 2 yrs.
If you have a fault accident however, and your NCD is protected, whilst the premium will be loaded accordingly you would still be entitled to the same discount off it as if you still had all your NCD in tact.
With protected NCD you can typically make 2 claims within 5 yrs before it causes problems.
HTH
Mrs S
I'm sure I could get my insurance figure down to that but unfortnately I have 2 speeding fines and made a claim as one of my cars was stolen last year.
My premium went up because of this and too many insurance companies were just giving out the same high quotes. I needed to find a specialist.
The specialist company I'm with now are very good and am even insuring my second car with them too as they know properly the type of cars I own and my situation. Good to know insurance companies are becoming a little more realistic with their quotes, especially from a Bank!
My premium went up because of this and too many insurance companies were just giving out the same high quotes. I needed to find a specialist.
The specialist company I'm with now are very good and am even insuring my second car with them too as they know properly the type of cars I own and my situation. Good to know insurance companies are becoming a little more realistic with their quotes, especially from a Bank!
Am also just about to renew my breakdown cover with Norwich Union for just £76, far cheaper than the likes of The AA, RAC and Green Flag. The policy is 'personal based' so covers the Noble and Clio and includes Rescue, Recovery, At Home, Onward Travel and Europe, basically everything.
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