Discount x NCB
Discussion
Hi,
We have a lot of topics here about kids with their fresh driving licenses struggling to insure a car. By chance, I also struggle, as my UK driving licence is as possible, although I have 11 years driving back in Brazil.
So, to give some light to everyone struggling with insurance for new drivers, how much the insurance will drop with NCB? Already read 10%/year, but what is the real deal?
At list we'll be able to make plans of buying something cheap to insure and unwanted in the first year, and dream about the future where insurance will not be a big issue.
PS: I thought that this section was the best to post this, bull feel free to move it.
PS2: It's frustrating that with 11years of driving, 29yo, married and father of one, I still get obscene insurance figures...
We have a lot of topics here about kids with their fresh driving licenses struggling to insure a car. By chance, I also struggle, as my UK driving licence is as possible, although I have 11 years driving back in Brazil.
So, to give some light to everyone struggling with insurance for new drivers, how much the insurance will drop with NCB? Already read 10%/year, but what is the real deal?
At list we'll be able to make plans of buying something cheap to insure and unwanted in the first year, and dream about the future where insurance will not be a big issue.
PS: I thought that this section was the best to post this, bull feel free to move it.
PS2: It's frustrating that with 11years of driving, 29yo, married and father of one, I still get obscene insurance figures...
What cars have you been looking at, and what do you consider to be obscene quotes?
For reference, my first car I got at 22 years old. It was a 2002 Ford Ka and the insurance was around about £1000 when paid monthly. (90 a month, plus whatever deposit it was). The next year it went down to £42 a month.
So I'm not sure if it would be same for you, but I'd imagine it would drop a considerably amount after the first year, than gradually for every extra years NCB.
For reference, my first car I got at 22 years old. It was a 2002 Ford Ka and the insurance was around about £1000 when paid monthly. (90 a month, plus whatever deposit it was). The next year it went down to £42 a month.
So I'm not sure if it would be same for you, but I'd imagine it would drop a considerably amount after the first year, than gradually for every extra years NCB.
At 24, I got my first car. 50bhp Polo, 1.0l. £1350 to insure (though I had passed my test at 21, I had no insurance history at 24). At 25, bought a 140bhp 1.8l Civic. £880. At 26, I bought a 200bhp Type R. £850.
These prices were a bit cheaper as i was on a multicar policy -comparison sites were saying around £1050 for the 1.8 and 1200 for Type R.
These prices were a bit cheaper as i was on a multicar policy -comparison sites were saying around £1050 for the 1.8 and 1200 for Type R.
More than ten years ago now, but insurance on my first car - Ford Focus - was £1400 first year, £850 second, and less than £600 on third.
Best advice I’ve seen recently is to go for a car not ordinarily driven by young folk - e.g. a Volvo etc. You’ll benefit from the lower claim history on those cars and should hopefully pay a bit less.
Best advice I’ve seen recently is to go for a car not ordinarily driven by young folk - e.g. a Volvo etc. You’ll benefit from the lower claim history on those cars and should hopefully pay a bit less.
Going back a few years now since I worked at Norwich union but used to be
Yr1 49% discount
Yr2 58% discount
Yr3 65% discount
Yr4 68% discount
Yr5 70% discount
Never changed above 5yrs. The base premium could still change alot year in year so customer might not have received the same percentage discount against their previous years price.
Yr1 49% discount
Yr2 58% discount
Yr3 65% discount
Yr4 68% discount
Yr5 70% discount
Never changed above 5yrs. The base premium could still change alot year in year so customer might not have received the same percentage discount against their previous years price.
Insurance is just odd.
Until my early 30s, I didn't have a car insured in my name - was into motorcycles. Did own cars with g/f's but the insurance was always in their name.
When I found myself single in early 30s, I decided it was time to get a car and insure it myself - purely for practical reasons (e.g. shopping). However - insurance companies would not allow me to mirror any of my NCB from bikes to cars ("it's completely different insurance") - but did consider a bike theft a few years earlier to be relevant..........
I was getting quotes of over £1k to insure a 1.0L Fiesta.
In the end, I decided that if I was going to be screwed over insuring a Fiesta, I may as well get screwed over insuring something better - so I bought a used 911. Surprisingly, that affected the insurance less than you'd think - instead of quotes of ~£1100 for the Fiesta, I insured the 911 for ~£1500. Mad.
Sadly, in the long term it cost me more, since I then developed a taste for expensive cars..... so maybe I should have bought the Fiesta!
Until my early 30s, I didn't have a car insured in my name - was into motorcycles. Did own cars with g/f's but the insurance was always in their name.
When I found myself single in early 30s, I decided it was time to get a car and insure it myself - purely for practical reasons (e.g. shopping). However - insurance companies would not allow me to mirror any of my NCB from bikes to cars ("it's completely different insurance") - but did consider a bike theft a few years earlier to be relevant..........
I was getting quotes of over £1k to insure a 1.0L Fiesta.
In the end, I decided that if I was going to be screwed over insuring a Fiesta, I may as well get screwed over insuring something better - so I bought a used 911. Surprisingly, that affected the insurance less than you'd think - instead of quotes of ~£1100 for the Fiesta, I insured the 911 for ~£1500. Mad.
Sadly, in the long term it cost me more, since I then developed a taste for expensive cars..... so maybe I should have bought the Fiesta!
I have already accepted in my heart that first year I'll take the hit. Put a £1.5k insurance budget in my expenses spreadsheet, and let's search the car.
The idea of having a £800 Jazz with a £800 insurance almost grew on me, but I decided I deserved anything bigger, so lets spend money...
The idea of having a £800 Jazz with a £800 insurance almost grew on me, but I decided I deserved anything bigger, so lets spend money...
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