Car Insurance - Is No Claims Bonus Still a Thing?

[malcolm]

I'm confused as usual. I have a twenty or so years no claims bonus. I want to insure my new 24 year old car and maybe keep the other one insured for a month or two while I make sure the new one works reliably and sell the old one.

I tried Go Compare for quotes with no claims bonus. Then later I tried for quotes without any no claims bonus. The lowest quotes were actually cheaper without any no claims bonus, but the companies appearing in the two searches were different.

I can probably insure under my classic policy for even cheaper but won't be able to keep the No Claims Bonus on that policy. Is that even a problem these days? Anyone have any idea how things work these days who might give me some pointers?

 

[Richiew]

Do you still believe in the tooth fairy as well?

 

[malcolm]

Do you still believe in the tooth fairy as well?

Do you know something I don't? Then perhaps you might explain some more. Or if you can't maybe someone else can help.

 

[BrokenBiker]

Insurance is weird at the moment...ive done quotes today for a few vehicles...ive got 9 points and 8 years no claims...

If i declare my points on a 3.6 tdv8 l322 its cheaper than not having points, but a d4 with a 3.0 sdv6 is twice as much per month, unless I opt to start the policy a month later then it comes down by nearly 35 quid a month...

If I add my father as a driver to the range rover it goes up, but brings the d4 down...but then I found I can insure an audi s8 with a 5 litre v10 for less than im currently paying for a 2.2 diesel jag

 

[Richiew]

I think it's marketing BS for boomers. Might have meant something once, back in the distance past. Does it really reduce your premium these days? I'm turning 50 this year, never claimed. Fully comp on a sub average car less than 200 quid per annum. What does my discount get me?

Protected NCB?
Premiums still go up if you claim, or so I'm told.

 

[Richiew]

I expect it is all big data these days. Put all your details in. They have data samples of millions and your personal driving record is neither here nor there. Go for a renewal and have you claimed within last five years? They know the answer already and there's little extra credit to be had.

 

[Memmeddu]

Do you still believe in the tooth fairy as well?

Let's put in this way, I drive 6 years now, started on my own, insured at my name, cars registered at my name (Fiat Punto, FSM126, and not longer mine Audi A4 Avant) never had a single problem, but insurance bill always rising up
I'm in first class ever since I've got my little Punto.
My hope is that I'm finally 26 years old and now at December I should see a major discount on insurance price.
Reality they'll find out something to rise the price once more
My contract is already lasting 5 years with the same insurance company, previously I've insured my car with another company.
1 Year it was 350 euro every 6 months
2 year it was 340 ish
3 year it was 335 the lowest I've paid
4 year it was 360 ish
5 year it was 370 ish
6 years it is 398 euro
Problem Borns now cause I've been trying asking to other companies and mine still the lowest price
And remember, first class, experienced driver, 0 claims, 0 tickets, fully loaded points on my license.

 

[Richiew]

Best mate worked in insurance when first starting work nearly 30 years ago. Best advice to another mate who was flat sharing with another bloke was claim you are a couple as the premium is cheaper.

He did.

 

[Bobtail4x4]

you can "link" your NCB onto a classic car policy,

 

[malcolm]

I'm not a boomer but they also ask if you have claimed in the last so many years. I'll give the classic policy people a phone and see what they can do. They'll be closer to £100 than £300.

 

[Richiew]

Years ago, I expect it mattered with limited, glorified paper records but now you will be lumped in a co-hort for the algorithm.

 

[Nomad]

Talk to an actual broker rather than using the online comparison sites.

Classic policies don't add to your NCD *but* if you tell your insurer when you take out your classic policy they will make a note of your NCD. At the end of the policy they will confirm your *still* have the same NCD. It's a way to make sure your NCB isn't "wiped". My insurer called this "keeping the NCD warm". Normally your insurance company will wipe your NCD after 2 years if it's not attached to an active policy (ask me how I know !)

Ask your insurer about keeping the old vehicle insured for a extra month while you sell it. One of my insurers offered this as it's a fairly common situation.
ie transfer insurance to new vehicle, old vehicle is still insured for 1 more month so test drives etc are all legal..

 

[Seadog]

I expect it is all big data these days. Put all your details in. They have data samples of millions and your personal driving record is neither here nor there. Go for a renewal and have you claimed within last five years? They know the answer already and there's little extra credit to be had.

I was told a few years back, by a broker, that just changing tge date by one or two days can make a significant difference to the premium. If the data base says that a particular date has a higher risk, then that will be reflected in the premium.

 

[dobbslc]

I heard that getting a quote 21 days before it's due helps and it certainly seemed to when I re insured the bike.

 

[jimbo84]

It’s maybe only beneficial for the younger end of the market. Possibly once your over a certain age it’s just the price it is regardless of NCB.

It also gives them the option to upsell you some protected NCB, insuramce on insurance.

The sweet spot for purchasing insurance is 21 days before you want the policy to start. You aren’t a last minute chancer nor over prepared, favourable for the algorithm.

 

[BrokenBiker]

It’s maybe only beneficial for the younger end of the market. Possibly once your over a certain age it’s just the price it is regardless of NCB.

It also gives them the option to upsell you some protected NCB, insuramce on insurance.

The sweet spot for purchasing insurance is 21 days before you want the policy to start. You aren’t a last minute chancer nor over prepared, favourable for the algorithm.

just tested this on a quote for a shogun...

changed nothing but the policy start date...originally set at 30 days time and its 109 a month, if i set it for 21 days time its 112 a month

if i set it to start today its 121 a month, but if i set it to start in 2 days time its back down to 107 a month...baffling...

 

[DanZac]

I think the getting a quote to start a policy today thing, is loaded because they see you as impulsive "I must have that new car today" or forgetful "Bugger the car insurance has run out and I need the car today".

Both of which equal higher risk in the eyes of the underwriters, who will wring every penny out of you they can.

No idea about the other date differences though.

 

[Seadog]

If there are more accidents or thefts on a particular date then it will be used by the algorithm to affect the price.

 

[AVI_8]

When I first bought my classic 911, 20 years ago I was told by a broker to keep my NCB on my daily driver, I’d presumed that moving it over to the Porsche would be the cheapest option, but not the case with a classic on a limited mileage policy.
With regards to the 21 days prior to renewal, I’d let a policy lapse by a couple of weeks as I’d sold the car just prior to renewal, when I bought the replacement car not long after I insured it the day before I picked it up, it cost more than I expected and sure enough when I renewed it the following year it went down by a good margin about 40 odd percent
So with renewals in my experience, definitely try to renew it earlier sooner than later.

 

[knighty]

I wouldn't be surprised if there databases of data for pricing quotes is a total mess, but it'll be ignored until it costs them money