A question about car insurance (No claims discount)

Raspberrycai · 26th March 2019, 14:58

Sorry if this sounds a bit stupid, but my car insurance is up for renewal in just under a month, so I've been looking round for quotes.

When my insurance is due for renewal I will have been driving for a year, and in that time I've had no accidents, and I'll have 1 years no claims discount, but i'm fairly sure my NCD is only awarded at the very end of my policy, and I'm looking to pay for my next year of insurance around a month in advance (basically ASAP) as it's cheaper.

If I say I have zero no claims discount, then the cost of insurance is £1821.57 with 8000 miles

If I say I have 1 year's no claims discount, then the cost of insurance is £1303.16 with 8000 miles , a difference of over £500

Am I right in thinking that at this moment in time, I have zero no claims discount, as NCD is awarded at the end of the policy? If so, do I buy the policy saying I have zero no claims or 1 year of no claims, as when the policy starts i'll have 1 year of no claims? I'll be insuring with a different company to the one i'm with now.

Thanks

MSS · 26th March 2019, 15:13

You should wait until you receive the renewal letter from your current insurer. This usually occurs 3-4 weeks before the renewal date. Then you will be able to claim the one year's NCD and use the renewal letter as proof to take out the new insurance.

Should you have an accident before renewal date, you should inform your new insurer including whether the NCD has been reduced as a result of a claim. They will most likely ask you to pay a higher premium for the next year as the material information on which the new insurance was based will have changed prior to the start of the insurance.

markypicks · 26th March 2019, 16:25

i changed my insurance this year because i got re ended last year and me car was wrote off , so i purchased another 75 they sent me a quote of 86 pound per month as of 51 pound per month which i was paying before the accident . i told them i was not going to re insure it with them , so i went on compare the market , put in my details and lo n behold im now paying 33 pound per month with a different insurance company and that includes legal cover and breakdown and 9 years no claims etc rgds mark

Slaya · 26th March 2019, 16:26

I've just done a similar thing myself and bought my new policy 5 weeks before mine expired due to the lower price - they came back within a couple of hours via email to say they had retrieved the updated no-claims bonus from the current policy.

MSS · 26th March 2019, 17:27

A genuine question - do you chaps actually find that there is a difference in insurance premiums between 5 and 3 weeks before insurance renewal date?

I have never found it to be the case. At less than 2-3 weeks, yes the prices do increase in my experience, but not beyond about 3 weeks.

macafee2 · 26th March 2019, 19:28

according to martin lewis, the money expert guy the best time to get a quote is 21 days before renewal.
Also when you get your renewal paper work give the insurance company/broker a call. Very often they can do insurance for cheaper.

I think it would be reasonable to say you have 1 years ncd and explain the date the year is up.
After all your renewal comes out before your year is up and they have given you a price and no doubt that has 1 years ncd

macafee2

26th March 2019, 14:58	#1
Raspberrycai Avid contributor Rover 75 Saloon, Merc 190E 1.8, '91 Yamaha SR125 Join Date: Oct 2016 Location: Chester Posts: 193 Thanks: 85 Thanked 60 Times in 36 Posts	A question about car insurance (No claims discount) Sorry if this sounds a bit stupid, but my car insurance is up for renewal in just under a month, so I've been looking round for quotes. When my insurance is due for renewal I will have been driving for a year, and in that time I've had no accidents, and I'll have 1 years no claims discount, but i'm fairly sure my NCD is only awarded at the very end of my policy, and I'm looking to pay for my next year of insurance around a month in advance (basically ASAP) as it's cheaper. If I say I have zero no claims discount, then the cost of insurance is £1821.57 with 8000 miles If I say I have 1 year's no claims discount, then the cost of insurance is £1303.16 with 8000 miles , a difference of over £500 Am I right in thinking that at this moment in time, I have zero no claims discount, as NCD is awarded at the end of the policy? If so, do I buy the policy saying I have zero no claims or 1 year of no claims, as when the policy starts i'll have 1 year of no claims? I'll be insuring with a different company to the one i'm with now. Thanks __________________ 2004 Rover 75 Saloon - Connoisseur S.E - 2.0 Diesel CDTi - Platinum Gold - Auto. 1991 Mercedes 190E 1.8 (Nico) / 1991 Yamaha SR125 (David) This vehicle (Nigel) was born Wednesday, 15th September 2004 @ 08:14:39 and was the 103,810th 75 to run off the production line, out of 112,381 - This vehicle was the 3,096th 75 CDT Connoisseur SE (135) to be made out of 4,744 - This vehicle was the 303rd 75 in Platinum Gold (code: MCN) to be made out of 1,685 Platinum Gold 75s

26th March 2019, 15:13	#2
MSS This is my second home Rover 75CDT, Jaguar XF-S 3.0V6, V'xhall Omega V6 Estate, Twintop 1.8VVT, Astra Estate and Corsa 1.2 Join Date: Dec 2007 Location: Suffolk Posts: 7,084 Thanks: 283 Thanked 624 Times in 440 Posts	You should wait until you receive the renewal letter from your current insurer. This usually occurs 3-4 weeks before the renewal date. Then you will be able to claim the one year's NCD and use the renewal letter as proof to take out the new insurance. Should you have an accident before renewal date, you should inform your new insurer including whether the NCD has been reduced as a result of a claim. They will most likely ask you to pay a higher premium for the next year as the material information on which the new insurance was based will have changed prior to the start of the insurance.

26th March 2019, 16:25	#3
markypicks Gets stuck in rover 75 saloon cdt club se re map 160 bhp Join Date: Dec 2018 Location: sheffield Posts: 558 Thanks: 227 Thanked 169 Times in 135 Posts	i changed my insurance this year because i got re ended last year and me car was wrote off , so i purchased another 75 they sent me a quote of 86 pound per month as of 51 pound per month which i was paying before the accident . i told them i was not going to re insure it with them , so i went on compare the market , put in my details and lo n behold im now paying 33 pound per month with a different insurance company and that includes legal cover and breakdown and 9 years no claims etc rgds mark

26th March 2019, 16:26	#4
Slaya Loves to post MG ZT V6 160+, MG TF 135, Focus 1.6 Zetec Join Date: Mar 2010 Location: Coventry Posts: 285 Thanks: 129 Thanked 68 Times in 50 Posts	I've just done a similar thing myself and bought my new policy 5 weeks before mine expired due to the lower price - they came back within a couple of hours via email to say they had retrieved the updated no-claims bonus from the current policy.

26th March 2019, 17:27	#5
MSS This is my second home Rover 75CDT, Jaguar XF-S 3.0V6, V'xhall Omega V6 Estate, Twintop 1.8VVT, Astra Estate and Corsa 1.2 Join Date: Dec 2007 Location: Suffolk Posts: 7,084 Thanks: 283 Thanked 624 Times in 440 Posts	A genuine question - do you chaps actually find that there is a difference in insurance premiums between 5 and 3 weeks before insurance renewal date? I have never found it to be the case. At less than 2-3 weeks, yes the prices do increase in my experience, but not beyond about 3 weeks.

26th March 2019, 19:28	#6
macafee2 This is my second home Rover 75 Saloon & Tourer Join Date: Sep 2012 Location: Lincoln Posts: 14,925 Thanks: 1,630 Thanked 3,032 Times in 2,181 Posts	according to martin lewis, the money expert guy the best time to get a quote is 21 days before renewal. Also when you get your renewal paper work give the insurance company/broker a call. Very often they can do insurance for cheaper. I think it would be reasonable to say you have 1 years ncd and explain the date the year is up. After all your renewal comes out before your year is up and they have given you a price and no doubt that has 1 years ncd macafee2