10 Month - Bonus Accelerator insurance?

[AhmedRSi]

Does anyone know about these?

Offered by the like of bell/admiral/elephant...

There website states:

The standard car insurance policy runs for 12 months.

We offer a special Bonus Accelerator policy aimed at customers building their No Claims Bonus. This policy runs for 10 months. Providing you do not have a claim during the policy term, we will offer you a renewal price based on you having earned a full year of No Claims Bonus. This allows you to build up your No Claims Bonus more quickly, saving you money year after year.

After 10 months, what happens? do i get no claims i can transfer to another company or just elephant?!

 

[Gumby]

Paying for 12 months cover when they only give you 10? Sounds like a plan... :slap:

 

[AhmedRSi]

No, it works out roughly the same price....

eg 1200 for 12 months or 1005 for 10 months

 

[Gumby]

Oh cool! Why not try it?!

 

[kie1an]

i have just took out one of these policy's for my new car and you do get a years no claims even though its only a 10 month policy !!

 

[swirly182]

You dont pay for 12 months, you pay for 10 months - no more/less. At the end you have 1 year NCB. Think I did it for two years.

 

[Beef-Mc]

Yep at the end of the year, you'll get a document which says you have "X" amount of NCB and most insurers take that at face value.

 

[AhmedRSi]

currently i have 2 years no claims (direct line).

So if i renew with bell/elephant/admiral now and choose the 10 month policy, then after 10 months want to renew with a different company... i will still have 3 years no claims? other companies will recognise this? if so... sounds like an amazing idea!

 

[caister]

I did it for two years and i thought it was worth doing. Do check they dont sting you though as some companies charge more per month for the privilage.

 

[jenic]

I have just started one, not had my own insurance before, always been in my mums name and although i have saved over £1600 in the last 2 years i wish i had just done it from the start so i could get a sport now. Anyway, i think its gunna be great and hopefully will have 2 years NCD in 20 months!

I did it for two years and i thought it was worth doing. Do check they dont sting you though as some companies charge more per month for the privilage.

To get around this i used my mums 0% CC and pay it off monthly, was going to get my own but M&S declined me due to recently changing jobs apparently.