Insurance - Accelerated Bonus

[Rick]

Has anyone had any experience with these through their insurer? As I understand it, after 10 months you essentially have one years no claims bonus. But will other companies still recognise this as a full years no claims or doea it only apply to the company issuing it?

A full year is about £200 more than 10 months, but if theyre gonna f**k me over with this dodgy no claims bonus business then I may aswell pay for a full year straight off.

Anyways, any help much appreciated.

Rick

 

[CocoPops]

Thing is that a lot of companies are doing it.

so all ya do is go to another "10month" place

 

[Lunner]

Some companies will accept it otheres wont, if you check you will find that alot of insurence companies are the same company, only under different names.

Worth it if you cans ee ytourself stayng wiht the same company for a while.

Work the quote ut per month, how much does it cost per month for the 10 months, and how much per month for the 12 months?

 

[CocoPops]

ie Ive gone from:-

Admiral
Elephant
Diamond

now looking at admiral or bell direct.

All are part of "Admiral Group"

they all offer 10 month or 1yr policies, and although their prices are similar, one is always cheaper than the other.

 

[Rick]

Im aware that Admiral go under many names. My cover is actually with Admiral at the moment but their policy on mods might mean that when this cover runs out, Ill look elsewhere. Has anyone actually tried transfering a 10 month accelerated bonus to a completely different insurer? And where they a bit arsey about it?

Rick

 

[Djw John]

Quote: Originally posted by CocoPops on 10 July 2004

ie Ive gone from:-

Admiral
Elephant
Diamond???

now looking at admiral or bell direct.

All are part of "Admiral Group"

they all offer 10 month or 1yr policies, and although their prices are similar, one is always cheaper than the other.

No offence but I assumed you were a guy, or did you pull the discrimnation card!

 

[MAC30L]

I had a policy with Admiral on a 10 month bonus accelerator. I recently renewed with Tesco on 12 month policy. Tesco were only interested in how many years NCB I had - not how I achieved it. I never been asked how I got my NCB nor heard anybody else saying that for the point.

 

[CocoPops]

Yes I am a guy
No I didnt have to do anything out of the ordinary.

I did the online quote, they came out lowest. I called em up and said "Am I allowed to take a policy?" and they said "of course, its just that we advertise as designed for women".

but youre right, legally they cannot only sell to women as that would be discrimination.

 

[Daz]

Im on 10 months on Elephant.. get 1 NCD at the end, and can go to any company then.

Works out better for me, cus Ill be 21 and have the 1 Yr NCD when I renew, so all quotes will be cheaper hopefully.

Worth it if you have 0 NCD.

 

[Tony]

Ditto^^^ Im on a 10 month accelerator with Elephant.

 

[badinvincible]

is there a huge difference? 2 months?

 

[Daz]

Quote: Originally posted by badinvincible on 12 July 2004


is there a huge difference? 2 months?

Theres just two monthly payments less.. but, as you get a full NCD, those last two months are expensive compared to what you will be paying the year after with the NCD.

 

[Levo]

I had a 10 month policy last year with Admiral - and renewed it this year for another 10 months, monthly payments are cheaper and I can build up my no-claims after loosing them to some scumbag busting my door and nicking the radio.

How do other insurance companies know if you got your bonus in 10 months or 12 - all they have ever asked me is how many years I have.

 

[Daz]

Quote: Originally posted by Levo on 13 July 2004


How do other insurance companies know if you got your bonus in 10 months or 12 - all they have ever asked me is how many years I have.

They dont.. and it doesnt matter as far as I know. Elephant just give you 1 Years NCD.

 

[Brooky182]

i guys i work for Admiral ,bell etc all we send out is how many years ncb you have not how long u are covered loads of companies do this kind of thing norwich union gives 1 years ncb if you have a pass plus.

 

[supasexyspeedy]

i always worried about that as im with diamond on a ten month policy, i always thought i would have to stay with them if i wanted the accelrated bonus! not that i would change anyway as they are by far the best!

 

[DAVE_RSi]

bump for ppl as ive just found this really informative, gd old search function saved a day of waiting 4 answers

thats me sorted then, admiral 10 month policy it is

 

[supasexyspeedy]

Quote: Originally posted by CocoPops on 11 July 2004

Yes I am a guy
No I didnt have to do anything out of the ordinary.

I did the online quote, they came out lowest. I called em up and said "Am I allowed to take a policy?" and they said "of course, its just that we advertise as designed for women".

but youre right, legally they cannot only sell to women as that would be discrimination.

Diamond still dont insure men tho, they pass all potential policys over to admirable. As i remember hearing you got insured with them so told my bloke to give them a call...and they said they couldnt insure him thru them but thru there sister company admirable.

 

[DAVE_RSi]

dont u mean admiral, not admirable lol, or am i missing something here

guna go with admiral for a 10 mnth policy, answer their phones bloody quick and everything seems in order, me as main driver then 2 older females as other drivers,

see how they are with paperwork now

 

[stusV6]

Rick what I found happens if you move companies the new company simply ask your previous company for NCB confirmation and they give it.

The time it causes a problem is if you change companies and claim 1years NCB before you turn 18 or as in my case you claim 60% NCB and Im only 20.....................thinking in 12month terms niether is possible.

Most companies do now recognise it though and more & more are offering it....................it really is the way to go and it is a LOT cheaper in the end.................me..................I now pay £2540 Fully Comp for a Clio V6

Cya Stu