No Claims Bonuses

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stefg

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Hi,

Does anyone know if there is much leeway on obtaining no claims bonuses?

I have an insurance policy that expires in November which will give me one years no claims. There is a new car that I have spotted and would really like to buy but my current insurance company will not give me a competative quote for the car.

Other companies are offering me a very competative rate, if I have a years no claims, so it just seems a little annoying that for the sake of 5-6 weeks I can't get a decent quote. I would like to get the new car now as I have found one that is great knick and a good price and it won't last long on the forecourt of the garage.

Do you think the insurance company might give me the no claims bonus if I cancel the policy now as I have already paid the premium for the full year.

Thanks,
Stef
 
Insurance companies will only quote for a maximum of 30 days into the future. In other words, they will only take your no claims bonus into consideration when your renewal date is 30 days or less away.
 
Alternatively, buy the car now but don't drive it til when you can use your no claims
 
Thanks replying, that's interesting to know. That potentially means in two weeks I could get my years no claims.

I think with a deposit I could get the garage to hold the car for a couple of weeks.

Now I'm thinking if I took a policy without my no claims (a good bit more expensive) and then, in two weeks, had my no claims would the insurance comapny adjust my policy quickly e.g. only charge one month at the higher rate? Would there be any costs or penalties for this?
 
Are you trading in your present car?
Maybe best to leave a good size deposit on your desired car, and wait til the time you can change. Have you chatted to your insurance company about this? Some companies are able to do some minor adjustments to your policy provided you stay insured with the same insurance company
 
Sunster said:
Alternatively, buy the car now but don't drive it til when you can use your no claims
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I had considered this but if the car was stolen or damaged while parked, I wouldn't be able to cover the financial costs comfortably.

How long do you think would be reasonable to ask a garage to hold a car (under their insurance) after a deposit has been paid? Would a few weeks or even a month be asking a bit much?
 
I'd say a couple of weeks should be fine although it may depend on how much space they have. They could tuck it in somewhere. If it is a nice car, sometimes garages like them displayed on the forecourts to draw potential customers in. They are salesmen and as long as they get their money that's the main thing. Have you talked to them about this?
 
If you change the car now you will only be paying the increased premium for the one month remaining on your existing policy - ie you transfer your policy from your existing car to the new car - can't see that it will be that pricey unless you're upgrading from a mini to a ferrari :D .In November shop around with ( hopefully ) the benefit of one years no claims.
 
Eagle Star offer lady drivers very competitive quotes - worth checking out. My better half is with them.

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Thanks replying, that's interesting to know. That potentially means in two weeks I could get my years no claims.
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I don't think that is what was meant by the earlier post. You will not get the 1 yr bonus until the policy year is up. I agree best bet is to take the uncompetitive quote from current insurer for the sake of the remaining 6 weeks, and then switch to more competitive insurer with your 1 year in the bag.
 
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