No Claims Discount

[BoredBloke]

My quote is high because the car stays in London, so I'm told - poxy Mondeo on a 55 plate, miniscule milage per year (7k) and 10 years NCD kept 24/7 in a residents only secure car park etc. I could put down my home address but Rochdale tends to be as bad as London in terms of insurance

[Ticktock]

My new (to me - 2010 reg) Audi A6 2.0 diesel with 6 years NCD is £320 (SDPC + Business).

[Platypus]

My new (to me - 2010 reg) Audi A6 2.0 diesel with 6 years NCD is £320 (SDPC + Business).

Very good price!

[Old Hack]

My quote is high because the car stays in London, so I'm told - poxy Mondeo on a 55 plate, miniscule milage per year (7k) and 10 years NCD kept 24/7 in a residents only secure car park etc. I could put down my home address but Rochdale tends to be as bad as London in terms of insurance

Its all them young girls you're trafficking...

[BolshieBastard]

In just over a month I have to re do my car insurance. With that in mind I decided to look up the benefit of the NCD.

Moneyfacts.co.uk suggests this

Years Average % Reduction
1 30%
2 40%
3 50%
4 60%
5 + 65%

So I went onto Admiral and got a quote for my car with 0 years NCD = £585
I then adjusted it to the 10 years NCD I actually have and it dropped to £475. Thats a 19% reduction.

How the hell do you get the big reductions some companies advertise. Axa say that you can get up to 90% because of your NCD.

The clue is in the 'up to' bit.

Insurance is made up of a basic premium then, lots of other bolt on bits such as legal protection, windscreen cover, hire car etc, etc. These things dont generally attract the discount from the No Claims Discount so overaal, the NCD doesnt reduce the whole payment.

[Paddy]

Insurance companies don't like "unlucky" drivers

Exactly, old school friend of mine, a very good driver but he has written off three cars. All of the accidences were caused by the other party so their Insurance paid up. I have had no accidents because so far I have taken action to avoid them. His insurance is double that of mine.

[kal]

Agree its a mystery how insurance companies come up with their figures.
Had a renewal quote come in and the only change I made to the policy was to reduce the number of cars in the household from 2 to 1 (since I sold my car and commute to client-co via train), guess what, an extra £19! No idea why...

[SueEllen]

Admiral/elephant rate for no fault accidents + attendance on speed awareness courses - they also say they won't make a payout in the event of driving under drink or drugs - tried to find out if that meant payout to an injured 3rd party or just for your own expenses

By default all insurance companies have to pay out if they insure a car and a third party is injured. (That's why they want you to cancel your insurance if you sell the car.) So if you were drunk and derailed a train they would have to pay out the £35million by default.

The insurer would then have to pursue you through the courts to get the money back. Most would give up particularly in the example given as it's clear even if you did have the money at the beginning you wouldn't after the court case.

[Platypus]

Agree its a mystery how insurance companies come up with their figures.
Had a renewal quote come in and the only change I made to the policy was to reduce the number of cars in the household from 2 to 1 (since I sold my car and commute to client-co via train), guess what, an extra £19! No idea why...

In a 2 car household, each car is on average likely to be driven less than a single car would be, so more risk = higher premium

[SueEllen]

Agree its a mystery how insurance companies come up with their figures.
Had a renewal quote come in and the only change I made to the policy was to reduce the number of cars in the household from 2 to 1 (since I sold my car and commute to client-co via train), guess what, an extra £19! No idea why...

Renewal quotes are an easy rip off target.