Insurance

[Lelisevis]

2000bhp or not it's still a Citroen

I was so embarrassed by mine I drove it into a lamp post in a moment of enlightenment.

[alanbradley]

2000bhp or not it's still a Citroen

I was so embarrassed by mine I drove it into a lamp post in a moment of enlightenment.

lol!

A

[AJB]

Just got off the phone with another insurance company who gave me the option of taking out one of those Bonus accelerator policys which sounded like it should save me a bit of money in the long run even if its only 9 months before i have to renew it.

I quickly went through all the numbers from that policy and compared it to a standard 12 month policy and unless i have majorly screwed up im sure the 12 month works out about £900 cheaper over 5 years than the bonus accelerator.

[Gnome]

Just got off the phone with another insurance company who gave me the option of taking out one of those Bonus accelerator policys which sounded like it should save me a bit of money in the long run even if its only 9 months before i have to renew it.

I quickly went through all the numbers from that policy and compared it to a standard 12 month policy and unless i have majorly screwed up im sure the 12 month works out about £900 cheaper over 5 years than the bonus accelerator.

So go on then, how'd you work that out?

If you're comparing the cost of the 9 month to the 12 month, the 9-monther should deffo be cheaper.

It also means you have 5yrs NCB in 45 months, rather than 60 months!

Bonus accelerator should be a hell of a lot cheaper!

[Lelisevis]

Be careful, not all companies will accept those Bonus accelerators as full years which I suppose is right. It's a bit of a con really to trap you with the same insurer or your NCB is worthless.

[AJB]

Ok did it again a little more thorough this time, £900 was a little off but i still dont believe i was too wrong.

I have assumed that i would have the policy for a whole 5 years not just the time taken to work up to 5 years NCB.

With the Bonus accelerator it works out at about £2334.95 for 45 months and an additional 15 months brings the price up to around £2799.61

I have used the best quote recieved for a 12 month policy which starts of £28 cheaper than i could get the bonus accelerator for, which over 5 years works out to be £2241.05. Even if i were to have a 12 month for the same cost as the bonus accelerator it would still works out £464.66 cheaper.

Admittedly in reality the quotes i have used arn't really comparable due to the fact they are both from different companys however the person on the phone stated that the bonus accelerator would always be cheaper in the long run even after being informed of the best quote i had recieved to date.

I do have this little feeling that i have missed somthing out though ;)

[Gnome]

Be careful, not all companies will accept those Bonus accelerators as full years which I suppose is right. It's a bit of a con really to trap you with the same insurer or your NCB is worthless.

I was worried about the same, but after talking to Elephant (my current insurers), and about a dozen other top insures (NU, etc), they all accepted it as a year's NCB.

[Adam-mc Yarris]

Im 20 i have a 1.0l yaris verso. and the cheapest i could get was £800 around £67pm. and that with my dad as the policy holder and i am a named driver only been driving since november worst of it is my dads a driving instructer

[Yaris SR Kid]

Bonus accelerator is still dam expensive because you have to stay with them for the course of the 45 months as if you decide to leave after two years then you actually still only have 2 and a half years no claims and no one takes half year no claims!

[Yaris_Tsport]

Yaris TSport

£810 fully comp elephant 10month.

22years old

1years no claims and 1 accident

[jay dh]

Bonus accelerator is still dam expensive because you have to stay with them for the course of the 45 months as if you decide to leave after two years then you actually still only have 2 and a half years no claims and no one takes half year no claims!

you do not have to stay with them for 5 years, lots of companies (as already stated) do a 10 month policy so you will be fine. i have 3 years no claims, now starting my 4th on 10 month policies with 3 companies and no trouble.

i would say do the bonus scheme as for a young person it makes a difference.

im paying £370 for my Tsport and im 22 with 3 years NCB and no crashes or convictions with elephant. i would say add a parent onto your policy as that will bring the amount down. if you can keep the car on a drive or garaged as that will help too!

[Gnome]

Bonus accelerator is still dam expensive because you have to stay with them for the course of the 45 months as if you decide to leave after two years then you actually still only have 2 and a half years no claims and no one takes half year no claims!

Lies! You can leave Elephant after 10 months, and under their bonus accelerator policy, have a year's NCB, and take it elsewhere.

Of course though, no one accepts half a year's NCB, even if you're on a standard 12 month policy.

i would say add a parent onto your policy as that will bring the amount down. if you can keep the car on a drive or garaged as that will help too!

Good advice. A female driver (ideally without convictions, etc), added to your policy will; most of the time, bring it down quite considerably. I have my sister on mine as a named driver.

Adam - I hope your car is used mostly by your Dad, because it's illegal to state him as the main driver if you're using it more than him (I.e. A daily basis).

[Demonic Angel]

Adam - I hope your car is used mostly by your Dad, because it's illegal to state him as the main driver if you're using it more than him (I.e. A daily basis).

John Boys right... its called "fronting" and it's illegal.

In the worst case, should you do this, a claim could be called invalid meaning that you would not receive a payout and the younger driver could be convicted of driving without insurance.

As a minimum the fine would be severe and 6 points is generally the basic penalty. For young drivers this could potentially mean the loss of their license.

A vehicle being used for commuting by a student could be the evidence an insurance company would need to invalidate the policy for fronting.

The safest course of action is to insure in the young drivers name. This carries the extra benefit of them being able to accumulate their No Claims Bonus.