Admiral/Elephant/Bell 10 Month Cover

[West]

Twas the only way I could insure my Cooper S @ 20, managed to get a quote of £1,500

It's certainly starting to help now as after 2 years with Elephant my insurance is down to £850 odd when I get my 2nd years ncb.

 

[The Running Man]

An oil change costs what, less than £50? half that if you do it yourself. If you can't afford this then can you really afford to run a car? Most people who are in control of their finances have a rough idea when their insurance and car tax is due, so they can budget accordingly.

what do you mean? oil isnt the only servicable item. but i let the condition of my oil dictate my service schedule.

of course i can afford £50.

its affording £50, then the other £100 for the rest of the service, the other £200+ on tax and another £700 on insurance within 1 month that is the problem?

but hey what do i know, if you can work out a way that paying 1100 in a single month is easier than 700 in the same month, im all ears!

 

[Janesy B]

but hey what do i know, if you can work out a way that paying 1100 in a single month is easier than 700 in the same month, im all ears!

Putting aside £100 a month so you don't even feel it?

 

[skimpybeardy]

The document states "1 year NCB" and that's it.

You do pay more per month than on a 12 month policy, it depends whether the extra NCB is worth more than the increased premiums.

Only issue might be saying 1yr NCB if you've had your licence for 10 months, but I'm sure that's rare and can be easily explained.

Agreed, just had mine through from Bell (says 1 years NCB), I had a 10 month policy, they are now doing away with it - so im now on a 12 month.

 

[rypt]

they are now doing away with it - so im now on a 12 month.

No they aren't they still have 10 month alive and well on their website

 

[[TW]Fox]

Twas the only way I could insure my Cooper S @ 20, managed to get a quote of £1,500

How as it the only way, its not as if they wouldnt offer you a 12 month policy.

 

[DaveyD]

Putting aside £100 a month so you don't even feel it?

Exactly! Maybe I'm a little anal/OCD, but I have a spreadsheet that lists all my expected outgoings (i.e. car tax, fuel, insurance etc etc) over the year, I then divide the total by 12 so I know exactly how much to put away every month to cover car insurance, making sure I put a little extra away as contingency for things going wrong. That way when insurance comes down in the year, you get a little more in your pocket! It also stops you ever needing the excuse of I can’t afford to do x as I’ve had a bad month of car tax + insurance + MOT.

 

[malfunkshun]

The document states "1 year NCB" and that's it.

You do pay more per month than on a 12 month policy, it depends whether the extra NCB is worth more than the increased premiums.

Only issue might be saying 1yr NCB if you've had your licence for 10 months, but I'm sure that's rare and can be easily explained.

I have issues with this, I insured my car before I took my test and amended the policy when I passed. End result is that I have 2 years NCB and an 20month old licence which some of the online quote engines do not accept...but plenty do

 

[DiG]

Putting money away each month is a great idea, but it means that you have to pay insurance twice in one year. Ie you pay in full for the year and then put away money every month for the next years insurance.

 

[Janesy B]

Putting money away each month is a great idea, but it means that you have to pay insurance twice in one year. Ie you pay in full for the year and then put away money every month for the next years insurance.

 

[iaind]

Oh wow

 

[Saytan]

well good for your first year. after that, just silly.

 

[E61 Grouphead]

Another contender from the maththeman school of mathematics here

 

[rypt]

Another contender from the maththeman school of mathematics here

Think about it guys.
Say you buy a car, well it need insurance.
So you HAVE to pay this up front. But then, you now also have to put money aside each month for the next year.

 

[Janesy B]

You're not paying for it twice, you are saving up for the next year

 

[rypt]

You're not paying for it twice, you are saving up for the next year

You are saving up for next year despite just having splashed out a full amount within saving up for it before hand (if you buy a car without saving anything, or if you buy a car of a higher premium)

Which means in the first year you pay + save double the premium.

 

[Kappa]

You're not paying for it twice, you are saving up for the next year

Yeah but within a 12 month period give or take a day or 2 you'd be paying twice, but this ONLY applies when you first start driving.

 

[rypt]

Yeah but within a 12 month period give or take a day or 2 you'd be paying twice, but this ONLY applies when you first start driving.

Or if you get a car with a higher premium as you won't have saved enough, or if you get a 2nd car etc.

 

[Janesy B]

Yeah but within a 12 month period give or take a day or 2 you'd be paying twice, but this ONLY applies when you first start driving.

You don't pay twice, the money is just sat there doing nothing for the next time you want insurance. The money hasn't been spent, you can still access it,

 

[Lopéz]

well good for your first year. after that, just silly.

Why? Say you use a bonus accelerator for 6 years - you will have accumulated 7 years of NCD, so you have a "free" year of NCD. Of course it also depends on the cost of 10 months vs 12, but it certainly isn't "just silly" to stop using a bonus accelerator after a year.