Bell - Crazy car insurance

PMKeates

PMKeates

PMKeates

Soldato
Joined
16 Jul 2004
Posts
14,075
With my Admiral car insurance policy finishing tonight at 20:10, I thought it'd be best to reinsure the car. Shopping around, again, only Admiral group companies can offer even reasonable quotes. They really seem fond of the 330!

What I have just got, however, is kinda shocking even me.

20 years old
1 fault claim
DOC cover included for ME
IG17 BMW 330i Sport

10 month "Bonus Accelerator" policy

£1565.97 :cool:
 
I'm with Bell, best quote for me by far.

Tesco were asking £2500 for my Rover, Bell wanted a touch over a grand with 0 NCB and a pending claim.
 
dirtydog said:
I'd be shocked if my car insurance was £1500 too ;)
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:p

You have to admit it's a pretty nice quote. Especially with DOC. DOC is actually useful to me, and I just can't believe it's applicable. Usually you have to be >25. I had to keep asking him to confirm that!
 
It's a 10 month cover though. Equivalent to £1900 annual cover. It's almost a fleet cover for most of regular people.
 
v0n said:
It's a 10 month cover though. Equivalent to £1900 annual cover. It's almost a fleet cover for most of regular people.
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Oh yeah, for 12 months they wanted to charge just under £1800 IIRC. However, I remember I calculated on here a while ago 10mo vs 12mo policies, and while I naturally assumed that 10mo was a rip off by the insurance companies, I managed to surprisingly disprove myself - at least in the case of young drivers with little or no NCB, by running a mass of quotes through on the net and working out the differences :)
 
How can it be a better deal then?

£1565.97/10x12= £1879.16

That's more than a smidge under £1800 for the year.

Or if you take that over 2 years:

24 months @ "10 month accelerator prices" = £3758.32

24 months @ "Annual prices (working on £1800/anum)" = £3600

I don't see the bonus really....does that 2 month early NCB equate to more than the difference between the two policies every year?
 
MrSix said:
How can it be a better deal then?

£1565.97/10x12= £1879.16

That's more than a smidge under £1800 for the year.

Or if you take that over 2 years:

24 months @ "10 month accelerator prices" = £3758.32

24 months @ "Annual prices (working on £1800/anum)" = £3600

I don't see the bonus really....does that 2 month early NCB equate to more than the difference between the two policies every year?
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It's not that simple. Compare the differences over an equal term, such as 60 months (6x10mo policies, 5x12mo policies), and the reason for the savings stem from the fact you enjoy the fruits of NCB earlier on the 10mo policies than on the 12mo.

Also, there is a premium that stems from the perks of a 10mo policy. A 12mo policy is NOT 12/10 * 10 month policy price.
 
I never had a problem when changing from a 10mth policy to a normal one, forwarding 5yrs NCB. All the insurance companies I got quotes from were not phased in the slightest.

Sheesh, £1565 on insurance, that would get me nearly 4yrs insurance or 1yrs insurance and lots and lots of petrol!

I So love being older now :D
 
Rotty said:
the other problem is that other insurers may not accept the NCB
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I had that problem with a bonus accelerator Bell Direct policy eight years ago but people tell me it is no longer an issue, which I was surprised about.
 
Rotty said:
the other problem is that other insurers may not accept the NCB
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The only problem is that you could end up with more NCB than the years that you've had your licence for. Some insurance companies throw a hissy fit at this, but if you explain to them, they shouldn't have a problem with it.
 
My previous post referring to the perks of 10mo policies:

I'm in two minds on this. When has a financial product ever been in the genuine interest of the customer

The difference in cost is quite significant, but a two month/year delay to your no claims may well be insignificant in the long run, as the benefits reduce a lot as you gain in experience, age and years claim free.

Assuming a NCB discount of 30% for the 1st year, increasing by 10% each year, up to a maximum of 70%:

1st policy: £1000 12 months, 10 months £870
2nd policy: £700 12 months, 10 months £609
3rd: £600, £522
4th: £500, £435
5th: £400, £348
6th: £300, £261

So for the 12 month policies you have 72 months' (6 years) cover for £3,500, which is £48.62 per month. For the 10 month policies, you have 60 months' cover for £3,045, which is £50.75 per month!

So it would seem the 12 month is better...

Except that at the 5th policy, you've have been covered for 60 months on the 12 month policies for £3,200, but we've already seen that 60 months on the 10 month policies is £3,045!

I seemed to have proved myself wrong :p
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Although the method I used above to prove it isn't perfect - it fails to take in to account the reduced insurance risk one poses, but even that would only serve the 10mo policy better as your risk would be reducing at more regular intervals :)
 
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agw_01 said:
The only problem is that you could end up with more NCB than the years that you've had your licence for. Some insurance companies throw a hissy fit at this, but if you explain to them, they shouldn't have a problem with it.
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Not had a problem with that and i have changed insurers a couple of times since my NCB over took how long i have been driving.
 
Yup Bell are ridiculously good, paid for my renewal a few months back and with a similar record (19yrs old, 1 fault accident, 1ncb, DOC included, fiesta st) my quote was £1150. If any other insurer wanted to touch me it was £2900+!!

Out of interest as well I got a quote for a galant VR4 the other day which is grp 20 and they wanted 1700 which I thought was very good.
 
ffs ;(


1600 a year


i'm running about in a albeit lower grouped car, a4 tdi 115 mods declared (remap towbar and stereo

fully comp with me missus and breakdown cover. 197 quid a year ;) oh and i'm 25 before you accuse me of being an old fogey
 
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