Insurance...

[Mish]

Ok so you have your Lotus insured for X amount of miles per year and are building up your no claims bonus....

 

You then buy your second car for running to work and back, to insure this car you have to declare how may no-claims bonus years you have etc. etc. BUT...

 

If you are getting no claims bonus off each vehicle does that mean you are able to combine them at the end of each year so in effect your no claims is building up much quicker i.e. 2years in the space of one as 2 insurance payments to two different cars... and if you have a knock say in your 'hack' car willl this remove no claims for next time you insure your pride and joy?

 

I'm confused... I'm guessing its a case of which ever is the most expensive and stupid way round is the correct one! Generally Insurance companies know how to make their money!!

 

You could have a bonus accelerator on one car and be getting no claims quicker on that one than your main insurance and this would mean you orginal insurance with your no claims is actually adding on bonus accelerated no claims but can it do that and, and, and.... AAAGGGGHHHH!!!!!

 

 

 

 

Help please

[jsa_simms]

The way I understand it is that the two sets of NCB are totally separate... so when you come to renew one car's insurance it'll be as if you didn't have the other car (and it's NCB). Now obviously you can swap the NCB over (if it randomly worked out cheaper overall to do that) or not use it at all (a lot of specialist insurers don't use NCB or will effectively mirror the one on your other car without actually using it).

 

So basically yes, you're right - the most expensive option is the truth!!

[kimbo]

Certain insurers will give a discount if you have more than one car insured with them but you have only earnt a no claims bonus on one car. We have 4 cars in the family and Admiral were by far the cheapest if we insured all 4 cars with them .... problem was I didn't really fancy Lotus with Admiral cover and it means renewal dates are geared to coincide i.e. one hefty bill. Also look into 'introductory bonuses' which often equate to one/two years bonus being given to attract you/new customers.

 

kimbo

[Chombers]

I've found that most specialist insurance companies (Heritage, A-Plan, Chris Knott etc) tend to offer a discount equivalent to the NCD i've got on my other car which effectiviely means i've got full no claims on the Elise even though i've only officially got one year.

 

I'm not sure if it works both ways though, in that if I made a claim on the Elise's insurance, I wouldn't loose my NCB on my other policy but I suppose i'd have to declare the claim when it came to renewal which would no doubt put the premium up.