Car Insurance - Do I Need?

Quentin

victor2 wrote: »

I would also say yes to legal cover.
In my experience it means you just let the insurance co. deal with any claim and the associated legalities. The most you would have to do is forward any legal letters you receive onto your insurers - assuming nothing like a court appearance resulted.

Your insurance company will always deal with any claim made against you as part of your policy cover. That is not what "legal cover" is for at all!

Adams1

Add two female name drivers over the age of 30 whom have held their licenses for over 5 years and you could knock off around £100.

adamc260

mikey72 wrote: »

Also, tbh, I can't see how selling insurance for insurance ncd could be loss making for an insurance company, they must make money on it, or they wouldn't be selling it.

Hmmm true in other jobs i've been in I was told to 'promote protected NCD'. Because I'm only 22 though the loss of 2 years NCD to me is HUGE and thats why I protect it when it only costs me about an extra £60-70 or so.

victor2

Quentin wrote: »

Your insurance company will always deal with any claim made against you as part of your policy cover. That is not what "legal cover" is for at all!

I should have added against a third party after claim.
It's like all insurance though, money for nothing until you need it, then it can pay for itself several times over.

cyclonebri1

Are you insuring fully comp? Does the value of the car warrant it?

Third party only an option? Unsure to be honest just how much cheaper that would be now that driver liability, if that's the correct phrase, seems to be most important.

dacouch

adamc260 wrote: »

Hmmm true in other jobs i've been in I was told to 'promote protected NCD'. Because I'm only 22 though the loss of 2 years NCD to me is HUGE and thats why I protect it when it only costs me about an extra £60-70 or so.

Insurers normally promote pncb as a) It's gives a bigger premium so means the insurer will make their profit margin of circa 3% to 10% on the extra premium b) It often promotes renewal retention if a customer does have a claim or claims under it c) It's best practice to offer it to a client, if they have not offered it, it could be argued they have not indentified the customers demands and needs etc.

PNCB really comes into it's own if you're unfortunate enough to have two claims that are classed as fault within a year or two

vaio

cyclonebri1 wrote: »

Are you insuring fully comp? Does the value of the car warrant it?

Third party only an option? Unsure to be honest just how much cheaper that would be now that driver liability, if that's the correct phrase, seems to be most important.

I do my DOD car insurance and for him the cheapest option is always FC with a really high excess (£1k on an essentially worthless old Fiesta).

I think the days of TPFT as a cheaper alternative have largely gone

vaio

dacouch wrote: »

Insurers normally promote pncb as a) It's gives a bigger premium so means the insurer will make their profit margin of circa 3% to 10% on the extra premium b) It often promotes renewal retention if a customer does have a claim or claims under it c) It's best practice to offer it to a client, if they have not offered it, it could be argued they have not indentified the customers demands and needs etc.......

Your option a. was the one I'd guessed but as for b, does that mean that protected NCB is not transferable between companies?

I'd always assumed it was and if it is I don't see how it's an aid to retention

for example, if I have a couple of fault claims so my NCB only exists because it's protected, can I move it to another company?

victor2

vaio wrote: »

Your option a. was the one I'd guessed but as for b, does that mean that protected NCB is not transferable between companies?

I'd always assumed it was and if it is I don't see how it's an aid to retention

for example, if I have a couple of fault claims so my NCB only exists because it's protected, can I move it to another company?

Usually it is transferable if done within two years. Some companies will extend that period but only if you stay with them.

vaio

Sorry, I don't understand your answer......

If I have two or three fault claims so my NCB only exists because it was protected and I want to move to another company do I move with max NCB or none?