Second car insurance advice

vdh

Hello everyone,

I'd be grateful for the benefit of your experience in buying an insurance for my 2nd car?

My current car insurance is valid for another three months and has a 4 year no claims bonus protection. I have bought another car, which is 3x as expensive and I am trying to figure out the most cost effective way of car insurance.

Options I have considered so far:

a. Multi-car insurance with the existing insurance provider and its quote is more expensive than other providers (despite no claims bonus for the new car)

b. Cancelling the existing insurance. That loses me the 9 months no claims bonus for this year

Is anyone aware of other options like a monthly car insurance for the next three months and then I can take my 5 years no claim bonus to insure both cars, or insurance for less than 12 months so that I can then try to co-term my policies by taking a less than 12 months insurance on the first car?

Any other creative ideas that are both legit and cost effective?

Thanks!

scheming_gypsy

Ask your current insurer if they'll match your NCD on the car. Admiral have done it for me previously (i now have 9 years and 7 years on two policies) and Swiftcover offered to do the same as well this year when I ended up with three cars for a couple of weeks.

vdh

scheming_gypsy wrote: »

Ask your current insurer if they'll match your NCD on the car. Admiral have done it for me previously (i now have 9 years and 7 years on two policies) and Swiftcover offered to do the same as well this year when I ended up with three cars for a couple of weeks.

Thanks for your advice. That was my first point of call. However, despite them awarding me a complimentary 3 years no claim for my new car, their insurance premium is more expensive than what I can get elsewhere without any no claims discount.

slykatrinah

The best way for this would be to have both of your cars listed under the same car insurance policy.
Insurance companies have introduced this strategy where you can Insure Your Two Cars under One Policy
It is money saving as one earns discounts on the insurance policy of both cars.

vdh

Based on the online quotes that I had raised, I got a call from Admiral and they sorted me out nicely. I have now got a multi-car insurance with Admiral. A very competitive price on both cars. Insurance on one car has kicked off now, for the other it will kick off when it is due for renewal. The policies have been co-termed, and I keep on enhancing my no claims bonus too.