Diamond 10 month accelerator policy for new driver help ?

foxyuk

Hi guys daughter turned 18 and passed test just bought her a wee car.
Diamond is £947 on 12 month policy
£826 on 10 month accelerator

Anyone done a 10 month accelerator b4? Any pros or cons?


Thanks

vaio

do other companies accept the 1 year NCB gained in 10 months or are you tied to diamond for the second year?

caeler

I remember doing one of these years ago and only certain companies accepted that I'd gained 1 NCB, I think they might have been part of the same group. As NCB is essential to reduce premiums long term, ditch the accelerator and go traditional 12 months would be my opinion.

Also - It is far cheaper per month to go with the 12 month policy:

£947 = £78.91 per month
£826 = £82.60 per month

dacouch

If the twelve month premium is pro rata around the same as the 10 month policy, I would tend to go for that if it's economical as you then know the whole market will accept it as no claims bonus.

Shorter policies can sometimes make sense if it would mean the renewal date works out well in relation to your birthday

forgotmyname

The 12month policy will give you more options when the renewal comes.

No good if they want more than other companies next year. But you cant go with the other companies because they dont accept 10 months as 1 years NCD.

foxyuk

At 18 the most competitive companies are elephant, diamond, bell and admiral who are all same comPany in 10 months time I'm sure the same companies will be still the cheapest that's why I thought it would be beneficial And jumping to another would not make a difference as u would probably end up with policy with same group of companies

marris

i had this for my first insurance. no probs. stayed with diamond for second year but on 12 month.then changed to lloyds as it was muuuuch cheaper and diamonds could not match it. then co-op as it was cheaper, and now churchil as again i got it cheaper. compare every year.and no probs with first year accelerator. hth

newfoundglory

I have used the 10 month policy with Admiral on 2 occasions since passing my test in Jan 2010.

You should get a letter confirming a full year no-claims bonus at the end of 10 months, which *will* be accepted by other insurers.

But be warned.

Its probably best not to let on you had a 10 month policy (and you are under NO obligation to do so, no matter what anyone tells you).

I started driving 2 months after I passed my test and I moved to Aviva after 10 months with Admiral using the proof of no claims (which gave no indication of a 10 month policy)

The problem you will have is that you may end up having held a full license for less time than your no claims bonus. You WILL struggle with comparison websites if you encounter this (almost impossible) situation.

I didnt get a car immediately, and I have now reached a point where I have held my license for 2 years and 10 months, but I have 3 years of no-claims bonus this month. This is because I switched to another 10 month policy with Admiral at the start of the year.

Typically, you can't quote for a policy with a 2-year license and 3-years of no claims.

That pretty much much restricts to me the EUI/Admiral group at the moment - but i'm not complaining because they are the cheapest this year by a small country mile

And i'm going for another 10-month policy knowing that i'll probably be 3 years 8 months for my license and 4 years of no claims in 2013.

foxyuk

Daughter passed test 3rd October 2012 so end of 10 months bonus accelerator will only held licence for 11 months

newfoundglory

I did consider short-term car insurance so that I could get quotes for 12 months policies with other insurers using 3 years licence held.

But for me, it was just too expensive using this idea.

But, if its less than 28 days you need to "fix" the difference then it might work for you.

adamc260

forgotmyname wrote: »

The 12month policy will give you more options when the renewal comes.

No good if they want more than other companies next year. But you cant go with the other companies because they dont accept 10 months as 1 years NCD.

They don't issue '10 months NCD' they issue '1 Years NCD'

Had it before and was accepted no problem by another Insurer.