changing car and losing no claims year.

rose28454

I have an old escort ghia and pay about£400.00 per year. Going to change to a peugeot 206 today. About £120.00 owing on existing ins ( I pay £39.80 per month) so asked about a quote for new car and they said £25.00 admin fee and extra £3.00 to pay so will cost me £148.00 for next 3 months. To cancel policy £13.00 but I will lose 1 years no claim ( am on 7 ).
Did a cvomparison on Go cOMPARE and I can insure new car fully comp ( 3rd party at the mo) for just over £210.00 per year.
Question is does it matter losing one years no claim?

InsideInsurance

You wont lose anything, you simply wont gain another year.

Many insurers max out at 5 years NCD so anything more is pointless. Even those that max out at 9 years tend to only give about an additional 1% per year after 5 years.

Personally the £13 to cancel the policy sounds very wrong, esp as its a £25 fee to do a CoV so I would query that before doing anything.

forgotmyname

Depends how many years no claims you have. If its 5 or more then it may very little difference.

Do the comparison with 1 year more/less? and see the difference.

And yes fully comp can be cheaper than 3rd party. You may have been paying too much for less cover.