Advice please

imapoorstudent

I am paying £130 per month for my car insurance with Tesco!!! I thought I could afford it but I'm not earning as much money this summer as I planned so I'm running into money issues.

So my options are:

- Sell my car and buy a cheaper one to insure, thus keeping the policy live and keeping my NCD

- Or jump ship and lose my NCD

I am 23 and have been driving for 16 months now. I was insured as a named driver and only took on my own insurance last October, hence I have no NCD.

Now one broker has offered £734 which is HALF of my Tesco premium. He advised that the NCD is valuable so I should stick it out until October but I cannot afford to do that.

Any advice please?

Do you think I could phone Tesco with a view of "leaving" and explain I've had a quote half of theirs, and maybe they might reduce it a bit?

movilogo

I think you can keep NCD for 2 years even if you sell the car.

raskazz

movilogo wrote: »

I think you can keep NCD for 2 years even if you sell the car.

This is correct but not really what the original poster was getting at - if the policy with Tesco is cancelled, then they will have to start earning the 1st year of NCD afresh; whereas if they let the policy run until October they will (touch wood) earn a year.

The best course of action IMO would be to look at several cars that are dirt-cheap to insure and get quotes from Tesco to cover them until October, then reassess the situation at renewal.