Newly qualified young driver - building up no claims bonus

keith1950

I honestly think some people on here can't read English.
What I am saying is the the driver would have to take at least one year's insureance with the same company (Admiral) and then swop insurers at renewal.
Obviously we know you can't expect to use an internal discount without being the main driver first.
If you read my post again I'm basically saying the same as you?
My daughter got four years internal with Admiral then a year as main driver with Admiral then at renewal got written proof of five years!!

AstroTurtle

keith1950 wrote: »

I honestly think some people on here can't read English.
What I am saying is the the driver would have to take at least one year's insureance with the same company (Admiral) and then swop insurers at renewal.
Obviously we know you can't expect to use an internal discount without being the main driver first.
If you read my post again I'm basically saying the same as you?
My daughter got four years internal with Admiral then a year as main driver with Admiral then at renewal got written proof of five years!!

Yes but all that does is bind you to an Insurer for a number of years who may not be the cheapest.

It could be more cost effective to bite the bullet year 1 to accrue your own bonus immedietialy to be able to have full market scope in year 2 vs your option where you have to use Admiral for that 1 year where they know you have nowhere else to take the bonus.

Options is the key here.

Yours is one option, Ours is another.

No need for the plain english insults.

System

AstroTurtle wrote: »

Yes but all that does is bind you to an Insurer for a number of years who may not be the cheapest.

.

You don't have to accept the named driver discount if you don't want it. Go to one of these other cheaper insurers.

AstroTurtle

Clifford_Pope wrote: »

You don't have to accept the named driver discount if you don't want it. Go to one of these other cheaper insurers.

I mean cheaper long term.

For example you may accrue a named driver NCD but pay £600 a year for 2 years till you get your own car so you've invested £1,200 into that NCD with hopes that in year 3 you have your own policy that may cost £800 but at the end of that you have 3 years NCD you can take to another insurer. So you've invested £2,000 into the notion.

vs

You just be a normal named driver with any other insurer and pay maybe £200 for 2 years till you get your own car and you've lost £200 as you cant take the NCD with you. But in year 3 you could spend £1200 on a policy that is your first year NCD and at the end of that you'd have 1 year NCB.

If your only gaining 15% max discount for those 3 years then you have to ensure that the named driver premiums don't cost more than what you'll gain back 3 years later. Your point of "just go for the cheaper insurer then" is true but your not factoring in what you've paid in the lead up to that with the hope of obtaining a larger bonus to use elsewhere.

How much discount do I get each year?
Years of NCB
Average discount in 2016

• One
  7%
  
• Two
  17%
  
• Three
  22%

*Admiral NCB discount

AstroTurtle

keith1950 wrote: »

Astroturtle , that is obvious but that wasn't the original issue that was raised by poppyoscar....you do seem to be an argumentative know all ! ��

Again no need for the personal insults.

Named driver discount qualifying criteria (NCD)
This benefit cannot be transferred to other companies. Renewal documentation will only show the amount of NCD the named driver has earned on their own policy.

This offer cannot be used in conjunction with the existing ‘introductory NCD scheme’. Policyholders can claim an amount of NCD from one or the other, whichever gets the most discount, but a combination of the schemes is not to be used in calculating the amounts.

Thats what Poppy was correcting you on as she pointed out. Co-Op doesn't let you take your named bonus and accrue it with your own introductory NCD.


They also have to be over 19

named drivers start to earn their own NCD from age 19, so the first time they will be eligible for named driver NCD is from the age of 20, provided they have been claim-free on your policy and any other policy for the past 12 months.