Motor Insurance Discount

Jaffusmaximus

Hi all,

My motor insurance is due soon and I have never rang up FBD to see if I can get a discount due to personal circumstances. Has anyone had success with their insurance company's in a similar situation?

Anan1

I can't for the life of me see why they would. If anything, i'd imagine someone in dire financial straits would represent a higher risk.

Alanstrainor

Best way to get a discount is to shop around;)

Get the phonebook out and ring around to every broker and insurance company you can find. I would imagine you'll save quite a bit of cash doing this.

There is no loyalty to these companies for me, whoever offers me the cover I want for the cheapest wins!:D

ThisRegard

I have never not go a discount on a renewal. I presume you mean mid term ? All you can do is ask but you're not in as good a position as you would be at renewal. If there's no go you can check what your options are regarding cancelling and moving to a different insurer, but there's probably a financial penalty in doing so and you won't be credited those few months before you cancelled towards an additional years NCB.

Jaffusmaximus

Anan1 wrote: »

I can't for the life of me see why they would. If anything, i'd imagine someone in dire financial straits would represent a higher risk.

I can't see how someone with money issues would be a less safe driver then someone more well off. I'd imagine the opposite say some rich fella buys an overpowered car and does not have the skills to control it!

Jaffusmaximus

I planned to ask at renewal, I've been with them for 6 years and only one claim when I was rear ended by a drunk FN back in 2008 whom had no insurance.

ThisRegard

Jaffusmaximus wrote: »

I can't see how someone with money issues would be a less safe driver then someone more well off. I'd imagine the opposite say some rich fella buys an overpowered car and does not have the skills to control it!

They look at it from a claims and underwriting side, if you're short of cash you could be seen as someone more likely to make a claim for something small as opposed to the rich fella who will pay for the ding out of their own pocket in order to preserve their NCB so they can continue to insure their overpowered car.

Henry Ford III

The only effective way to get a discount at renewal is to shop around and introduce some competition.

Jaffusmaximus

ThisRegard wrote: »

They look at it from a claims and underwriting side, if you're short of cash you could be seen as someone more likely to make a claim for something small as opposed to the rich fella who will pay for the ding out of their own pocket in order to preserve their NCB so they can continue to insure their overpowered car.

I didn't really look at that way, I forgot that from my time working in a bank that what seems unfair does not count in the business world.

bazz26

Jaffusmaximus wrote: »

I didn't really look at that way, I forgot that from my time working in a bank that what seems unfair does not count in the business world.

That maybe so but unfortunately insurance companies do.