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No claims bonus

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  • 17-02-2016 8:05pm
    #1
    mmooney1983
    Closed Accounts Posts: 73 ✭✭


    Hi there
    I recently started a 4 year job post right beside my home, and I have no use for the car so I sold it and don't plan to drive for the 4 years. I would anticipate having to resume driving thereafter. I have driven for 10 years and become quite disillusioned with keeping on the car as the insurance rises yearly despite 10 years of not so much as a penalty point.
    Will I revert to the same insurance premia as new drivers in 4 years' time if I don't drive in the meantime; i.e. lose my no claims bonus entirely?


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    #2
    Liberty Insurance: Una
    Company Representative Posts: 163 Verified rep ✭Liberty Insurance: Una


    mmooney1983 wrote: »
    Hi there
    I recently started a 4 year job post right beside my home, and I have no use for the car so I sold it and don't plan to drive for the 4 years. I would anticipate having to resume driving thereafter. I have driven for 10 years and become quite disillusioned with keeping on the car as the insurance rises yearly despite 10 years of not so much as a penalty point.
    Will I revert to the same insurance premia as new drivers in 4 years' time if I don't drive in the meantime; i.e. lose my no claims bonus entirely?
    Hi mmooney1983,
    Thanks for your query, currently the business rules are if a No Claims Bonus has not been used on a policy within the last 2 years then it expires. We understand your frustration with the overall increases in insurance premium lately, however we hope when you return to driving you come back to us for a quotation and hopefully we can provide you with a competitive one. All the best with your new job.
    Una


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    #3
    Atlantic Dawn
    Registered Users Posts: 81,708 ✭✭✭✭Atlantic Dawn
    M


    My advice would be to not insure the car for a year, take out the lowest most basic insurance on it for a year, don't renew the following year and then take out the lowest most basic insurance on it for a year. If you don't do this than you will lose the no claims bonus and will cost substantially more than if you didn't do this. Have a look around the media for examples, get quotes now online with zero no claims bonus to compare.


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    #4
    mmooney1983
    Closed Accounts Posts: 73 ✭✭mmooney1983


    Atlantic Dawn wrote: »
    My advice would be to not insure the car for a year, take out the lowest most basic insurance on it for a year, don't renew the following year and then take out the lowest most basic insurance on it for a year. If you don't do this than you will lose the no claims bonus and will cost substantially more than if you didn't do this. Have a look around the media for examples, get quotes now online with zero no claims bonus to compare.
    That seems smart but I sold my car; didn't want to pay tax/NCT/parking permit etc...


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