Should I buy a car just to protect no claims bonus?

NeonWolf · 03-09-2019 6:10pm #1

I started a job in late 2015 which involved extensive travel abroad, so in 2016 I got rid of my car.

I am still in this employment and use rental cars when in ireland or the company car. I am driving in Ireland every second week, just not on a policy of my own.

In october I hit 3 years with no insurance and my broker has told me the few remaining insurers who will insure you after two years of inactivity no longer will.

Is it worth buying a banger to insure and keep my no claims (over ten years) or are the savings I'm making by being car free offsetting it long term?

Anyone have any experience of this scenario?

Del2005 · 03-09-2019 6:43pm

Most minimum insurance policies are about €400 now. So if you buy a banger and keep it insured for a few years you'll have spent several thousand Euro to save some unknown amount in the future. If you are planning on insuring a car in Ireland in the next few years then yes buy a banger, if you aren't going to be insuring for a few years or aren't sure then don't.

mickdw · 03-09-2019 6:49pm

I would say buy some old banger for sure.
Insurers here are piss takers so the price of a policy without having no claims bonus could go absolutely nuts in a few years if the insurers are not reigned in.

Turbohymac · 03-09-2019 6:59pm

Like del2005. I wouldn't dream of trying to keep my insurance alive here in Ireland if I didn't need a car regularly..I had a council vehicle in the last job and never held my own private policy..luckily my wife had me as a named driver on her policy and when I needed to get my own insurance a few years ago.the insurer accepted copies of my wife's policy which had me as a named driver for 5 years and with no claims..
Maybe this is something you could look into if you had a close family member that would be willing to put you as a named driver on their policy..
But buying a banger..running costs..tax..insurance..nct..repairs.. I could keep adding.....

sunnysoutheast · 03-09-2019 7:02pm

I did this years ago when I was at college/ didn't need a car using my parent's address.

Insured a scrap mini third party only.

I'd maybe check what sort of quotes you'd get on a sample banger first these days, given that it's not exactly unknown for people to insure old cars and then have an "accident". Third party can be more expensive than comp. too.

sunnysoutheast · 03-09-2019 7:02pm

I did this years ago when I was at college/ didn't need a car using my parent's address.

Insured a scrap mini third party only.

I'd maybe check what sort of quotes you'd get on a sample banger first these days, given that it's not exactly unknown for people to insure old cars and then have an "accident". Third party can be more expensive than comp. too.

Also, you may be able to "reset the clock" if you insure it for a year at a time instead of every year.

NeonWolf · 03-09-2019 7:42pm

Yeah I’m 35. Job looks like it will continue on as is for the foreseeable future.
Been driving fully comp since I was 20.

Seems like a shame to let it go . But maybe it’s a mental thing

giggs76 · 04-09-2019 9:57pm

NeonWolf wrote: »

I started a job in late 2015 which involved extensive travel abroad, so in 2016 I got rid of my car.

I am still in this employment and use rental cars when in ireland or the company car. I am driving in Ireland every second week, just not on a policy of my own.

In october I hit 3 years with no insurance and my broker has told me the few remaining insurers who will insure you after two years of inactivity no longer will.

Is it worth buying a banger to insure and keep my no claims (over ten years) or are the savings I'm making by being car free offsetting it long term?

Anyone have any experience of this scenario?

buy a banger insure it and after a few weeks suspend the insurance, at the end of policy they will give you a no claims bonus and refund of money from your suspension, then you will have a no claims bonus with 2 years, then after 2 years do the same.

Easy

Gooser14 · 05-09-2019 8:00pm

NeonWolf wrote:

I started a job in late 2015 which involved extensive travel abroad, so in 2016 I got rid of my car.

I believe NCB is only good for two years & since you are nearly three years without insurance you have probably lost your NCB already.

NeonWolf · 10-09-2019 6:12pm

Gooser14 wrote: »

I believe NCB is only good for two years & since you are nearly three years without insurance you have probably lost your NCB already.

3 companies will stretch to 3 years.

NeonWolf · 10-09-2019 6:14pm

Was quoted 1600 on a 2019 1.4 litre golf .
Age 34
Parked in Meath

Just did a mock quote to test the water

Gooser14 · 10-09-2019 11:42pm

NeonWolf wrote:

3 companies will stretch to 3 years.

Out of interest, which companies stretch it to 3 years?

embers_fire · 10-09-2019 11:47pm

NeonWolf wrote: »

Was quoted 1600 on a 2019 1.4 litre golf .
Age 34
Parked in Meath

1600 for a 34 Yr old with 10+ years of driving experience? Insurance really is a ****ing joke.

NeonWolf · 11-09-2019 9:23am

Gooser14 wrote: »

Out of interest, which companies stretch it to 3 years?

kenco is one. not sure of the others. just quoting what was said to me by chill.

NeonWolf · 11-09-2019 9:24am

embers_fire wrote: »

1600 for a 34 Yr old with 10+ years of driving experience? Insurance really is a ****ing joke.

and im still driving every week. they are just company cars and hire cars......

NeonWolf · 11-09-2019 9:26am

embers_fire wrote: »

1600 for a 34 Yr old with 10+ years of driving experience? Insurance really is a ****ing joke.

my first ever policy was 2300 in 2006 as a 22 year old. its almost as bad

Del2005 · 15-09-2019 12:33pm

NeonWolf wrote: »

Was quoted 1600 on a 2019 1.4 litre golf .
Age 34
Parked in Meath

Just did a mock quote to test the water

Was that a 3rd party or fully comp quote? Try fully comp

embers_fire wrote: »

1600 for a 34 Yr old with 10+ years of driving experience? Insurance really is a ****ing joke.

My 70 year old mother got quoted €1,500 3rd party with 20+ years NCD, fully comp was only a few hundred. It looks like people who buy cheap old bangers and insure them 3rd party are very bad drivers as they claim more.

NeonWolf · 23-09-2019 12:53pm

Del2005 wrote: »

Was that a 3rd party or fully comp quote? Try fully comp

My 70 year old mother got quoted €1,500 3rd party with 20+ years NCD, fully comp was only a few hundred. It looks like people who buy cheap old bangers and insure them 3rd party are very bad drivers as they claim more.

That was fully comp

seagull · 25-09-2019 1:15pm

NeonWolf wrote: »

and im still driving every week. they are just company cars and hire cars......

It might be worth asking about how the company insurance is set up, and whether you're a named driver on it.

Andrewf20 · 25-09-2019 1:21pm

I know of a professional couple who returned to Ireland after being in the USA for a number of years. They bought a new 2017 Nissan x trail and their insurance was 4 grand here even though they were driving in the US.

NeonWolf · 02-10-2019 10:04am

3 days left to make the decision. still undecided

marcos_94 · 02-10-2019 10:09am

NeonWolf wrote: »

3 days left to make the decision. still undecided

Try get onto your parents/other families insurance policy as a named driver

NeonWolf · 02-10-2019 10:15am

marcos_94 wrote: »

Try get onto your parents/other families insurance policy as a named driver

you don't accrue or protect NCB as a named driver

marcos_94 · 02-10-2019 10:18am

NeonWolf wrote: »

you don't accrue or protect NCB as a named driver

Oh I thought it counted as they consider your NCB when quoting for a named driver

NeonWolf · 02-10-2019 10:58am

marcos_94 wrote: »

Oh I thought it counted as they consider your NCB when quoting for a named driver

they would consider it in quote but id still lose my NCB which is what I'm trying to avoid. I actually have no need for a car in ireland as it stands but am reticent to lose 12 years of a clean driving record.

marcos_94 · 02-10-2019 11:01am

NeonWolf wrote: »

they would consider it in quote but id still lose my NCB which is what I'm trying to avoid. I actually have no need for a car in ireland as it stands but am reticent to lose 12 years of a clean driving record.

In that case go for a tried and tested starter car - either a 2008 ford fiesta or 2008 opel corsa. Means youll have one of the cheapest cars to insure with cheap tax and quite easy to sell on once you dont need/want it

02-10-2019 11:03am

You don't need to actually own a car to insure it

loyatemu · 02-10-2019 11:12am

NeonWolf wrote: »

they would consider it in quote but id still lose my NCB which is what I'm trying to avoid. I actually have no need for a car in ireland as it stands but am reticent to lose 12 years of a clean driving record.

most insurance companies will take named-driver experience into account, and it will probably cost next to nothing to add you to their policy.

Apart from that I don't think it's worth buying a car and insuring it just for the NCD.

If you can get a new policy with no NCD for €1600, it would only be worth keeping your insurance alive if you think you'll be back driving here within 3 years (assuming you can get insurance now for ~€400) but that's not even counting the cost of buying an old car and keeping it somewhere (& it'll need to be taxed if it's on a public road). And as mentioned above, some companies will keep your NCD alive for 3 years anyway.

A better option might be to just throw 400 a year into savings and use it if you ever need to take out insurance here again.

loyatemu · 02-10-2019 11:13am

BrownFinger wrote: »

You don't need to actually own a car to insure it

every insurance quote I've got in the last few years has stated that the car has to be owned by you or your spouse.

02-10-2019 11:47am

loyatemu wrote: »

every insurance quote I've got in the last few years has stated that the car has to be owned by you or your spouse.

Loads of people aren't married and insure themselves on their partners car.

loyatemu · 02-10-2019 12:23pm

BrownFinger wrote: »

Loads of people aren't married and insure themselves on their partners car.

AFAIK the insurance companies will recognise the idea of a "common-law" spouse; i.e. co-habiting.

If there are companies that will let you take out insurance on a car that belongs to some randomer who lives at a different address to you, fine. In my experience, they won't - the minimum policy you can generally get is 3rd Party F&T. You would have no insurable interest for the F&T portion of the policy:

123.ie:

Allianz:

Should I buy a car just to protect no claims bonus?

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