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Polarbear
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PostPosted: 11:55 - 29 Mar 2022    Post subject: More Insurance questions. Reply with quote

I have a spare full NCD for a car. It's coming up to 2 years since it was last on a car so I gather I am liable to lose it at that point.

Is there a cheap way of keeping it going. If it was a bike I'd buy the crappiest moped, insure it and srick it in the corner of the garden. Does anyone know of a practical way of doing it with cars. Bearing in mind wifie will go ballistic if there is a scrap mini in the front garden.

Or. as I suspect, is it not really worth the effort.
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Freddyfruitba...
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PostPosted: 12:01 - 29 Mar 2022    Post subject: Reply with quote

I think wifie's just gonna have to go ballistic, mate...

(I suppose the answer is - although it will really grate to lose the NCD, assuming you already have an an NCD on an active car policy, realistically are you actually going to ever have the need for a second one in the future?)
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ThunderGuts
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PostPosted: 12:33 - 29 Mar 2022    Post subject: Reply with quote

As above, you need to ask yourself if you're ever going to use it again. If not, there's clearly not much point maintaining it (remembering to treat it as a discount code, rather than something with monetary value). If you think you will, I'd plug a few insurance quotes with and without NCD to see the difference in real world quotes. Then try it with 1 year NCD. That one year makes quite a difference as you get the biggest discount (pro rata) with the first year.

If you do think it's worth maintaining that NCD, you could do one of two things I guess; either get a banger but will anyone want to take it off you when you get rid of it and for enough money to offset the purchase cost, or look at a classic vehicle (something ridiculous like a Bond Bug, or an MBG or some other classic that hasn't suffered silly inflation yet) which would be tax and MOT exempt, not likely to depreciate and might even gain a bit of value, especially if you treat it as a "long term project" and do some mild tinkering/restoration over time?

In reality though, even a classic that never moves is going to need some degree of TLC (and therefore expenditure) to retain value, a banger that you never intend to sell will just be dead money you buy it for. Then there's the insurance cost on top of it. Unless your premiums are already very high, I can't see you saving money unless you're only going to do it for a year or so max and have confidence you'll be able to sell whatever you buy for a similar amount.
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Diggs
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PostPosted: 13:20 - 29 Mar 2022    Post subject: Reply with quote

Get some quotes with and without the NCD. You may be pleasantly surprised to find that given your age, it makes very little difference and certainly not enough to justify insuring another car just to keep it going...
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MCN
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PostPosted: 14:04 - 29 Mar 2022    Post subject: Re: More Insurance questions. Reply with quote

Polarbear wrote:
I have a spare full NCD for a car. It's coming up to 2 years since it was last on a car so I gather I am liable to lose it at that point.

Is there a cheap way of keeping it going. If it was a bike I'd buy the crappiest moped, insure it and srick it in the corner of the garden. Does anyone know of a practical way of doing it with cars. Bearing in mind wifie will go ballistic if there is a scrap mini in the front garden.

Or. as I suspect, is it not really worth the effort.


You Sir, have too much cash lying around.
Why do you only have one boat?

Buy another boat FFS... Rolling Eyes
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Polarbear
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PostPosted: 15:05 - 29 Mar 2022    Post subject: Reply with quote

Diggs wrote:
Get some quotes with and without the NCD. You may be pleasantly surprised to find that given your age, it makes very little difference and certainly not enough to justify insuring another car just to keep it going...


Yes, I think I knew that already and everyone who posted has jut confirmed it. It just bugs the hell out of me that the cost and time to accrue that NCD is just wiped out at a stroke.
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ThunderGuts
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PostPosted: 15:11 - 29 Mar 2022    Post subject: Reply with quote

Polarbear wrote:

Yes, I think I knew that already and everyone who posted has jut confirmed it. It just bugs the hell out of me that the cost and time to accrue that NCD is just wiped out at a stroke.


Who'd have thought insurance companies would behave like back-stabbing, money-grabbing, sleaze-weasels?
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