# insurance woes, need your advice please!!!!



## Deniance (Jun 28, 2008)

im currently insured on my toyota celica vvti 140 hp with hastings, who are charging me 912 pounds a year, which i simply cannot afford anylonger

i did an online quote at go compare and octagon insurance popped up at 604 pounds,

i rang hastings and asked if there was anything they could do and they said no,

so what i was wondering is what i do now?, im with hastings until october, which will then give me 4 years no claims, and then online quotes say ill be paying 450 quid, 

should i cancel my insurance( 70 quid cancellation fee) lose my no claims back to 3 years and go with octagon or see out my term with hastings

im so confused, any thoughts please guys?


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## mcinto65 (Apr 20, 2012)

how much is an extra years no claims worth ? loking at the info you have put on here. you`d be better off sticking with hastings to get the extra years no claims to gain a better quote next year


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## Deniance (Jun 28, 2008)

if i stick it out and get my 4th years ncb it is showing on go compare 494 with octagon


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## mcinto65 (Apr 20, 2012)

the cancelation fee sounds excessive


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## Deniance (Jun 28, 2008)

thats what i thought, but what can you do? insurance companys are evil


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## mcinto65 (Apr 20, 2012)

i think stick it out imo


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## Deniance (Jun 28, 2008)

hmmmmm,,,,,,, god damn insurance companies!!!! to hell with you all!!!!!


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## Shiny (Apr 23, 2007)

Is the cancellation pro-rata plus a £70 fee, or do short period rates come into play which then have a £70 fee on top? This could have a huge impact.

Assuming pro-rata cancellation, quick rough sum based on having 6 months left on your current policy as to what it will cost you over the next 18 months - 

£900 /12 x 6mnths to run = £450 for the next 6 month + £450 (oct rate on 4yrs NCB) for next 12 months = Total £900

or if you go elsewhere now - 
£600 new policy for 12 months + £450 /12 x 6 = £225 (to bring the total to 18 months) + £70 cancellation fee = £895

I'd see out your policy with Hastings for the sake of a fiver saved over the next 18 months.


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## The Cueball (Feb 8, 2007)

Stay where you are until the policy is up, then shop around and move!

:thumb:


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## Derekh929 (Aug 28, 2011)

Short term gain never the way to look at it good advice been given above stick it out get the 4 years NCD


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## OvlovMike (Jul 19, 2011)

I'm going to throw a spanner in the works and say that you're not guaranteed your extra years NCB - you may have an accident.

Just another variable to throw in the pot!

Personally I'd stick it out unless cashflow really is a problem right now. Is it really that you can't afford (why the change?) or that you no longer feel that it's justified (tough, really!)?


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## Shiny (Apr 23, 2007)

OvlovMike said:


> I'm going to throw a spanner in the works and say that you're not guaranteed your extra years NCB - you may have an accident.
> 
> Just another variable to throw in the pot!


To a certain degree, this is even more reason to stay where he is though. Some insurers will protect NCB at 4 yrs, so he has that option come October provided he stays claim free until then.

If swaps now, it will be another 12 months he has to remain on 3 years NCB, rather than until October.


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## OvlovMike (Jul 19, 2011)

Shiny said:


> To a certain degree, this is even more reason to stay where he is though. Some insurers will protect NCB at 4 yrs, so he has that option come October provided he stays claim free until then.
> 
> If swaps now, it will be another 12 months he has to remain on 3 years NCB, rather than until October.


Yup, just highlighting that there are all sorts of angles to approach this, and at the end of the day if you're that short of money that the difference (I should imagine a few notes?!) will be the difference between eating and not eating then you should swap, otherwise I'd just ride it out and be done with it. And shop around more next time.


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