Car insurance cheaper with 9 points than zero no-claims bonus

Car insurance premiums

New research suggests having nine points on your licence can result in cheaper car insurance premiums than starting from scratch with your no-claims bonus.

Quote results comparing the variables demonstrated that on average, having nine points instead of zero no-claims bonus resulted in quotes that were 10 percent cheaper.

Both men and women also got cheaper quotes with six points than they did with three years no-claims bonus or fewer.

“The research is eye-opening, dispelling common myths including that penalty points could spell disaster when it comes to insurance costs,” said Rob Walker, managing director of Vantage Leasing.

Car insurance premiums

There is a proviso, though. Younger drivers will find their quotes are more adversely affected by having points than older drivers. That being said, it’s rare that someone under the age of 21 will have more than three years no-claims bonus. Either way, car insurance isn’t a young person’s game…

Garage parking costs more than the road

Another interesting out-take was that parking your car on the road is often cheaper than parking in a locked garage.

The research showed road parking was cheapest on average, with quotes coming out 10 percent cheaper than for a garage. As ever with car insurance, though, it’s down to the individual scenario. There’s nothing for it but to bite the bullet and compare prices for yourself.

Car insurance premiums

“While the research shows what a typical male or female driver can expect, it doesn’t cover every eventuality, and some may find their circumstances produce different results,” explained Walker.

“It does, however, provide some intriguing insights into the ever-evolving nature of vehicle insurance.”

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