Q. I recently got my car insurance quote – € 767.20. After calling the company they reduced it down to € 680 but I decided to go online for another quote – € 490 with a 3 year no claims discount. I then went back to my insurer who I have been with since 1997, and they told me I have a lifetime no claims discount protection and that I would lose it if I moved to another insurer. Is it worth the extra money John to hold on to my life time protection or should I opt for the cheaper quote. PS your column is very good and informative. Jimmy – Co Longford
A. You are 27 years with the one company Jimmy and they are threatening you with losing the “lifetime” no claims discount. Normally it can take you from 4 to 6 years to reach the maximum discount of 60% with an insurance company. Even with that, it still does not preclude the insurer from hiking up your annual premium if you have an accident and incur losses. The comparative quote offers a 3 year no claims discount so effectively you only have 1 to 3 years to reach that 60% maximum again if you go with them. Importantly you are saving nearly 28% by opting for the online quotation. Apathy takes many forms and simply because you have been with one company for 27 years does not mean they deserve your loyalty and I do not think that the protection guarantee is actually worth it as even the terms and conditions can vary from company to company.. They should be putting the money where their mouth is…. Move your policy and keep shopping around not just for car insurance but for EVERYTHING. Thanks for the question Jimmy.