10 Month Car Insurance Policies

Many car insurance companies offer 10 month insurance policies with the incentive of a cheaper car insurance premium. The 10 month policy can have many different names such as bonus accelerator and rapid bonus. Whatever the name may be, they all do pretty much the same thing:

  1. They produce a cheaper quote as the policy is for 10 months instead of 12.
  2. You get 1 years no claims bonus (NCB) at the end of the 10 month policy.
  3. They are mainly aimed at young and new drivers hoping to build NCB.

The Disadvantages Of 10 Month Bonus Accelerator Insurance Policies

The only downside to 10 month insurance schemes is that they are not ideal for experienced drivers with full NCB. When costs are broken down it often costs more per month for a 10 month policy than it does for a full 12 months cover.

For example:
12 Month Policy = £700.00. Monthly cost = £58.33
10 Month Policy = £600.00. Monthly cost = £60.00

As you can see, although the 10 month policy has the more attractive premium, it actually works out cheaper per month to purchase the 12 month policy.

Please keep in mind that not all insurance companies will accept a 10 month proof of no claims as a 1 years NCB.

They can also cause issues when acquiring an online quote e.g. a driver with 1 years and 8 months driving experience may claim 2 years NCB, this would be rejected by some quote systems as the figures do not add up (they view it that the driver can not have 2 years NCB if they have been driving for less than that).