Car Break down cover

Is there any plans for monzo to offer this? & if not do you have it and who would you recommend?

I’ve got an account with nationwide, it gives me phone insurance, worldwide travel insurance and car breakdown cover, all that for £13 per month…


I’ve only ever had to make 1 mobile phone claim in the past couple of years and it was flawless, I had a new phone within a week, I’ve never had to claim on the travel or breakdown insurance, so I can’t really comment on how good they are but I’m sure they be 100% great.

Open Nationwide FlexPlus account. Monzo will never offer you something better

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I must agree… I’ve had Nationwide FlexPlus for four years now, and they’ve been great. I cancelled my AA breakdown cover, as the two times I’ve had to use Nationwide’s service (from Britannia Rescue) it’s done the job… perhaps not quite as comprehensive, shiny and impressive as AA, but it paid for itself. That and the admittedly minimal interest on the current account just about pays the annual fee.

Their web and mobile apps are fine; integrates with iOS, Touch-ID, Apple Pay and all that, and their rates are reasonable. They’re also reasonably ethical as an institution and as investors. After almost three thankless decades with Barclays, I’m pleased with Nationwide.

I use Monzo for safe online purchasing – the ability to sandbox my funds in case the details get nicked, so I don’t risk my proper bank balance.

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Agree with all above. Nationwide Flexplus account all the way for insurance. Plus, if you know someone who doesn’t have a Nationwide account and as long as you actually have a Nationwide account yourself, you can refer them. If the person you refer then makes the effort to actually open an account or switch and they pass the credit check etc, I believe you both get £100, a win win. As a legacy type bank account, it’s one that I’m not giving up in a hurry.

Also just to add. If you keep around £2000-£2500 in the account they give you 3% in credit interest so it takes they £13 down to roughly £6/7 I’ve noticed.

Makes the value even better!


Again, agree, but you have to be of the mindset that the current account interest earned, if you’re not bothered about putting it to one side as savings or just using it as extra funds in the account for normal everyday spending, then yes, think of it as a discount on the paid package. This is exactly my mindset, so the £6.80 odd a month I get in interest, I just view as a discount.

Before Nationwide increased the monthly fee, with the interest earned on my current account balance, I effectively felt like I was paying knack all for the whole shebang. I can of course see why they increased the monthly fee and personally I still think it’s great value.

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Whatever breakdown cover you get, read small print.
I was a breakdown recovery driver and responded to many drivers that had cover via bank accounts,and were disappointed to find they were only covered for 10 miles,and if they wanted to go further £xx had to be paid per mile.

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Almost all insurance is a rip off - self insure where you can.

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Irrespective of what people might think, but that’s a huge sweeping statement. I’m not connected with the insurance industry at all, but it might be useful for those that don’t understand what you mean by ‘self insure’, to explain exactly what you do mean.


By “self insure” I mean keep money aside for emergencies instead of giving it to insurance companies. Pots seems an ideal medium.

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Self insure do you mean by putting a set amount aside each month into an emergency pot?

I’d like to give an example using the local council. They used to insure several thousand council houses and had on average 2 claims annually for severe damage. The CFO worked out that they could rebuild 5 houses for the cost of their premium, so they dropped the policy and self insure.

I’m still waiting for the savings to show up on my council tax.

I don’t believe anyone actually likes forking out for any insurance, but comparing breakdown companies and securing the right deal, can be a lot cheaper than relying on self discipline and potentially not putting enough aside in case something unforseen happens. For my own peace of mind, I have the Nationwide insurance package which for £13 a month minus my accrued monthly interest, is great value at around 7 quid a month.

As long as you have piece of mind and are happy with the price then I agree it’s a good deal - for you. However, the big issue with insurance is you don’t know how good it is until you make a claim, very many are disappointed - none of us read all the small print (it’s small for a reason). Insurance sales people - like double glazing and second hand car dealers have honed their reputation over years. Buyer beware.

I fully appreciate that you appear to be no lover of insurance, but please don’t assume that none of us read the small print. I’m one of those incredibly boring miscreants in life who actually does bother to read the small print on everything from energy swaps to my mortgage conditions and trust me, most of it is boring as hell! I’ve read the Nationwide PDF Ts&Cs and I’m happy it meets my needs.

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