Viewing 20 posts - 1 through 20 (of 20 total)
  • car insurance protected no claims
  • teenrat
    Full Member

    What are peoples views on this. Up to the start of this year i had 13 years no claims bonus which are protected. however i had a accident in which the car was written off, which was not my fault due to the wheel coming off after having work done. However, this is an aside as my insurance company were not interested in pursuing this. My insurance is up for renewal soon and i am confused as to how the no protected no claims works. If i change to a new insurance provider, do i have any no claims as i will have to declare i had an accident? I am not a high risk driver as it can be proven that i had 13 years no claims but how does it all work?

    z1ppy
    Full Member

    Yes you will have to declare the accident but are still able to get the NCB discount, dunno about the high risk business though.

    I was a little bemused to find my supposed ‘free’ windscreen cover, which I used for the first time in 22 years of driving last year, still has to be declared & counts against you…

    It’s insurance, it’s all a con, but a con you can’t live without… they best kind eh?

    GJP
    Free Member

    You will retain your no claims protection and your NCD, but your current insurer will probably load a premium on your renewal policy, or at least mine did when I had an expensive at fault accident.

    Look around a new insurer has no interest in how much your last insurer forked out for you last year, or at least Aviva didn’t with me when I moved from Zurich.

    My premiums where set to rise from about £600 to over £1000 with Zurich. Aviva offered me less than £500 and even that went down further the next year.

    Can you really have 13 years no claims? I thought insurers just stopped counting after 5 or 6 years. I have never had a renewal notice that suggested I had 10 or so years no claims?

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    HoratioHufnagel
    Free Member

    i don’t know how it works either. Can you insure the NCB insurance with NCB insurance insurance in case your insurance goes up even with the NCB insurance?

    legend
    Free Member

    Can you really have 13 years no claims?

    Not really, just marketing bollocks. If you have 5 years or more, you’ll always fall back to three if you lose any NCB, so it makes bugger all difference

    Legend – ’10 years’ NCB 😉

    GJP
    Free Member

    Is it not pretty obvious.

    1/ Insurer calculates your base premium based on your perceived future risk taking into account accident history (years of no claims entitlement isn’t relevant here as it is all encompassed by your accident history – you may not have one good for you)
    2/ Insurer applies your NCD entitlement. No claims bonus protection is the premium you have paid as part of your insurance premium to insure your NCD. So if you are entitled to 60% and have an at fault accident then it will remain at 60% rather than falling back down to 40%

    So protecting your NCD only ensures you do not fall from 60% to 40% or whatever it has no bearing on the calculation of your base premium. At least you do not have a double whammy of a premium increase based on risk and then a lesser reduction owing to a decrease in your NCD in the year following an accident.

    Simples …

    PS I do not work in insurance so it could be bollocks 😆

    coffeeking
    Free Member

    The biggest issue to me is that they are inconsistent with their NCB, and that it means nothing effectively.

    If you have 5 years or more, you’ll always fall back to three if you lose any NCB, so it makes bugger all difference

    Mine recognises either 7 or 9 I can’t remember which. I “have” 14+ and I always make sure the company I leave notes the original amount and the plus one as I’ve almost “lost” NCB by going from a 5 year recognition to a 7 year one.

    So the current insurance company won’t knock your NCB down if you have an accident (providing you don’t have 2 in 3 years) but they can still apply a penalty for having had an accident, so your base price rises.

    It’s all about calculating risk in the end, and everyone has different ways of calculating it. What I disagree with is charging for and claiming some sort of protection of a discount, yet not actually protecting the person from increased premiums.

    Considering Nike have just been told off for using sports people to advertise without saying it’s an advert directly (despite being a blatent link) I find it staggering that insurance companies can claim to protect someting yet charge you more through the back door still.

    GJP
    Free Member

    coffeeking I have absolutely no vested interest in the insurance industry but it seems clear what benefits you derive from paying the additional premium to protect your NCD entitlement.

    There are certainly issues around the transparency of the base premium price either before or after an accident. Does anyone really know whether they are getting a 60, 65 or 70% discount, and indeed does anyone really care as the only figure that matters is the net result.

    I have seen some companies advertise up to 65% discount or whatever, but so what if their premiums are 5% higher in the first place.

    Smoke and mirrors … perhaps i have talked myself around to your position 😯

    legend
    Free Member

    Mine recognises either 7 or 9 I can’t remember which

    but does that get you a bigger discount/cheaper policy, or is it all a bit ‘spinal tap’?

    nealglover
    Free Member

    but does that get you a bigger discount/cheaper policy, or is it all a bit ‘spinal tap’?

    Try putting “0 years” in the No Claims Bonus box and find out ?

    legend
    Free Member

    funnily enough I was meaning does the 7 year discount actually give a bigger discount than other companies 5 year discounts 🙄

    nealglover
    Free Member

    What’s the “rolleyes” for ?

    Do a comparison, that’s all I’m saying.

    It’s no secret, there are even websites that will do it for you.

    coffeeking
    Free Member

    but does that get you a bigger discount/cheaper policy, or is it all a bit ‘spinal tap’?

    That’s not really important and of course it’s all down to final price not apparent deals but there’s a couple of scenarios that are not pleasan:

    Year 1 – 14 years NCB, company A only recognises 5.
    Year 2 – 5 years NCB, new company B applies same discount at 7 years as first did at 5, only now you only have 5. Now you have an accident.
    Year 3 – Renewal offers you 3 years NCB, insurance company C see you as a major liability as you only have 3/7 years AND an accident.

    Since they all change their pricing year by year it’s hard to compare, but at the end of it your first accident after 16 years leaves you with 3 years NCB in a world where 7 is the norm for good drivers.

    Always compare and always keep the ncb and protection in mind, and check their policies as the protection differs from company to company.

    And a word of warning, they sell all of your info every time you do the comparisons. I now get innundated with “you had an accident” calls when I just put it in to see what would happen.

    teenrat
    Full Member

    The posts here just show what a murky world it all is. So i pay extra for protected NCB but at the end of the day, it makes little or no difference.

    My 13 years no claims is essentially my accident history, although my insurance company only recognises 9. I would hope that although i claimed, the fact that this is my first ever accident would mean i would be low risk. Thats hoping though and not probably what will happen.

    bland
    Full Member

    Just remember to treat insurance companies like Mushrooms, keep them in the dark and feed them shit!

    They say you have to tell them about windscreens being replaced, it doesnt mean you have to be daft enough to do it.

    They dont share info as its commercially sensitive, however a lot are in teh same groug, e.g. admiral, elephant, sheilas wheels i think for example and the underwriters may be able to share info, otherwise its testicles.

    Comparison sites aint cheap, try smaller brokers and specialist insurers. I have a friend who pays a fraction of what i do for a BMW 330M sport against my diesel accord as he can justify him being in an owners club and it being a performance car so specialist will insure it

    Regarding the protected NCD, its a difficult one as it will make a difference if you stay with teh same insurer, but if you are buying through a comparison site it wont pay to stay with the same company, if you use a specialist it may.

    Oh and remember, you can phone your insurance company and give them someones details who you claim have hit you and you will more than likely get a pay out even if you just got the reg number and model etc as you passed in the street – Yes i have one on the go against me!

    coffeeking
    Free Member

    They dont share info as its commercially sensitive, however a lot are in teh same groug, e.g. admiral, elephant, sheilas wheels i think for example and the underwriters may be able to share info, otherwise its testicles.

    They do share information, the only company that knew about my first claim was my insurance company that I kept using for a few years as they kept offering the best option. Out of the blue I get a call from a claims company asking about it with details only the insurance company could know. Some 8 years later after a test compare on a few sites, unfortunately pretty widespread, I got calls left right and centre from claims companies. After discussing with one of them for a while she said the bulk of their info comes from the meerkats but also direct from other companies, hence I must have put it into a recent quote. I could understand if it were not coincidentally at exactly the same I ran a few test quotes after a massive break.

    Oh and remember, you can phone your insurance company and give them someones details who you claim have hit you and you will more than likely get a pay out even if you just got the reg number and model etc as you passed in the street – Yes i have one on the go against me!

    Which is a bit of a joke and you’d have no choice but to go with what the company decides to do rather than ask for proof. Barking.

    FuzzyWuzzy
    Full Member

    There’s a lot of web analysis done on insurance and comparison web-sites, when you’re filling them in and trying different options they’re logging and analysing that. It’s quite interesting the number of people that start with the honest answers and then gradually change stuff hoping to bring the premium down, the problem comes if they actually purchase a premium with some of the changed options, given the history is logged it’s theoretically possible to link it to the premium and use it as evidence if a claim is made. That said I don’t know if anyone’s taken it that far, 99% of the time they’re just analysing what stage people bail out of filling in forms so they can try and make it easier to get a higher completion rate.

    Pieface
    Full Member

    FWIW we had 8 yeras or so NCD. We then made 2 claims last year. When we re-insured last year our NCD was still honoured but the cost to then protect the NCD was more than the NCD was worth.

    Its basically insurance on your NCD

    coffeeking
    Free Member

    That said I don’t know if anyone’s taken it that far, 99% of the time they’re just analysing what stage people bail out of filling in forms so they can try and make it easier to get a higher completion rate.

    They’ll struggle with me, I put in all sorts of random stuff to see how it affects the premiums. I also test every possible job description as I’ve seen up to £50 difference across policies with job titles that could all equally be applicable.

    aracer
    Free Member

    given the history is logged it’s theoretically possible to link it to the premium and use it as evidence if a claim is made

    As coffeeking says, such information is basically useless as evidence, as how do they prove which set of details was true and which set playing around to see what difference it makes?

Viewing 20 posts - 1 through 20 (of 20 total)

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