10 month bonus accelators

TighterThanTwoCoatsOfPain

aside from if the renewal states 1 year / x% or 10 months...

flip the coin and ask IF you knew a driver had only been driving 10 months, why would you give them 1years NCD on a policy? Whats next, 6 months accelerator policies that get you 1years NCD??

The new insurer is NOT obliged to give you a full year NCD end of story.. some will (deliberately or otherwise), some wont.

JonBoy_SCFC

"IF you knew a driver had only been driving 10 months, why would you give them 1years NCD on a policy?"
answer=because 1 year is closer to 10 months than 0 years is


if you were an insurer and you had to set a price for these customers would you set it at the rate for NCB=0?

dacouch

Jon the brokerage do not have a say on accepting the no claims bonus, it is the Insurers they deal with he advise what No Claims Bonus is acceptable.

Most companies do not accept 10 months no claims bonus in the same way is some one is 24 years and 10 months old they don't rate them as being 25. They have their rules and they tend to stick to them

JonBoy_SCFC

sorry i should have said that "insurers who work via brokers" have lost a lot of business already. although that will have a bad affect on the brokers themselves too

the insurers know how long these people have been driving without a claim (they ask both questions), so why can't they charge a price that reflects this?

if they want to stick to their out-dated rules then they will shrink and shrink - on their head be it;)

dacouch

They must have made a business decision that they do not want to accept 10 months no claims bonus.

It is not 12 months NCD so they must have decided its not something they want to accept in the same way they do not rate a driver who is 24 years and 10 months old as a 25 year old.

They will not lose that much business over it and it is often the type of business that a lot of Insurers are not targeting anyway

toptip

Jon - as a broker we have to stick to the rules laid down by the insurers. If we accepted the NCD for 10 months as a full year and that person had an accident then as a broker we'd be liable for some, if not all of the claim cost.

Oh, and the question about whether a renewal notice would state 10 month policy is a fairly obvious one. We check policy start date and policy expiry date, and if there not 12 months apart.............

hellokitty08

I just had a 10 month bonus accelerator with Admiral. When the policy finished i got through a letter stating that I had one years no claim discount. When i phoned up direct line to start my new poilcy, they just said that as long as i sent them the letter stating it was a years NCB, that would be fine.

I can see how it would be complicated say if you passed your driving test and got a car straight away and then when after ten months you needed a new insurance policy and was saying you had one years NCB.

(However I have 4 years NCB and only had a car Licence for 1 1/2 years because the rest of my NCB is from bikes!)