WARNING Car Insurance No Claims Discount - Theft?

mikey72

Quentin wrote: »

Whoever you have spoken to has mislead you. The two years they say they will knock off is correct, but they neglected to point out to you that it would be knocked off 5 as the maximum level. (Check their policies if you feel you cannot accept this advice)

The max "high" for the sliding scale (downwards) after claiming is 5 years.

Some companies give small additional discounts for having more than 5 years, but that is when you buy the policy. If you subsequently make one claim, then at renewal you will have 3 years.

Not true, Esure give up to 9 years,

I started at 7 years (max from last insurers NCD) which is 70%
(which is the same as their 5 years to start as you only earn 5+ with them, so lost a bit there)
But it does show 7 years on my schedule, just with the 5 year percentage discount by it.

If you make a claim
70% goes to 55% 3 years
above this, esure do have a bonus NCD if you stay with them for further years, and if you make a claim
6 goes to 4 71% to 65%
7 goes to 4 72% to 65%
8 goes to 5 73% to 70%
9 goes to 6 74% to 71%
but as to how they phrase that on proof of NCD, who knows?

Jane2005

Not a scam at all, industry standard is only 5 years, so if you make a claim and you have not protected your NCD, they will knock it down to 5 years and then remove another 2 years for a fault claim resulting in just 3 years NCD. Always worth protecting your NCD, dosen't prevent the premium from increasing but it WILL increase even more if you don't protect it. Once again another case of someone going for 'cheaper' insurance.........you get what you pay for.

mikey72

Jane2005 wrote: »

Not a scam at all, industry standard is only 5 years, so if you make a claim and you have not protected your NCD, they will knock it down to 5 years and then remove another 2 years for a fault claim resulting in just 3 years NCD. Always worth protecting your NCD, dosen't prevent the premium from increasing but it WILL increase even more if you don't protect it. Once again another case of someone going for 'cheaper' insurance.........you get what you pay for.

Mine don't, as above, and they were cheap.
And from experience with a claim when my wife used them, excellent service too.

2010

If it`s not a scam then it`s certainly a gimmick to give NCD above 5 years.
What`s the point of building up to 10 years and then changing insurers to find out the max they give is 5.

As I pointed out earlier I went from 9 years with D-line to 6 with LV to 6 with the Co-op.
Now after a year with the Co-op the renewal is still 6 years and then in brackets 72%.

If 5 years is the standard then all the rest is a gimmick to fool people into believing they are getting more than (no pun) they really are.

Quentin

It is a marketing "gimmic" - the customer believes they are getting a better deal (much the same as some furniture retailers give you more than 50% off the RRP).

As has already been pointed out, the "reward" of eg. an extra 1% per year discount after you have reached the normal max of 65 or 70% for 5 years NCD should be viewed in relation to the premium being charged!

These companies are "truly" giving the extra 1% per year off, (though as posted, these extra years do disappear in the event of a claim, when you go down from 5), but if you shop around at renewal, it shouldn't be hard to find someone who will beat the renewal premium yet only give a 65% max NCD.