Car insurance question

mrbadexample

:hello:

It's that time of year again.

I've been going through the usual steps to try and get a decent quote. I always go for protected no claims bonus, as I have 9+ years.

BUT, I had a weeny accident in all the snow in December, slid into the back of someone, so my fault.

Protected no-claims bonus is usually 2 claims in a 1-3 year period, depending upon the insurer. Does that mean I lose it after the second accident, or the third? Because I was thinking, if it's after the second, then there's not much point in having it protected, since if I had another claim I'd lose it anyway: the annual premium would be cheaper if I didn't bother.

Thoughts please?

Cheers,
MBE

dacouch

It depends on the Insurer, typically if you use your two "lives" up you revert to maximum no claims bonus.

It's quote easy to find how your Insurer works as it confirms it in your policy, have a look in your policy under "Protected No Claims Bonus" or tell us which Insurer your with and we can find it for you

mrbadexample

Swiftcover. They're a bit Mickey Mouse, but significantly cheaper than the rest.

And I can't find any mention of it in the policy document.

Quote

mrbadexample wrote: »

Protected no-claims bonus is usually 2 claims in a 1-3 year period, depending upon the insurer.

It's usually 3-5 years.

dacouch

They are more than a bit Mickey Mouse, as you say you get what you pay for.

There protected no claims bonus is not very good which is what you would expect from Swift Cover.

Here is their Protected No Claims bonus which is not very good.

"If you have chosen to protect your No Claims Discount then, in the event of one claim on your policy in any period of insurance (up to a maximum of two claims in any consecutive three year period of insurance), your No Claims Discount will not be changed at your next policy renewal, after which your No Claims Discount will be reduced for each further claim in accordance with our declared scale."

http://www.swiftcover.com/carinsurance/policy/no-claims-discount/

mrbadexample

So if I have another claim in the next two years I'm still ok. After that I start losing. So it's probably worth me having it this year, but stopping it if I have one more claim?

dacouch

mrbadexample wrote: »

So if I have another claim in the next two years I'm still ok. After that I start losing. So it's probably worth me having it this year, but stopping it if I have one more claim?

They have a bad wording that would mean if you have a two claims in any one period of insurance then you lose no claims bonus. If this does not happen you can have a total of two in any three year period after which you start losing no claims.

Most wordings are better eg just stipulate 2 claims in three years

mrbadexample

dacouch wrote: »

They have a bad wording that would mean if you have a two claims in any one period of insurance then you lose no claims bonus. If this does not happen you can have a total of two in any three year period after which you start losing no claims.

Most wordings are better eg just stipulate 2 claims in three years

Not very well worded, is it? I had to read it several times to get my head round it, and I consider myself to be quite literate.

I've only got to get to Saturday without crashing & I'm into the next period of insurance. That does it then, I'm calling in sick for the rest of the week and not going out. :rotfl: