No Claims Discount Protection

Max_Maxwell

Apologies in advance if this is a subject previously raised...

My car was bumped by an unknown party (it was parked in a side street and I found the wing dented when I returned) and the other party very kindly chose not to leave their details.

I have no alternative but to claim on my insurance for the repair but I do have protected NCD, and with the maximum discount possible - 9 years claim free - this adds up to a substantial saving each year and so worth protecting.

However, a friend pointed out that my NCD only remains intact if I renew with the same insurer next year, and if I renew with ANOther insurance company they will view me as having no accrued NCD because I have made a claim on my previous policy. I'm therefore, debating whether to just pay for the damage myself to avoid the massive increase in premium I may well have to absorb come renewal.

Thoughts please?

Max

Lum

That one is news to me.

Your renewal notice will state how much NCB you are entitled to, you send this on to your new insurer, job done.

That said, most policies these days only dock 2 years NCB for a claim, and most only offer discounts for up to 5 years NCB anyway, so I wouldn't worry too much.


Note that even with NCB, the base rate will still rise, so it may still be worth considering paying for the repair yourself, or just driving around with a dented wing.

Max_Planck

What your friend was probably referring to is that different insurers will have different rules as to how the NCB protection applies -
e.g. Insurer A may allow you to have a max of 2 claims in 3 years before you lose the protections, Insurer B meanwhile may allow 2 claims in 5 years.

Also some insurers will decline to quote with NCB protection if you've have a claim in the past year for new customers.