Protected No Claims Bonus? Scam?

Tucker

mikey72 wrote: »

So, as an underwriter, why do you want to sell it?

If underwriting is making a loss overall, why are you pushing a product that will further excarberate losses?
Would it not be better to remove it entirely, and let premiums naturally increase for higher risk drivers?

Very very good post.:cool:

and hard to argue against with any logic!! In fact post of the year award for me...

bigjl

I like protected NCD, my car got stolen and not recovered in Feb '08, got paid out almost £8k, made no difference to my next premium. None atall.


This was with Admiral, we had a multicar policy, when the wife bought her Clio in Nov '09 we put it on the policy, it got hit in a non fault about 8 weeks before renewal and due to Christmas and the non faukt repair place taking their time the claim wasn't settled when renewal time came, they said we couldn't protect the NCD until it was fully completed, even though it was non fault and we had used a claim recovery company.

I wasn't prepared to leave 7 yrs NCD unprotected, so we went to Swintons, have been there ever since for the Clio, though after getting a renewal for the Mondeo of well over a grand with 9 yrs NCD we went with Santander, funnily enough we are insured with the same underwriters, Equity Red Star, you can't make it up with insurance.

But in the case of the OP, his lack of understanding doesn't make it a scam.

bigjl

mikey72 wrote: »

So, as an underwriter, why do you want to sell it?

If underwriting is making a loss overall, why are you pushing a product that will further excarberate losses?
Would it not be better to remove it entirely, and let premiums naturally increase for higher risk drivers?

No, if you think about it they are actually selling a second policy to the kind of driver that rarely claims.

If you think about it all you are doing is insuring your discount, not your policy cost, so for £80 to £100 you are protecting the NCD reduction that may or may not be worth more than the cost of insuring it.

I would recommend it, the first year I protected my NCD was the year my car was nicked.

I may think diffreently if I had paid the extra for ten years and never claimed.

For me personallyt it has saved me several hundred pounds.

Inactive

bigjl wrote: »

I like protected NCD, my car got stolen and not recovered in Feb '08, got paid out almost £8k, made no difference to my next premium. None atall.


This was with Admiral, we had a multicar policy, when the wife bought her Clio in Nov '09 we put it on the policy, it got hit in a non fault about 8 weeks before renewal and due to Christmas and the non faukt repair place taking their time the claim wasn't settled when renewal time came, they said we couldn't protect the NCD until it was fully completed, even though it was non fault and we had used a claim recovery company.

I wasn't prepared to leave 7 yrs NCD unprotected, so we went to Swintons, have been there ever since for the Clio, though after getting a renewal for the Mondeo of well over a grand with 9 yrs NCD we went with Santander, funnily enough we are insured with the same underwriters, Equity Red Star, you can't make it up with insurance.

But in the case of the OP, his lack of understanding doesn't make it a scam.

Admiral, Swinton, Santander and Equity Red Star, you sure do know how to choose them .. :rotfl::rotfl:

bigjl

Yes, quite well thanks, I have very little to complain about as far as car insurance goes.

I find if you are polite and honest then you have no issues.


I can see from your many negative and pointless posts that it is highly likely that you would be able to wind up any company you have dealings with, I think you could even wind up The Pope.

I notice that, like every other purile post of yours, you attack other people choices but never actually offer any alternatives. Yawn, you are boring us all now.

Inactive

bigjl wrote: »

Yes, quite well thanks, I have very little to complain about as far as car insurance goes.

I find if you are polite and honest then you have no issues.


I can see from your many negative and pointless posts that it is highly likely that you would be able to wind up any company you have dealings with, I think you could even wind up The Pope.

I notice that, like every other purile post of yours, you attack other people choices but never actually offer any alternatives. Yawn, you are boring us all now.

Don't try to speak for others, anyway;

There is only you and me in here.. :rotfl::rotfl:

bigjl

Mmm, only us two here, and you are boring me......................

Inactive

bigjl wrote: »

Mmm, only us two here, and you are boring me......................

Put me on ignore then.... easy.

bigjl

Inactive wrote: »

Put me on ignore then.... easy.

No, as I said in the other thread, you seem to derive some kind of perverse satisfaction into winding people up until they put you on ignore.

No, I will continue to try an wind you up, seem pretty easy to do, just mention my favourite place to buy bargain ex fleet motors otherwise known as CarGiant, and the fact that I work for the Ambulance Service and that fact seems to wind you up aswell.

I just hope I can convince the boss of Fleet Services to buy a load of cars from Car Giant, unlikely as we only buy new vehicles, but would be worrth it so I could tell you all about it and the money that has been saved instead of buying the same at a main dealer.

Now that may just make your head explode.

Though if it did, don't call an Ambulance, you don't like them do you:rotfl:

Inactive

bigjl wrote: »

Though if it did, don't call an Ambulance, you don't like them do you:rotfl:

I do like them, they are operated by really nice people around here.