Car Insurance - Protected No Claims Discount

Supersaint13

Wonder if anyone can help?

I have had my car insurance with Swift Cover for the last two years. At the outset, I proved a no claims discount of 8 years, took the ncd protection and last year my premium was just over £295, with my wife as a named driver on the policy.

In August last year, I had an accident, not yet settled as liability is disputed.

I have just received my renewal notice and the premium quoted is £588 - nearly double last years! I was expecting a rise, but not by this extent.

What is the point of taking protected ncd if this can happen?

In addition, even though I have now 10 years nsc, they will only quote "5+" years, which is impacting on other quotes I can get.

Anyone any suggestions please?

raskazz

Supersaint13 wrote: »

Wonder if anyone can help?

I have had my car insurance with Swift Cover for the last two years. At the outset, I proved a no claims discount of 8 years, took the ncd protection and last year my premium was just over £295, with my wife as a named driver on the policy.

In August last year, I had an accident, not yet settled as liability is disputed.

I have just received my renewal notice and the premium quoted is £588 - nearly double last years! I was expecting a rise, but not by this extent.

What is the point of taking protected ncd if this can happen?

Because the increase, whilst high, is a lot lower than it would have been had you not included protected NCD.

Supersaint13 wrote: »

In addition, even though I have now 10 years nsc, they will only quote "5+" years, which is impacting on other quotes I can get.

Just ask Swiftcover to confirm the total years earned rather than their own maximum.

Supersaint13

Thanks raskazz. I have received lower quotes through comparison sites, so won't be going with swift unless they at least match them.

Part of the increase may also be because of the revised rates for women drivers (as usual, rates for women go up, rather than rates for men going down to avoid "discrimination!") with my wide being a named driver.

lisyloo

What is the point of taking protected ncd if this can happen?

It protects your discount not your premium.
So for example 50% discount on £1K is still less than £50% discount on £2K.
They never said they would protect your premium.

What is the point?
Well if your discount reduced AND your premium increased then you'd be in a much worse posistion.
At least you have protected part of it.

Part of the increase may also be because of the revised rates for women drivers

I don't work in the industry but I'd be very suprised if they have altered their rates already.
The ruling comes into effect in December 2012.
It's probably down to a 30% increase across the board in 2010 plus the usual high renewal rates where companies rarely offer the best deals to returning customers.

with my wide being a named driver

She might not like you calling her wide :-)

adamc260

Raskazz has it spot on They're re-rated you as a higher risk as you've had an accident now. If you didn't have Protected NCB the premium hike would of been even higher (as each year of NCB = % off the premium)

Supersaint13

Thanks Lisyloo and Adam - and yes Lisyloo, "Wide" was a typo - she's quite slim really!! :-)