Are car insurance companies scamming us all? Through number of no claims years?

Aretnap

OnanTheBarbarian wrote: »

Maybe this is urban legend, but is there s statistic that, on average, a motorist will be involved in a smack every 7 years?

So would somebody who rocks up with say 10 years NCD under their wing potentially be viewed as a more risky prospect because statistically "you're overdue an accident" compared to somebody who has say 5 years NCD?

http://en.wikipedia.org/wiki/Gambler's_fallacy

Using that, ahem, logic, insurers would see someone who'd had five accidents in a year as an extremely good risk, as he could now expect about 35 years of trouble free motoring. What could possibly go wrong?

CKhalvashi

jackieblack wrote: »

In that case I'm overdue several accidents :eek:

If we're going on average mileage here, so am I!

3 smacks in about 750k miles of driving has to be pretty good....

CK

whatmichaelsays

OnanTheBarbarian wrote: »

Maybe this is urban legend, but is there s statistic that, on average, a motorist will be involved in a smack every 7 years?

So would somebody who rocks up with say 10 years NCD under their wing potentially be viewed as a more risky prospect because statistically "you're overdue an accident" compared to somebody who has say 5 years NCD?

You and I really should play poker some time.

[Deleted User]

Quentin wrote: »

How can they do this?

You don't know?

All aviva can confirm is the number of years the op proved to them when first taking out the aviva policy plus the subsequent year(s) as an aviva policyholder.

Oh, you do know... Then why ask?

mrcurly1975

I had the same issue with AXA. I have been driving 20 years and apart from one claim I should have 15 years no claims. When it came to renewal I shopped about and got a quote from AXA based on 15 years no claims as their website allowed me to input 15 years in the quotation page.

When my renewal arrived from my current insurer it said 9 years. When I rang up and asked about this I was told they only recognise up to 9 years. So now there is 6 years of my no claims lost in cyber space so to speak.

Typical rip off Britain. The consumer comes last. :mad:

InsideInsurance

How is it a rip off when the maximum discount is given at 9 years? They could say you have 109 years and you'd still be getting the same discount and still go down to 3 years after a fault accident

dunstonh

When my renewal arrived from my current insurer it said 9 years. When I rang up and asked about this I was told they only recognise up to 9 years. So now there is 6 years of my no claims lost in cyber space so to speak.

Typical rip off Britain. The consumer comes last.

1 - how is it lost when the maximum they give is 9 years?
2 - not that it makes a difference, but you can supply them a copy of you last and previous to that schedules to show you had longer.

KennethC

InsideInsurance wrote: »

How is it a rip off when the maximum discount is given at 9 years? They could say you have 109 years and you'd still be getting the same discount and still go down to 3 years after a fault accident

This is my clear understanding too. I have nearly as many years as Methuselah, I'm not suggesting that there have not been a few minor scrapes in car parks and the likes, but I have always paid to have them cleared up, just not worth paying the excess and reducing my NCD.

mrcurly1975

The new company AXA offers discount up to 15 years.....otherwise why would they allow you to input that amount? However I could not prove I had 15 years due to my previous insurer only recognising up to 9 years.

Therefore AXA where going to charge me more than the quotation price due to me not being able to prove the 15 years.

I would have kept my previous insurance documents to prove my proof of no claims but I have not had this happen before as for the last 5 years I have not had to send off proof of no claims to any insurance company I have used.

All car insurance companies should have a set standard of how many years no claims they keep on record. Some have 5, some have 9, others go all the way up to 20.

InsideInsurance

Just because they count up to 15 years doesnt automatically mean they are giving discount up to that. A former client counted up to 99 years but only gave discounts for up to 5 years.

The "problem" with trying to standardise is the fact that companies will always want to try and do things differently to give a selling point. Secondly, many insurers have ancient IT systems where these things are hard coded and the cost to alter them would be massive plus then create problems for the backbook where the data has already been capped.

The majority of insurers will create a letter for you with your "true" NCD total even if their system only sends a "5 or more" by standard