Car Insurance - not declaring speeding ticket

specialboy

Johno100 wrote: »

I think that is one thing the OP needs to clarify. He/she may have taken a Speed Awareness Course which changes things.

OP, did you get points or did you go on a course?

rs65

GingerBob wrote: »

Well that's funny, because every time I move insurer they all ask for written evidence of my no claims bonus. How's that then?

NCB database doesn't currently exist.

Johno100

rs65 wrote: »

NCB database doesn't currently exist.

You would think that would be high up on the list if you were creating a database to be shared by insurers. The amount of time and money insurers must spend chasing NCB's from their new customers must be enormous.

rs65

Johno100 wrote: »

You would think that would be high up on the list if you were creating a database to be shared by insurers. The amount of time and money insurers must spend chasing NCB's from their new customers must be enormous.

Detecting fraud was higher up on the list when the database was created (early 90's maybe) - people didn't change insurers as often then. Some insurers do currently share NCB details but not all.

skitler

scotsbob wrote: »

Insurers share a database,

no, only MID, but they don't talk to each other checking every scrap of info and facts it would be far to complex and expensive.

dacouch wrote: »

Insurers do not share a database about speeding convictions.

Obviously Insurers within the same group eg Admiral and Diamond share their own database.

correct


a sp30 wont add much if anything to a premium, a sp50 or higher will.


best advise is to call them explaining your error and pay any extra premium before it escalates.

moaninggit

just tell them and do not give the a reason to back out of any possible claim.my sp30 adds about £30 to my insurance cost,

scotsbob

dacouch wrote: »

Insurers do not share a database about speeding convictions.

That is not what I said. I was referring to the non disclosure.

GingerBob_3

rs65 wrote: »

Detecting fraud was higher up on the list when the database was created (early 90's maybe) - people didn't change insurers as often then. Some insurers do currently share NCB details but not all.

I think the real reason is that sharing NCD data would be a direct benefit to the customer, so why should they do that? Also, by not sharing such data insurance companies maintain a hold over you in the event of a dispute - pay our (outrageous) cancellation charges or no proof of NCD; you know, that sort of thing.

dacouch

GingerBob wrote: »

I think the real reason is that sharing NCD data would be a direct benefit to the customer, so why should they do that? Also, by not sharing such data insurance companies maintain a hold over you in the event of a dispute - pay our (outrageous) cancellation charges or no proof of NCD; you know, that sort of thing.

It's more the logistics of implementing a database in which all participants agree on an acceptable format and the cost which will run into tens of millions to set up and administer.

Having said that, it looks like such a database will be set up in a couple of years as the discussions are ongoing.

Dispite what people think, cancelling policies is not a profitable business to an Insurer. Insurers make money by customers renewing policies as they typically do not make money in the first year due to the administration costs, discounts offered to gain the business and the acquisation costs eg commission payments to comparison sites.

rs65

GingerBob wrote: »

I think the real reason is that sharing NCD data would be a direct benefit to the customer, so why should they do that?

As dacouch says, they are doing it and it is costing millions. Your thinking is flawed.

Remember NCB is just a marketing tool for many insurers. There is no standard format. They would be better to dispense with it now that claims are shared on CUE, and just give discounts based on number of years claims free.