Reclaiming Overpaid Car Insurance

RhysAC

Hi I recently had a claim cleared off my car insurance as a no fault incident. This happened in September 2012 when I had no NCD as my policy only started in June 12. Since I started my policy 2 years ago and cancelled it in June this year when my renewal came up, I've had no other claims/incidents. When I called today about my 2 years NCD they said I only had one from June 13 to June this year. After speaking to 'higher people' they changed that to 2 years which is now right. They said I will be due everything I have overpaid since June 13 when I should have had a years NCD. How will this be calculated and will they show me the calculations? This is with Hastingd Direct if that helps.

InsideInsurance

They will apply the percentage discount they give you for the extra years NCD based on all your other criteria. Its highly unlikely they will show you the calculations as pricing methodology is a highly guarded secret/ commercially sensitive

NCD used to be a basic progression of percentage discounts and was listed in policybooks. More recently its become more complex and tied to other elements.

RhysAC

Thank you for your reply. Yes I thought it would be done by percentage and wanted to confirm that so I know I don't get under paid, which I wouldn't he surprised.

nobbysn*ts

InsideInsurance wrote: »

They will apply the percentage discount they give you for the extra years NCD based on all your other criteria. Its highly unlikely they will show you the calculations as pricing methodology is a highly guarded secret/ commercially sensitive

NCD used to be a basic progression of percentage discounts and was listed in policybooks. More recently its become more complex and tied to other elements.

Yes, it's a secret. But only because they choose it to be. To avoid them screwing you over, do a dummy quote, nearby postcode, dummy name, generic car etc, and the two different ncd. This will give you a good estimate of the cost of insurance, and that's the percentage you're looking at.