Protected no claims discount

Nobbie1967

Tom99 wrote: »

[FONT=Verdana, sans-serif]Yes of course its a con. You have paid extra to protect your No Claims Discount at 50%, paying £320. You have an accident and your premium is now £700 it has gone up 120% because you made a claim.[/FONT]
[FONT=Verdana, sans-serif]Your premium went up because you made a claim therefore your No Claims discount has not been protected at all even though you paid extra for it in the 1st place.[/FONT]
[FONT=Verdana, sans-serif]The insurance co telling you "but it would have been £1,400" it just a further twist to the con to try and convince you that you still have 50% NCD even though you premium has more than doubled.[/FONT]
[FONT=Verdana, sans-serif]As you have demonstrated £1,400 is 250% more than you needed to pay.[/FONT]

Not really, since if the OP had not claimed on their policy, the base premium would still have gone up once they reported the accident. The base premium has gone up because the incident happened and implies that the OP has a higher risk profile, not because they have claimed.

Arklight

Incorrect wrote: »

I have just renewed my car insurance and found that my premium has jumped from£320 to £700 . I queried this because although I had an accident , I had payed for NCD protection . The insurance company told me that I still had my 9 years NCD , but because of my accident the premium had increased . So my question is , what is the point of paying for NCD protection ?

No Claims certification dates back to the days when if you stayed with an insurer without claiming then the premium went down each year, rather than up like it does now.

The NCD was a customer retention tool because they could show you something they'd built up with you that they wouldn't have with another company.

When the market opened up a bit I believe there was some kind of legal challenge where insurers were required to produce this documentation for customers wishing to enjoy the same discount with a new insurer.

FFW to now and it's basically a part of your renewal documentation. It doesn't matter how careful you are your insurance will rocket if you don't change insurers every year, so you are going to market as a new risk. All new insurers will assess based on risk, which is:

A) Have you been in an accident?
Was it your fault?
C) Did it cost your last insurer a packet?

If the answer to all these are Yes, having a meaningless PDF you paid for saying you haven't claimed when you have claimed is not going to get you cheap insurance.

Incorrect

That's the whole point !! A meaningless pdf that the insurance company sold to me !!

FreddieFrugal

Arklight wrote: »

It doesn't matter how careful you are your insurance will rocket if you don't change insurers every year,

Not always true. It's always best to check the market but I've had a few years now where my current insurer has offered at renewal a lower premium than the competition. Without me having to haggle with them.

Direct Line this year offered me a renewal that was 30% lower than the year before and about £70 cheaper than the very lowest quote I was able to get online.

Jumped on that offer obviously.

moneysaver

FreddieFrugal wrote: »

Not always true. It's always best to check the market but I've had a few years now where my current insurer has offered at renewal a lower premium than the competition. Without me having to haggle with them.

Direct Line this year offered me a renewal that was 30% lower than the year before and about £70 cheaper than the very lowest quote I was able to get online.

Jumped on that offer obviously.

Have you got the max NCD?


In all my years of driving after getting to max NCD I have never had a cheaper price at renewal, It always goes up.


Just had a renewal this week as usual it was more expensive by £24. Followed Martins tips got quotes 21 days before renewal moved insurers and got it cheaper by £50. Also £30 cashback from Quidco.:j


Moneysaver

AdrianC

moneysaver wrote: »

Have you got the max NCD?

In all my years of driving after getting to max NCD I have never had a cheaper price at renewal, It always goes up.

Inflation...? And, in recent years, IPT increases.

moneysaver

AdrianC wrote: »

Inflation...? And, in recent years, IPT increases.

Not in the previous posters case.




Moneysaver

sheramber

moneysaver wrote: »

Have you got the max NCD?


In all my years of driving after getting to max NCD I have never had a cheaper price at renewal, It always goes up.


Just had a renewal this week as usual it was more expensive by £24. Followed Martins tips got quotes 21 days before renewal moved insurers and got it cheaper by £50. Also £30 cashback from Quidco.:j


Moneysaver

Why post on a 9 month old post?

moneysaver

Why Not?:huh: Sorry if it annoyed you.

jlemaitre

Another one for Direct line here, They're not on compare sites so often overlooked. They were so good that to no surprise the cheapest company i saw between 2 compare sites.

I have used them many years ago on my Mitsubishi Evo, and on my Mazda Eunos. I've dapped my toes with a few others since, but this year found myself going back to them.

I actually found AA to be one of the higher ones on the list(s) for a policy.

Edit, my apologises, it appears to be an old thread.