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No claim discount bonus not protecte, claim will reset to NCB to zero?

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No claim discount bonus not protecte, claim will reset to NCB to zero?

edited 30 November -1 at 1:00AM in Insurance & Life Assurance
3 replies 423 views
alexa123alexa123 Forumite
5 posts
edited 30 November -1 at 1:00AM in Insurance & Life Assurance
I've over 9 years of no claim but not protected this year. If I make any claim at my fault, will it reset to zero my no claim discount bonus. How much premium I can expect to be increased in the next year premium.

Replies

  • DCFC79DCFC79 Forumite
    38.7K posts
    Part of the Furniture 10,000 Posts Name Dropper
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    alexa123 wrote: »
    I've over 9 years of no claim but not protected this year. If I make any claim at my fault, will it reset to zero my no claim discount bonus. How much premium I can expect to be increased in the next year premium.

    Speak to your insurer if it will reset your ncd, this should be detailed in the documentation you got from the insurer or on the website . As for how much premium you can expect to pay, well its anyones guess, we don't have access to the algorithms insurers use so again you would be better off asking your insurer.
  • angrycrowangrycrow Forumite
    853 posts
    Fifth Anniversary 500 Posts
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    Most insurers will treat the maximum bonus as 5 years. They then knock off 2 years for a claim dropping the 9 years ncd back to three years.

    If you look at your policy documents they should tell you how much a claim would reduce the ncb by.
  • QuentinQuentin Forumite
    40.4K posts
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    You can get an idea of what difference this loss of NCD and claim will make to future premiums now by doing dummy quotes online
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