NCB percentages

seatbeltnoob

Herzlos wrote: »

Without protected you'd lose 2 so be at 3 years NCB on the presumably higher premium.

I'm not sure what happens above 5, if you drop down to 5 or not (I'm at 11 so protect anyway)

How much do you pay every year to protect your noclaims?


I have 8 years NCB and I have never paid to protect the NCB.



Presumably you've had NCB protection every year for your 11 years, lets use a figure of £25 to protect your NCB, So over 10 years you've spent £250 protecting something to gain what exactly?


You can clearly see that after 3 years NCB the gains are marginal. Some insurers dont even give you any NCB past 5 years.


I'd take my chances with my 8 years NCB, and if I have to claim they'd knock it down to 5 years NCB? if it gets subtracted from 5 I'd end up with 2 years NCB?


Paying for a stupid NCB is asinine. It's clearly a tax on fear.

seatbeltnoob

My gut feeling is that NCB is just fake anyway.



I'd like someone to do side by side comparisons of 2 people in the same neighbourhood. Same driving record one with 5 years NCB and the other without, and see what the true difference is.


I bet it will come down to actual driving record. How long has the license been held for (background checks on insurance databse to see how long they've had active insurance for), whether they had accidents or motoring offences in the last 5 years.

AdrianC

Goudy wrote: »

I went from 18 years to 4 years NCB in less than 8 months, happy I'm not!

But now you know for a fact that that's a trivial difference - less than 5% - in your premium...

Shaun_of_the_Dead wrote: »

But with a claim you don't know what the base price would be.

Higher than without a claim. No matter what your NCB. And that's the bit that bites.

A few years ago, my car was hit while parked. The other driver accepted responsibility and their insurance coughed without hassle. My premium went up more than a couple of three point photos would have affected it.

Is it fair it went up? Actually, yes, absolutely! It was parked outside my house in the day, and was hit by somebody reversing out of the drive over the road. We'd had a few incidents of cars rolling down the hill - my next door neighbour's car was written off by one, minutes after I'd moved mine (which would have been in the way). Another ended up upside down in somebody's front garden.

AdrianC

seatbeltnoob wrote: »

I'd like someone to do side by side comparisons of 2 people in the same neighbourhood. Same driving record one with 5 years NCB and the other without, and see what the true difference is.

51%, if they're both average Zurich customers...

Goudy

Well after both claims this year my renewal is in and they have kindly compared it to last year.

Last year was £260 with 18 years NCB. (but 9 years max considered)

This year £400 with 4 years NCB.

Even though I had 18 years claim free, I have effectively lost 5 years as they only count to 9.

I logged on to Swiftcover to check the renewal and it does state I have two claims.
One fault claim settled and one fault claim open.

So what I now pay is just shy of 54% more than last year.

Without crunching the numbers I gather this increase is due to an increase in premium and a decrease in NCB.

As both are down as fault claims but really no fault of mine, I didn't steal my own car or crash into the other myself, it's a little disappointing.

But when I consider what the insurance has actually paid out, the extra £140 this year and subsequent percentages of that I will pay over the next 5 years to return to max 9 years, it's not all that bad.

The theft settlement was in excess of 16k, if they write this one off I already have it valued from a dealer on the order form for my new car at 7k trade in, if they do repair it, that's likely a payment of 2k or so.

As a rough calculation, I'm likely to pay an extra £400 or so on insurance over the next 5 years when they have already made payouts of between 18-23k.


Even on the smallest payout figure, the likely extra payments to them is around 2% of the payouts they have already made/about to make.

AdrianC

Goudy wrote: »

Without crunching the numbers I gather this increase is due to an increase in premium and a decrease in NCB.

As both are down as fault claims but really no fault of mine, I didn't steal my own car or crash into the other myself, it's a little disappointing.

But absolutely to be expected... Having your business has cost your insurer money - and one claim means you're more likely to claim again.

Even on the smallest figure, the likely extra payments to them is out around 2%of their payouts.

Because they know that - while more likely to claim again than without those claims - you're still very unlikely to claim...

Goudy

AdrianC wrote: »

But absolutely to be expected... Having your business has cost your insurer money - and one claim means you're more likely to claim again.

Yeah, I actually expected it to be far worse.

I did consider searching around for a better quote than the £400 and I reckon I might have saved a few quid, but apart from a few issues with communication with the body shop, Swiftcover/AXA have been brilliant when it comes to handling claims.

You expect some hassle, but they have been super slick, quick and responsive and the outside claims handlers/adjusters are just as good.

I would say that they might not be the cheapest, but they are definitely value for money.