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No claims discount - is it worth it
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clacton57
Posts: 5 Forumite
How is this possible. You take out protected no claims on your house insurance. When you have to make a claim and then when your policy renewal comes through, they put the insurance premium up by 75% because "making a claim affects your protected no claims discount" . Why??? And of course if I go to another company now they will take into account I've made a claim. Over a barrel doesn't come into it, neither does seething. 🤬.
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No claims discounts on home insurance are just marketing. They only impact on that insurer and their gross premium.
NCD sees a reduction in the gross premium. However, the gross premium is set on the risks. So, without the NCD it would be higher still. However, other insurances that do not operate an NCD on home insurance may be cheaper.
I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0
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