Buildings insurance - one claim - is no claims totally down to 0 now?

bertiebb_2

I know with car insurance you can have more than 1 claim. Does it work the same way with building insurance or is it now ZERO?

Not sure what sort of discount I'd be losing...

Aretnap

No claims discount in buildings insurance is not as well developed a concept as it is for car insurance. Some insurers don't offer it at all (they just ask how many claims you've had), others offer it but the way they operate it varies widely.

If your insurer does offer NCD then your policy book should say what happens to in in the event of a claim.

DullGreyGuy

bertiebb_2 said:

I know with car insurance you can have more than 1 claim. Does it work the same way with building insurance or is it now ZERO?

Not sure what sort of discount I'd be losing...

With car insurance, thats not protected, your NCD drops 2 years unless you have 5+ years in which case you drop to 3 years. Car insurance does universally offer NCD Protection for 3+ years cover which allows 1 claim in a policy year and up to 2 claims in 3 policies years. 

As above, NCD in home insurance is still rather novel and most dont offer it, and even fewer offer NCDP. In most cases NCD is simply lost in the event of a claim unless you are with the minority offering NCDP. Time will tell if the concept expands and/or normalises 

bertiebb_2

Yes thought it wasnt as common to be honest.....