NCD

moneychats1

Hello,

Can anyone advise ? last year I applied for car insurance quotes. 4 years ago I was involved in an accident where I was not at fault and the other party's insurance paid me compensation. However, I always report it in quotes but I was unaware that it negatively affects my NCD even although I was not at fault.  My insurance premuims  increase  because of this. Can anyone advise how I can contact MSE directly as i entered my details on this site when looking for quotes.

Thanks
Moneychats

MyRealNameToo

moneychats1 said:

Can anyone advise ? last year I applied for car insurance quotes. 4 years ago I was involved in an accident where I was not at fault and the other party's insurance paid me compensation. However, I always report it in quotes but I was unaware that it negatively affects my NCD even although I was not at fault.  My insurance premuims  increase  because of this. Can anyone advise how I can contact MSE directly as i entered my details on this site when looking for quotes.

Thanks
Moneychats

If you claimed directly from the third party then your NCD wouldnt be impacted. Your premiums may still increase but thats another matter, NCD just is a discount. 

You are required to declare all losses irrespective of fault or if you claimed or not. The impact of fault claim will be notably more than a non-fault incident. 

Not sure why you are trying to contract MSE? Just answer questions honestly and see the prices quoted.

Ectophile

Your NCD is whatever it states on the insurance renewal notice each year.  It gives a discount on whatever is the premium.

The premium will depend, amongs other things, on your claim history.  So you can have a high NCD, but still pay high premiums.

moneychats1

Hi I was wanting to contact MSE as the insurer advised the quite was derived from their website.
Hopefully it can be resolved .
 Thanks 

Goudy

What you pay for insurance is based on your premium.
This is worked out on your risk. So age, location, car, claims, incidents and so on.

If you don't make any claims you will normally receive a no claims discount on that premium each year up to a maximum.

Different insurance companies recognise different lengths of NCD's, so you could move from one that recognise 9 years to one that recognises 5 years only, so that is the maximum they will allow and you effectively "lose" 4 years.

The discounts are not all the same between insurance the companies, so one might only offer a few percent each year and others might reward a single non claim year more generously.

So your premium with company X might have been £1000 with 9 years NCB that equates to 50%. So you pay £500.

Company Y's premium is also £1000 but they only recognise 5 years that equates to 40%. So you would pay £600.

Now your risk might have changed and/or insurance company X have increased the premium for other reasons (profit) but you still have 50% NCD.
So instead of a premium of £1000, it's now £1200.
Your NCD hasn't changed, it's still 50% so you would pay £600. 

Company Y might also have increased the premium to £1200 but only have a maximum 40% discount, so you would pay £720. 

Each Fault claim will usually knock 2 or 3 years off your NCD and increase your premium as your risk profile changes.
So a double whammy. Your premium might hit £1500 and you now only have 25% NCD, so you pay £1125.

If your risk somehow changes, your premium will go up but you won't necessarily lose any NCD.
A non fault claim will just alter your risk and increase your premium.

And of course your insurance company are in it to make money so will usually increase your premium slightly each year to make more profit.

Bigphil1474

OP, use a different comparison site? You should be able to edit your details, but either way you still have to report the no fault claim for however long the insurers ask. Often they ask 'in the last 5 years' so you've still got a year to go.

born_again

moneychats1 said:

Hi I was wanting to contact MSE as the insurer advised the quite was derived from their website.
Hopefully it can be resolved .
 Thanks 

Quote will be based on what you entered. MSE will simply pass that info on to all co's that take their feed.
MSE will not be able to change anything.

So why has insurer said to contact MSE?