Protected NCB for life?

Belnahua

Does anyone know which insurance companies protect your NCB for life.

I'm currently with More Th>n who do.

Is there anyone else out there?

Thanks.

jonesMUFCforever

I don't know of any that do but would it be worthwhile for you to continue to buy your insurance purely on this basis?

What is the point of having NCB for life if their premiums are more expensive than say another insurance company?

shelly

****MORE TH>N's Maximum No Claim Bonus for Life

Maximum No Claim Bonus for the life of your policy is designed to reward your good driving and applies to our comprehensive policy.
It’s taken a long time to build up your bonus and to enjoy a 65% discount off your premium, so why risk losing it?
With MORE TH>N, you don’t have to.
We promise we will not reduce your No Claim Bonus or cancel your policy JUST because you make a claim.
Your premium could change, however, if you make a claim, if we review our rates or for example if you change your car. You will no longer benefit from Maximum No Claim Bonus for Life if your policy is cancelled either by you or by us as a result of a change in your circumstances such as you buying a car we don’t insure.
You will be eligible for this superb cover if:

<LI class=text>you already have 4 years No Claim Bonus <LI class=text>you haven’t had more than one claim for theft or an “at fault claim” in the past 5 years or
• you haven’t had more than 2 accidents in the past 5 years that have not been your fault.

You’ve earned your Maximum No Claims Bonus, now keep it. ****



The above I copied and pasted from morethans site. Doesn't sound that good to me. Sounds to me exactly like you would get on any other policy where you protect your NCB.

Also I'm 99% sure (but can't find written evidence) that the advert on tv advertising this says that max NCB is covered for life only until you make a claim. If I'm right its not worth doing IMO.

Agree with ejones too that why stay with a co simply for this reason? They could double your premium one yr but you would stay with them for the supposed deal on your NCB.

V_tricky

According to the policy booklet online,

"Your maximum No Claim Bonus Protection may end if we are told of a change in your circumstances that makes you ineligible or if the policy runs out or is cancelled under the terms" - ie if you get lots of driving convictions etc -another thing which *might* make you ineligible would be if you have a series of accidents in a small timeframe, in which case they would either load your policy, but keep the discount, or perhaps not invite renewal. Before they started the NCDP4Life you could have 3 accidents in 5 years iirc, before you would lose the protection, but of course in reality, most drivers, most of the time would not have that many accidents in such a short period anyway.

"Your premium may change if we are told about a change in your circumstances or when you renew the policy because we have increased premiums generally, or because you have made a claim."

If another company is coming up cheaper, and they do standard NCDP, then unless you're exceptionally unlucky within their set time frame, it would seem to be advantageous to move

bjo_2

V_tricky wrote: »

According to the policy booklet online,

"Your maximum No Claim Bonus Protection may end if we are told of a change in your circumstances that makes you ineligible or if the policy runs out or is cancelled under the terms" - ie if you get lots of driving convictions etc -another thing which *might* make you ineligible would be if you have a series of accidents in a small timeframe, in which case they would either load your policy, but keep the discount, or perhaps not invite renewal. Before they started the NCDP4Life you could have 3 accidents in 5 years iirc, before you would lose the protection, but of course in reality, most drivers, most of the time would not have that many accidents in such a short period anyway.

"Your premium may change if we are told about a change in your circumstances or when you renew the policy because we have increased premiums generally, or because you have made a claim."

If another company is coming up cheaper, and they do standard NCDP, then unless you're exceptionally unlucky within their set time frame, it would seem to be advantageous to move

say your policy is £1000
no claim bonus is 70%
you pay £300
protected no claim bonus.
make a claim your policy will increase
??? and you will 70% off new premium

missile

We promise we will not reduce your No Claim Bonus or cancel your policy JUST because you make a claim.
Your premium could change, however, if you make a claim,

Sounds like a scam to me................ We will not reduce your NCB but we will increase your premium

V_tricky

No, it's not a scam - insurers evaluate the risk at each renewal and price their policy accordingly. Statistically if someone has already had an accident, or a series of accidednts, they are more likely to have another accident.

This seems to come up fairly often on this forum, so again I thank mattymoo for his link to the ABI (Association of British Insurers) website which explains how the no claims discount works.

It's unfortunate that people don't realise how their premiums are calculated, or understand NCD, so I think it's worthwhile explaining again -

If any driver on the policy has an accident, it will affect the no claims discount (unless you have no claims discount protection) - however - this does NOT mean that your premium wont change.

Thanks to mattymoo for the following link which highlights how NCDP works:

Association of British Insurers

" Note, however, that it is the discount that is protected. Insurers need to take into account a person’s claims history in setting the next year’s premium, whether or not the discount is protected. "

So once a claim is made, the base risk will change (more than likely increase) but you will still get a discount on the overall figure.

All (or most) insurers will calculate risk (and therefore premium) on this basis, not just the insurer in the OP's post

V_tricky

bjo wrote: »

say your policy is £1000
no claim bonus is 70%
you pay £300
protected no claim bonus.
make a claim your policy will increase
??? and you will 70% off new premium

That's exactly right bjo -

So your premium is £1000
NCD is 70% and is protected
You pay £300

The following year premiums go up generally, so your premium is now £1100
You also have had a driving conviction, and a claim - even if it's a non fault claim it may affect the premium. Because of this your premium now goes up to £1200.
You still have a 70% protected NCD, so you get 70% off the £1200

Your new premium is now £360

shelly

missile wrote: »

Sounds like a scam to me................ We will not reduce your NCB but we will increase your premium

Its not a scam but its still nothing special. AFAIK every policy that protects your NCB has the same term.

Hubby protects his NCB every year and I made a claim on the policy last year. Whilst his max NCB remained intact at renewal the premium went up but we fully expected it to. I shopped around and got the same policy cheaper elsewhere. It was even cheaper than we paid before the claim was made.

V_tricky

And back on topic...........


According to THIS website, Norwich Union Direct are looking to start doing NCDP4Life, but I couldn't see any reference to it on their actual website, so best to check with them if you feel this is important to you

:cheesy:

missile

Ok not a "scam" just clever marketing hype