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    • 2ndAccount
    • By 2ndAccount 29th Apr 18, 6:21 PM
    • 25Posts
    • 3Thanks
    Home Insurance - moral (and financial dilemma regarding NCD)
    • #1
    • 29th Apr 18, 6:21 PM
    Home Insurance - moral (and financial dilemma regarding NCD) 29th Apr 18 at 6:21 PM
    I have held contents insurance whilst renting for the last 2 years, from this renewal will have 2 years NCB.

    Recently purchased my own home, added buildings cover during the last years insurance. First time I've had to take out my own buildings insurance.

    My renewal has come through and the premium is far lower than I was expecting, reading through all the details evething is correct except one thing, it shows on the documents i have 5 years buildings NCD and 5 years contents NCD.

    I have never told my insurer I have this level of NCD, so I don't know how this has happened. I was expecting confirmation of 2 years for contents and 0 for buildings.

    Should I own up to the insurers own mistake, or work on the basis it's their mistake and I haven't misled them so it's not my fault?
Page 1
    • FutureGirl
    • By FutureGirl 29th Apr 18, 6:35 PM
    • 1,201 Posts
    • 497 Thanks
    • #2
    • 29th Apr 18, 6:35 PM
    • #2
    • 29th Apr 18, 6:35 PM
    You know it's incorrect, so tell them. If you try to use that as proof of 5 year NCD, the new insurer could question this with the old insurer. When they then tell them you only have 2 years NCD, you'll then likely have your policy voided.
    • Novice investor101
    • By Novice investor101 29th Apr 18, 6:36 PM
    • 556 Posts
    • 1,703 Thanks
    Novice investor101
    • #3
    • 29th Apr 18, 6:36 PM
    • #3
    • 29th Apr 18, 6:36 PM
    Your renewal quote will tell you to check the details carefully & to inform them if any of it is incorrect. If you choose not to do that then you are basically accepting all the details as correct.
    Seriously, it is not worth risking your most valuable asset for the sake of saving a few quid. If you had a fire that destroyed your home then you may be faced with either the insurer declining your claim or only paying out a reduced amount, & you risk losing the lot!
    Call them, 'fess up & protect your home properly.

    I've been fortunate enough to never have to claim on my home insurance, but I make damn sure I have a true & robust policy in place because I cannot afford to start again from scratch if it burnt down - the yearly premium is worth it.
    After a couple of years claim free your premium will naturally decrease anyway.
    • huckster
    • By huckster 30th Apr 18, 6:04 AM
    • 3,814 Posts
    • 1,724 Thanks
    • #4
    • 30th Apr 18, 6:04 AM
    • #4
    • 30th Apr 18, 6:04 AM
    Yes phone them to check.

    However, I suspect that the Home Insurers may apply this 5 years discretionary NCD discount purely from a question as to whether you have had any Home Insurance claims during the last 5 years. If you answered no, it might have just added the 5 years NCD and it is not related to the 2 years you have had for Contents Insurance, 0 for Buildings.

    Remember that Home Insurance NCD has always been different to Car Insurance. With Car Insurance there is an established NCD system, where proof of NCD needs to provided. With Home Insurance it has never really been a proper NCD system, as not all Insurers offer such an advertised discount.

    Of course, you should provide accurate information and the key question is the one you were asked about not having any insurance claims during the period they asked you about.
    The comments I post are personal opinion. Always refer to official information sources before relying on internet forums. If you have a problem with any organisation, enter into their official complaints process at the earliest opportunity, as sometimes complaints have to be started within a certain time frame.
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