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BarWeetGarNarWeetNinnyBon
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Discussion Starter #1
Is it true that you can only have Protected No Claims when you have 4+ years No claims?
 

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Blast from the past !
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Kinster said:
Is it true that you can only have Protected No Claims when you have 4+ years No claims?
For some companies you have to have what they deem 'full' noclaims which can be upto 8 years!!! - but in my experience yes you can only insure your insurance once you are obviously such a good risk you don't need to
 

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BarWeetGarNarWeetNinnyBon
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2,598 Posts
Discussion Starter #3
Re: Re: Protected No Claims

Racer said:


For some companies you have to have what they deem 'full' noclaims which can be upto 8 years!!! - but in my experience yes you can only insure your insurance once you are obviously such a good risk you don't need to
sh*t, that counts me out. I've only got 2 years 10 months No claims.

By the way, if I've got 2 years 10 months. Do I specify it as 2 years no claims or 3 years no claims?

thanks in advance
 

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No Claims Discount

Some insurers do allow protected NCD at lower levels of discount (Cornhill & Royal Sun Alliance do I think) but it's rare. Anyway, in my experience the quotes including these options will make them unattractive.

Typically, you'll pay 12-15% surcharge to protect your NCD. You have to weigh up the extra you pay each year against the likely increased premium if you have a claim and lose some discount. Plus, if you've got a high excess, you won't want to claim for a minor knock anyway.

Another thing to look at is the actual NCD scale used: some insurers use the old traditional 30%, 40%, 50% and 60% discount levels. You usually drop 2 levels after a claim - called the "stepback." However, there are some companies using better scales with more intermediate levels: e.g. 30%,40%,50%,60%,65%. You take longer to reach max discount, but a claim can be less painful at next renewal.

Don't forget that unrecoverable claims, such as hit-and-run and thefts are classed as "prejudicial" and will affect NCD in most cases.

As far as NCD per year is concerned, I'm afraid it's based on complete years of insurance - so 2 years and 363 days = 2 years NCD. You must complete the year to earn the NCD.

Unless you've already got 5+ years NCD, try not to hop from one insurer mid-term. And think hard before entering into a contract that you know won't be suitable for you in 6 months time (e.g. if you're changing car to something the insurer won't want to insure or intend to add mods).
 
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