Insurance - FYI

GeoffCapes

Member
Messages
14,000
My 4200 was my first '2nd car' so had no NCB. When my insurer went bust in October I had to insure it again, without any NCB accrued.
When I changed the policy to the GT, the premium went up £83. To the princely sum on £671. And thats with 10k mileage limit.

Not bad I don't think for zero NCB. Albeit, I haven't had a claim for 7 years, and 16 months ago I got rid of 6 points. (apparently they keep them on record for 6 years now!).

A-Plan insure both my cars as they seem to get the best prices for me.
 

hoyin

Member
Messages
1,842
Is having NCP worth it? Does having years of NCB make any difference?

I've found that even if I have NCB and there has been a claim and I haven't lost my NCB my premium still went up. Nothing was "protected".

I would be interested to know what difference it really makes and whether it is worth paying so much to have it protected year after year.


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Needamaser

Member
Messages
1,491
Is having NCP worth it? Does having years of NCB make any difference?

I've found that even if I have NCB and there has been a claim and I haven't lost my NCB my premium still went up. Nothing was "protected".

I would be interested to know what difference it really makes and whether it is worth paying so much to have it protected year after year.


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With protected bonus you wont lose any of it after one claim. Depending on company you may see a reduction on second claim in say 3 years.
Any claim reported (whether a payment made or not) will probably attract a loading. Without protected bonus you get the loading and a reduced discount from say 60% to 40%.
Short answer is see what the difference in cost is between with and without and decide if you think it is worth paying that amount. If difference is £10 I would pay it and if it is £100 I wouldn't. Policies that have protected bonus will now automatically have that information included in your paperwork at renewal time from now on so you can make that decision.
 

CatmanV2

Member
Messages
48,547
Just because you don't lose the bonus doesn't mean your premium won't go up. It's, as far as I can tell, completely opaque and the inscos can pretty much charge whatever you're willing to pay with the 'It would be more if you had less NCB' rider.

C
 

Needamaser

Member
Messages
1,491
Just because you don't lose the bonus doesn't mean your premium won't go up.
C

Reporting a claim will almost certainly put the premium up. That is independent of the no claim bonus reducing or not.
Also bear in mind that having a full protected bonus with your present insurer doesn't mean if you go elsewhere at renewal that the "new" company will accept you with full or protected bonus.
That guarantee only applies to your present company.
 

CatmanV2

Member
Messages
48,547
Reporting a claim will almost certainly put the premium up. That is independent of the no claim bonus reducing or not.
Also bear in mind that having a full protected bonus with your present insurer doesn't mean if you go elsewhere at renewal that the "new" company will accept you with full or protected bonus.
That guarantee only applies to your present company.

But what exactly are the present company guaranteeing? A fixed percentage of a number that's pretty much made up...

C
 

hoyin

Member
Messages
1,842
But what exactly are the present company guaranteeing? A fixed percentage of a number that's pretty much made up...

C

My point exactly.

And how often do you stay with the same insurer year after year??

If I swap to another provider I get a better deal anyway!

I need to do more research but I feel like I am just paying to protect nothing quite frankly.


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philw696

Member
Messages
25,114
That's what we were all told when we first started out.
Riding
Driving
Women
Drinking and the list goes on :)
 

Marco07

Member
Messages
373
Give classicline a call. They listen and are proper car people. I've 8 cars, 2 motorbikes and a car trailer insured with them with agreed valuations and unlimited mileage and EU breakdown cover for a little over £3k. Superb value and nice to deal with.
 

ManInBlack

New Member
Messages
105
Just about to renew with quotemehappy 2006 QP Executive GT. 5000 miles pa 6 years no claims 2 cars on multi car policy....£264. With wife on policy!
 

hoyin

Member
Messages
1,842
Can we close this thread! It makes me weep every time someone posts on it and I get a notification.


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hoyin

Member
Messages
1,842
Just about to renew with quotemehappy 2006 QP Executive GT. 5000 miles pa 6 years no claims 2 cars on multi car policy....£264. With wife on policy!

That is ridiculous. It costs me about the same to insure my bicycle and I do my mileage than that as well per year!


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