NCB question

SilverSaloon

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hi

can anyone shed any light on this...?

My wife has two No claim bonuses, which she has built up via 2 vehicles.

ALFA is insured (and still currently insured) with 10 year NCB.

W124 was insured 2 years ago with Insurance Company '1' with 5 years NCB

SL was insured 1 year ago with Insurance Company '2' but as its a classic policy the NCB wasnt declared and Company '1' was last company to have it.

SL is now insured elsewhere, again on classic policy with no NCB.

We buy a new car (Pajero). Want to insure it using the NCB of 5 years from company 1, with company 1 again.

Company 1 says we need to get company 2 to proof there was no accidents and add the NCB to that policy before they can use it.....

i'm confused as if the NCB isnt getting used, and sitting dormant, why do we need to use it? its at 5 years so paid premium on pajero based on 5 years NCB.


why cant company 1 just use whatever they had at the end of that policy as that was the last time the NCB was used and we have already declared no accidents/claims....


?

cheers!
 

GP801

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Unused NCB is normally kept for 2yrs but some will only let it lie dormant for 1yr. Having said that many will provide an "introductory" bonus that is equivalent. If you have a renewal notice from within the last 2 years this should be fine. Any longer than 2 years might be a problem.
 

markjay

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NCB (or NCD) are not what they used to be... Honest John often complains about it.

Insurers now sell 'NCD protection'. So NCD becomes something you just buy, and not an indication to whether you had claimed or not.

So insurers now also ask if you actually had claims, not just NCD. That means you can have perfect NCD, but your premium will still go up because you had a claim...

This is why insurers don't suffice with NCD any more - they want to know that you had no claims, as the NCD could have been purchased through NCD protection and thus it is of not much use to them.

Crazy or what.
 
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SilverSaloon

SilverSaloon

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outcome... the classic policy we had without the NCB is going to add that unclaimed clear onto the NCB and give me proof of 6 years NCB that i can then send to my new insurer.
 

crockers

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Good result. Do they pay you? As in give you a bonus or reduce premium as in a discount.

In other words no such thing as a no claims bonus. It's a no claims discount. :D
 

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