crockers
MB Enthusiast
- Joined
- Mar 30, 2007
- Messages
- 7,097
- Location
- North Wilts
- Car
- XC60 MY2014 SeLux Nav plus lot and lots of toys...
I read on here people saying they are making a claim and it won't affect their protected NCB. Let's put this right
Firstly it's a Discount not a Bonus.
Secondly a claim (if unrecoverable) WILL affect your renewal.
For example. Let's say your annual premium is £1000 and you have a 60% protected NCD so you pay £400. You make a non recoverable claim.
Upon renewal your base premium WILL be loaded - let's say 20%. Your new base premium is now £1200 upon which your protected NCD of 60% is applied. So your new premium will have gone up to £480.
If you decide to transfer your business you have to declare the claim. You will very unlikely be granted full NCD so you may well find yourself stuck with your existing insurer (who knows this when quoting renewal).
I just wanted to make everyone aware that a protected NCD isn't protecting the premium only the DISCOUNT.
Firstly it's a Discount not a Bonus.
Secondly a claim (if unrecoverable) WILL affect your renewal.
For example. Let's say your annual premium is £1000 and you have a 60% protected NCD so you pay £400. You make a non recoverable claim.
Upon renewal your base premium WILL be loaded - let's say 20%. Your new base premium is now £1200 upon which your protected NCD of 60% is applied. So your new premium will have gone up to £480.
If you decide to transfer your business you have to declare the claim. You will very unlikely be granted full NCD so you may well find yourself stuck with your existing insurer (who knows this when quoting renewal).
I just wanted to make everyone aware that a protected NCD isn't protecting the premium only the DISCOUNT.