Insurance question (1 Viewer)

[ourcampersbeentrashed]

so we have chosen our second car.

contacted the insurers and find out that we get a 2nd car discount - brilliant.

So can someone explain no claims bonus.

Why is it you can build up 9 - 15 years no claims bonus but that any discount etc only applies to up to 5 years.

Okay I said so as there is excess lets split it across the two vehicles - oh no you are not allowed to do that.

It should then follow that if you have loads of no claims bonus and dont protect it, that if you have a fault claim, that your insurance should knock of a few years and the premium not change.

Well apparently that is not correct either. The insurance premium will go up after a fault claim.

Am I thick????

Am I missing something???

Now the wonderful trackers/alarms we have on the motorhome meant a substantial reduction on our motorhome insurance.

Fitting the same systems to our new car will reduce our insurance by???????

just £20

I am now very confused.

 

[DuxDeluxe]

Gail, if it is any consolation, I don't understand it either - the only thing I do know is that the insurance companies use every excuse to put the premium up whenever they can.:Angry:

 

[Red Sonja]

Gail

Some companies will mirror the discount on the second car. I believe Saga mirrored the NCD for Kevin when we got another car. On renewal we changed to a cheaper company and protected the Non Claims Discount.

Sonja

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[Ed Excel]

so we have chosen our second car.

contacted the insurers and find out that we get a 2nd car discount - brilliant.

So can someone explain no claims bonus.

Why is it you can build up 9 - 15 years no claims bonus but that any discount etc only applies to up to 5 years.

Okay I said so as there is excess lets split it across the two vehicles - oh no you are not allowed to do that.

It should then follow that if you have loads of no claims bonus and dont protect it, that if you have a fault claim, that your insurance should knock of a few years and the premium not change.

Well apparently that is not correct either. The insurance premium will go up after a fault claim.

Am I thick????

Am I missing something???

Now the wonderful trackers/alarms we have on the motorhome meant a substantial reduction on our motorhome insurance.

Fitting the same systems to our new car will reduce our insurance by???????

just £20

I am now very confused.

I wouldn't want to give the impression I am an insurance company 'hugger' Gail, but, NCD is limited to 5 years, equating to 70% discount, because, if they carried on discounting through 9 years you'd end up paying nothing, God forbid. Some give an extra 1% each year after five up to a maximum of 75%.

You may have been driving for nine years but you've only been attributed 5years NCD. Anything over five years can't be called NCD because discount is not offered, you've just had nine consecutive years driving. So there is no excess to use or lose. Some companies will mirror discount, as has been said.

Insurance only mitigates the cost of replacement/repair for us. The insurers will recover their outlay through all of our premiums.

Is the substantial difference between savings with a Tracker not due to the substantial difference in value of the two vehicles.

I think some of the issues we have with insurers come from not using Brokers these days. Insurance is so complicated I get very frustrated at renewal time whatever I'm trying to cover.