Do i lose NCD protection when changing companies.
21 June 2006, 01:27 PM
#1
Scooby Regular
Thread Starter
Join Date: Oct 2001
Posts: 118
Likes: 0
Received 0 Likes
on
0 Posts
Do i lose NCD protection when changing companies.
Had an accident 18 months ago but had protected no claims so did n't effect policy too much. If i swap companies now, will i have full no claims or only 18 months ?
Graham
Graham
21 June 2006, 02:32 PM
#2
Scooby Regular
Join Date: Feb 2006
Location: Anywhere theres Carp
Posts: 368
Likes: 0
Received 0 Likes
on
0 Posts
If I'm not mistaken you will have all your NCB as they were protected, and as for swapping that should be fine you will just have to let your new insurer of the claim, they may charge you a little extra to protect with them though.
21 June 2006, 02:47 PM
#3
Former Sponsor
Join Date: Jul 2005
Location: Essex
Posts: 551
Likes: 0
Received 0 Likes
on
0 Posts
Hi Graham,
Protected NCB is a guarantee from your current Insurer that (normally for a charge/fee/heightened premium) they will not reduce your no claims bonus concession in the event of "X" number of non-recoverable incidents in "X" amount of stipulated years (varies by Underwriter but usually 2 claims in 5 year period).
So, your bonus years/percentage will be confirmed and portable.
If you wish to continue to protect your bonus with other underwriters, you will be subject to their acceptance criteria and will need to request this benefit from all prospective quoting underwriters.
Most Underwriters will usually allow this benefit, but will bring you into their scale and treat the prior claim as a "life lost". Which effectively leaves you in the same position as you were with the original underwriter.
Hope this helps
Kind regards
Tony
Protected NCB is a guarantee from your current Insurer that (normally for a charge/fee/heightened premium) they will not reduce your no claims bonus concession in the event of "X" number of non-recoverable incidents in "X" amount of stipulated years (varies by Underwriter but usually 2 claims in 5 year period).
So, your bonus years/percentage will be confirmed and portable.
If you wish to continue to protect your bonus with other underwriters, you will be subject to their acceptance criteria and will need to request this benefit from all prospective quoting underwriters.
Most Underwriters will usually allow this benefit, but will bring you into their scale and treat the prior claim as a "life lost". Which effectively leaves you in the same position as you were with the original underwriter.
Hope this helps
Kind regards
Tony
Originally Posted by Grahamwrx
Had an accident 18 months ago but had protected no claims so did n't effect policy too much. If i swap companies now, will i have full no claims or only 18 months ?
Graham
Graham
01 July 2006, 09:32 PM
#4
Scooby Regular
Join Date: Jul 2005
Posts: 106
Likes: 0
Received 0 Likes
on
0 Posts
i'm now with someone else, but b4, i was with cis, i had a bump which wasn't my fault. but they fu**ed me about (won't go into that) and registered it as my fault, when i went to get my ncd for renewal and wanted to change companies (which was protected) they said it was only protected through them and i had to pay £260 to pay the other blokes claim to get my full ncd back hence i'm no longer with cis.
09 July 2006, 03:50 PM
#5
Former Sponsor
Join Date: Jul 2005
Location: Essex
Posts: 551
Likes: 0
Received 0 Likes
on
0 Posts
Hi Pete,
Doesnt sound right mate,
1) fault accident or not - protected is protected.
2) As for 'only protected through them', that sounds really sharp practice and they would have had to have made you aware of this when you arranged the policy. Worth checking your policy booklet buddy (assuming you've still got it & didnt burn it at the time)
Ive been working within Insurance for 20 yrs and I have never encountered an Insurer that adopts that approach to Protected bonus.
Overall.. sounds like youve been very shabbily treated.
Kind regards
Tony
Doesnt sound right mate,
1) fault accident or not - protected is protected.
2) As for 'only protected through them', that sounds really sharp practice and they would have had to have made you aware of this when you arranged the policy. Worth checking your policy booklet buddy (assuming you've still got it & didnt burn it at the time)
Ive been working within Insurance for 20 yrs and I have never encountered an Insurer that adopts that approach to Protected bonus.
Overall.. sounds like youve been very shabbily treated.
Kind regards
Tony
Thread
Thread Starter
Forum
Replies
Last Post
Sam Witwicky
Engine Management and ECU Remapping
17
13 November 2015 10:49 AM
