Body & Soul0 min ago
Car Insurance Hike
48 Answers
Nissan Tino. Had it for 12 years. Do less than a thousand miles a year.
Insured with Direct Line. Last year £400, this year £550.
Mrs A had a very minor bash in a car park, which the other driver claimed on. So thus, in spite of protected no-claims, premium shot up. (Would have been £750 without the protected NCB!).
What do we do? Living in London, you need comprehensive insurance. Confused's cheaper end is around the £400 mark.
A
Insured with Direct Line. Last year £400, this year £550.
Mrs A had a very minor bash in a car park, which the other driver claimed on. So thus, in spite of protected no-claims, premium shot up. (Would have been £750 without the protected NCB!).
What do we do? Living in London, you need comprehensive insurance. Confused's cheaper end is around the £400 mark.
A
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Allen, according to that document, with a protected NCB and 9 years no claims, with one accident, your NCB is unchanged so you will still get the same discount.
Any increase is therefore market conditions. NCB is merely a percentage discount. If your base premium goes up, and the percentage discount remains the same, then your cost will increase.
Any increase is therefore market conditions. NCB is merely a percentage discount. If your base premium goes up, and the percentage discount remains the same, then your cost will increase.
I tried NFU when our quote went up from £270 to £350 and was quoted over £1,000 by them. When I queried what I thought was a stupid amount the chap on the phone asked me if I actually knew what NFU stood for which to be honest I hadn't really thought of. It stands for National Farmers Union and you will probably get a good quote if you live in the countryside but Manchester, where I live, is a no go area with them. Finally went with LV and very happy with their prices and their service.
I'm not aware of your circumstances but am surprised at even £400 for that car of that age. My last 3 cars have all been slightly 'sporty', over 2000cc, 10K average mileage, business cover, NCB protection and fully comp and I've never paid more than £220 with several companies.
Just commenting, don't really know how it all works.
Just commenting, don't really know how it all works.
You still have to tell your insurance company you've had an accident, even if you don't claim, so your premium might go up anyway. Of course you can choose not to tell them but if, by any chance, they find out they can cancel your policy or refuse to pay out on a claim, which will cost you more in the long run.
That was the point. Mrs A had no choice but to tell Direct Line of the accident (and anyway, as it happens, the third party DID claim against our policy, so any attempt at secrecy wouldn't have worked).
He had a few scratches on his extremely flashy motor - if it had been on our car, we would have ignored it (living in London it's an occupational hazard).
He had a few scratches on his extremely flashy motor - if it had been on our car, we would have ignored it (living in London it's an occupational hazard).
NCB and protection thereof works like this, I will use arbitrary figures as an illustration. Say you have 70% NCB and the base premium is £100, then you will pay £30 + a small amount to re insure against the NCB, say £5 so you will pay £35 for £105 worth of insurance, your £5 is protecting you for a potential hike of £70. Now you claim so you lose the NCB but your NCBP now comes into play and at renewal you get the payout of £65 but that is against the original premium of £100, so now they add on the price rise for that year and the price rise because you are now a higher risk, say £10 + another £5. So the new base premium is £115, less your reinsurance payout of £65 = £50, that's your new premium. Which looks like a hike and it is NCBP only protects the NCB amount from the preceding year.
PS yes they have proportional forfiture and all manner of bells and whistles but the example above is meant to illustrate the principle. The best thing is never claim, for small-medium amounts what with NCB forfiture, price hikes and excess it ain't worth it. In your case I'd have got the other car fixed myself and not mentioned it.
