Protected No Claims bonus

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jimdem

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I recently had a claim against my policy (my wife was driving at the time). I had paid extra for No Claims Bonus protection. I've just got a hefty quote from my insurance company. Can I move to another company and keep my full NCB?
 
jimdem said:
I recently had a claim against my policy (my wife was driving at the time). I had paid extra for No Claims Bonus protection. I've just got a hefty quote from my insurance company. Can I move to another company and keep my full NCB?
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Unfortunately I fear the answer is no. I have this dispute with my broker at renewal time each year. He tries to sell a policy based on a protected NCB for an additional charge of course. It's only "protected" with the company you have your policy with. They can quote you as they like (and they have done in your case) and still tell you that you have your full NCB. If you go to another company and complete a proposal form, one of the first questions you will be asked is if you have had claims / accidents within the past 5 years. They don't ask you anything about having a protected NCB with the last company! You must of course answer truthfully and they will quote based on your response.

I wouldn't profess to being an authority on this and I hope that someone else will come along and refute what I have said based on experience. On a more practical note, just be grateful your wife wasn't hurt.
 
I am in the same situation as the OP. I had an accident last year and was liable. But in fairness, they (FBD) are not loading me - nor should they be in the spirit of a protected no claims bonus. At worst, your locked in to your existing insurance company for five years. However, they shouldnt be loading your premium - it should be the same as prior to the accident. I would challenge it and put your query on paper. See what they come back with. After that, i'm not sure where you go from there. I wouldnt mind if you named the insurance company so that i can avoid them in future.
 
If they are claiming to be honoring the no claims protection (i.e. they shouldn't be loading you) then try the following;

Phone they up and give identical details without revealing you already have a policy, if it's lower then ask them to post this to you. Immediatly contact the ombudsman with printed evidence of both quotes and wait for the fun.

I knew someone did exactly this a few years ago and got a call from a very freaked out insurance manager claiming there must have been some miscommunication re the renewal and naturally they wouldn't load since the no claims protection was in place.

Don't stand for it.
 
Thanks for the replies I'll certainly try the second quote
 
Generally, in the event of an accident, most insurers wont quote for a period of 3-5 years depending on the insurance company. The addition of bonus protection varies in its criteria from company to company so its usually better to contact an independant broker as there are many companies that do not deal 'direct' with the public. If your premium is being loaded then it seems you have lost a portion of your bonus for some reason.

Going forward your insurer should be very specific about what your policy covers as making a claim on your policy can affect your premium for the next couple of years but as long as the claim is settled you are not locked into your current insurer so I would still be shopping around if you are not happy. Hope this helps.
 
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