CAUTION re: NCBP - Alfa Romeo Forum
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CAUTION re: NCBP

Anyone who has No Claims Bonus Protection beware.

It does not prevent them from putting your premium up because you had an accident. They WILL take into account you had an accident & WILL put up your policy due to this.

Aparently the NCBP only protects the "Bonus" so you still have the same amount of years, But they will load your policy with the details of an accident, & increase your premium accordingly.

OK if you didnt have NCBP then your premium after an accident would probably sky rocket, & with the NCBP the increase is not as much.

But in my opinion, if you are sold NCBP then you are protecting your policy against an increase in premium due to a claim on your policy. It would seem this is not the case. I feel that Chris Knott Insurance have miss-sold extra “peace of mind” insurance.

I recently had an accident 1 day before my renewal. The accident was my fault, so I expected to have to make a claim, as would my “victims”, & would be needing my “No Claims Bonus Protection”.

I had, a week before the accident, agreed with my insurance brokers Chris Knott Insurance, to go ahead with the renewal of my policy with Highway Insurance. Then a week after the accident I received a call from my brokers saying that the insurance company wanted to charge me an extra £120 due to the accident. Hold on, I have NCBP, I should not receive any increase over and above the renewal price already agreed, because I have Paid to protect my no claims bonus.

I raised this with the broker, & they were quite blatant about the increase. They stated that its in the wording of the policy for the No Claims Bonus Protection. Apparently you are protecting your “bonus”, you are not protecting your premium. Now I can understand that a premium cannot be protected, as insurance does always seem to go up. But is this not a case of being completely miss-sold an additional insurance on your insurance policy.

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I think you'll find this is the same for all insurers, mine went up by just over £100 this year following a bump last year.
 
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This also happened to me, no claims stayed at the same year, as i had it protected but the premium for the next year.
As its been said i think its all of them, another money maker at the cost of its customers.
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Even if you have a no-fault accident where they recoup costs from the other party, it still goes up, as it will with any other insurer that you declare your accident history to. Statistics.

What you have protected is the ability to put however many years in the 'no claims bonus' field when applying for insurance - which does have an effect, but is not the only thing that matters.
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Which is exactly why I don't usually have protected NCD - although this year for some reason it worked out cheaper to include it What they also don't tell you is that when you make a claim without protected NCD you don't necessarily lose all 5 years - in fact I lost 2 years when I had to make a claim. Since I've made 1 claim in 12 years I'm confident that I'm in 'profit'.

The thing that annoyed me, was being rear ended while stationary at traffic lights. Fault was admitted by the other party, and all costs were recovered, yet my premium still went up!
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Your No Claims Discount is a percentage of the original Policy price which you get knocked off.

This doesn't change when you have an accident, i.e. you still get a 60% reduction, BUT your policy price will go up.

I was hit by an uninsured driver and had my car written off, I had to i. pay the excess, ii. pay the remainder of the policy off from the payout, iii. have to declare an at fault accident because my insurers couldn't recover their cost from the responsible third party.

If I didn't have NCDP I would have lost it and have to pay 100% of my increased premium, rather than the 40% I'm paying now. (which means it would have gone from £500 pa to over the best part of £1500 (including the premium increase due to the incident) which would have put me out of the ALFA through no fault of my own.

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As everyone else has said, this is standard practice.

I have something like 17 years NCB, but thanks to two non-blameworthy prangs (third party ran into me and my insurance recovered all costs etc) my premium still went up significantly.

Trick is to regularly shop around and jump ship if you feel your premium isn't competitive. New customers often get the best deal, so loyalty not always the best option.
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Totally normal practice. Your bonus is protected but your policy gets loaded
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I know this is an old post but it still comes up on Google so I'd like to address it.

This is standard in the industry. Protected NCB doesn't mean your premium won't rise, it means your discount level will be protected. So, for example, your rate should be £500 but you have 65% discount so you pay just £175.

WITHOUT NCD protection, if you have an accident, that base rate increases to, say, £600 and your discount reduces to, say, 50% so your premium goes to £300.

WITH bonus protection your base rate would still increase but your 65% is unaffected, resulting in a premium of £210.

Hope that explains it. Also remember that we're simply a broker so any premium increase is because the insurer wants it, not us (it's not our decision).

best,
Nick



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Try this one for size.

Local 15 year old chav on pushbike with faulty brakes very nearly ran into the back of me at a give way sign March 2016. He swerved and his arm knocked the corner of my car. He didn't even come off his bike. Zero damage to my car. All caught on HD front and rear dash cam with full sound, so everything can be seen and heard.

However, he became mouthy and refused to give me his details (I wanted to do a close inspection to make sure there was absolutely no marks on my car), and threatened to get his dad to "sort me out". He then rode off. As the incident took place a few hundred yards from my house, and the car would be parked outside, I thought I better report it to the Police just in case he tried to accuse me of leaving the scene, etc.

I also phoned my insurance company for advice, making it clear that it wasn't a claim, that there was no accident, no damage, etc. Fast forward to this week and my renewal premium comes through showing an open claim!!!!! I managed to get them to close it, but they've told me that I've now got a no fault claim against my name!!!!! So even other insurers are bumping their premiums up because of this non-accident. I can't even fill in most quotation forms properly as they ask for details which don't exist (e.g. type of incident, it wasn't an accident or any of the other options, and who was at fault).

How can these cowboys get away with penalising honest people like this (Swiftcover btw).

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Last edited by aureol40012; 17-08-16 at 18:02.
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Quote:
Originally Posted by aureol40012 View Post
Try this one for size.

Local 15 year old chav on pushbike with faulty brakes very nearly ran into the back of me at a give way sign March 2016. He swerved and his arm knocked the corner of my car. He didn't even come off his bike. Zero damage to my car. All caught on HD front and rear dash cam with full sound, so everything can be seen and heard.

However, he became mouthy and refused to give me his details (I wanted to do a close inspection to make sure there was absolutely no marks on my car), and threatened to get his dad to "sort me out". He then rode off. As the incident took place a few hundred yards from my house, and the car would be parked outside, I thought I better report it to the Police just in case he tried to accuse me of leaving the scene, etc.

I also phoned my insurance company for advice, making it clear that it wasn't a claim, that there was no accident, no damage, etc. Fast forward to this week and my renewal premium comes through showing an open claim!!!!! I managed to get them to close it, but they've told me that I've now got a no fault claim against my name!!!!! So even other insurers are bumping their premiums up because of this non-accident. I can't even fill in most quotation forms properly as they ask for details which don't exist (e.g. type of incident, it wasn't an accident or any of the other options, and who was at fault).

How can these cowboys get away with penalising honest people like this?!

That is ridiculous...

insurance companies when dealing with automotive should be regulated as a utility, as it's illegal to drive without insurance therefore compulsory..it is still IMO not well regulated enough, allowing unscrupulous industry ''standard practice'' which all of these f*ckers fall back on when they do something morally , financially and contextually inappropriate .

The perfect example being the above, I also have an ongoing situation from Jan 0f 2015 when my previous GT was written off in the car park at work, despite the fact I wasn't in the vehicle at the time, and there were 200 + witnesses that saw the incident, the third party admitted liability and did not contest this at any point, because the other insurer has failed as of yet to pay out, it shows on my file as a ''fault accident'' my insurer knows it, my previous insurer knows it but until it's resolved I have a total loss as being my fault !!!

when insuring a second car it is an absolute PITA..

The insurance industry needs a good bloody overhaul IMO.

can't come soon enough

It's Busso time ..
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Given that this not a post about Chris Knott Insurance specifically is there any chance of changing the title please?
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Quote:
Originally Posted by ChrisKnottIns View Post
Given that this not a post about Chris Knott Insurance specifically is there any chance of changing the title please?
A reasonable request - now done.
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That's great - thanks very much.

Nick
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