How does NCD work
Discussion
I've got many many years NCD but its capped to the max, 6 years or 9 years or whatever the insurance company chooses. However the max is round about 60% discount, Esure who I'm with actually give a couple of percent more the longer you stay with them.
So why is it if I run a quote without including my NCD (because I already use it on an other car) I get a price in the region of £450 per year but if I tell it I have max no claims it only drops to £350. This is with all the insurance companies that give a reasonable quote, not just Esure, they are all in the same ball park.
So what it the 65% a percentage of? Its certainly not the total figure. I remember years ago when I was younger NCD made a massive difference to your quote and you had to try so hard not to have an accident just to try and get the insurance affordable but today it seems it makes hardly any difference at all.
So why is it if I run a quote without including my NCD (because I already use it on an other car) I get a price in the region of £450 per year but if I tell it I have max no claims it only drops to £350. This is with all the insurance companies that give a reasonable quote, not just Esure, they are all in the same ball park.
So what it the 65% a percentage of? Its certainly not the total figure. I remember years ago when I was younger NCD made a massive difference to your quote and you had to try so hard not to have an accident just to try and get the insurance affordable but today it seems it makes hardly any difference at all.
Op when you ran the quote with no NCD you prob still said how many years you have been driving for and that you had no claims in the last 5, so they will have applied a sizable amount of the discount anyway. Norwich union for example would give anyone with 5 yrs clean driving history 55 percent off. (Same as 2 yrs ncd). The discount was roughly 50 percent for yr1 then upto to 70 for 5 yrs so makes a massive difference when starting out.
A totally made-up incentive from many years ago that's got out of hand.
It's interpreted differently depending on who you talk to and it's not centrally regulated as far as I can make out.
It's an absolute pain in the ass for all concerned including the insurance industry itself I should imagine.
It's interpreted differently depending on who you talk to and it's not centrally regulated as far as I can make out.
It's an absolute pain in the ass for all concerned including the insurance industry itself I should imagine.
desolate said:
CoolHands said:
It's a ripoff just like everything else
In what way is it a rip off?What *is* a rip-off, is taking the NCD protection policies they flog. Which notionally preserve your NCD but do nothing to change your revised risk profile.
V8mate said:
It's not a rip-off; it's just a factor.
What *is* a rip-off, is taking the NCD protection policies they flog. Which notionally preserve your NCD but do nothing to change your revised risk profile.
I don't sell private car insurance anymore but when I did NCD protection wasn't a separate policy and it did protect the NCD for that insurer but not the rest of the market.What *is* a rip-off, is taking the NCD protection policies they flog. Which notionally preserve your NCD but do nothing to change your revised risk profile.
Plate spinner said:
Agreed. Insurance really is the most shady industry full of bulls
t and rip off merchants who'll do anything to get your money and everything to avoid paying you out.
What evidence do you have for this? Over the last 35 yrs I've made claims on motor, pet, household and travel insurance. I've never had any trouble getting paid out. Maybe because I told them the truth when I took the policies out and my claims were genuine. t and rip off merchants who'll do anything to get your money and everything to avoid paying you out. TwigtheWonderkid said:
Plate spinner said:
Agreed. Insurance really is the most shady industry full of bullst and rip off merchants who'll do anything to get your money and everything to avoid paying you out.
What evidence do you have for this? Over the last 35 yrs I've made claims on motor, pet, household and travel insurance. I've never had any trouble getting paid out. Maybe because I told them the truth when I took the policies out and my claims were genuine. t and rip off merchants who'll do anything to get your money and everything to avoid paying you out. Obviously one experience with one company, and not for car insurance, but clearly shows they can't all be dicks.
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