my mrs had a bump a couple of weeks ago she says one thing the other person says another thing there are no witness my mrs insurance says it might end up as a 50/50 claim how will this affect renewal? she has protected no claims.
"Protected no claims bonus" is very simple, but is usually totally misunderstood, as the premium WILL rise due to a higher risk level .... I'll try and explain it simply using example figures that will not be anywhere near your true quotes !!
Let us assume that due to the car you drive, where you live, where you park the car overnight, etc, and your accident record your base annual premium is £500
Let us also assume you have a "no claims bonus" of 50% .. so your premium last year was 50% of £500 = £250
You have just had a claim, which "should" reduce your no-claims bonus to 0% with some companies or to 30% /40% with others .. they all vary
Your history has changed due to the incident ..you are perceived to be more of a risk ... so your base premium rises to £700 and depending how much no-claims you lost your premium will rise to either £700 or something less.
but you paid for "
protected" no claims bonus .. so
it stays at 50%, you do not get penalised for the accident,
in relation to your no claims bonus, HOWEVER ....
your base premium goes up to £700 .. your "bonus" stays at 50% .. so you have to pay £350 ... an actual increase of £100 ... which is a lot better than the increase of £700-£250= £450 it could have been if your bonus dropped to zero for the claim ..
and that is just this year.... next year you still have 50% instead of 10%, the year after 50% instead of 20% etc etc .. so the "protection" is actually saving you money for the next 5 years, and maybe more if you have another incident ....
HTH