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[r1]

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.

[Crazycarzowner]

In short, it means both parties will be to blame & the insurances will split the costs 50/50. Even if your Mrs has got protected no claims it WILL mean your next premium will go up - due to being more of a risk! (that's what I was told when my Mrs had a bump last year, even though she wasn't to blame AND all costs were recovered).

[Entwood]

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

[Andy B]

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 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

I think you'll find that they just make it up anyway regardless of claims or not. My daughter's car insurance is due soon and they sent out a renewal quote for £525. She had a look on the interweb at comparable companies to see what they wanted ..... generally £350-ish and then phoned her company to tell them to try again. They did and quoted about £375.

WTF couldn't they have quoted £375 in the first place without all the pretence of adding discount for this that & the other etc etc It's a legal requirement, they know it so they take the pi$$ 

It's one of the big names .... can't remember which one

[r1]

ok thanks

[TheBoy]

Yes, expect premiums to increase (and they look to be increasing anyway), but fairly dramatically, as statistically, following one bump, you're more likely to have another.

The protected NCB will take the sting out of it, but it will still be quite a hike


As to high renewal, that's because a fair number of people are too lazy to do much about it, so the renewals come in high.  Same with breakdown etc - but a quick phonecall should get breakdown at significantly less than the "new customer special price" if you haven't used it.

[Crazycarzowner]

As to high renewal, that's because a fair number of people are too lazy to do much about it, so the renewals come in high.  Same with breakdown etc - but a quick phonecall should get breakdown at significantly less than the "new customer special price" if you haven't used it.

I had an arguement a lovely discussion with my ins. co. this morning and managed to get nearly £350 off both mine and SWMBO multi-policy 

[zirk]

50/50 means both parties are going to get f£$ked 100% each.

[henryd]

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 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

I think you'll find that they just make it up anyway regardless of claims or not. My daughter's car insurance is due soon and they sent out a renewal quote for £525. She had a look on the interweb at comparable companies to see what they wanted ..... generally £350-ish and then phoned her company to tell them to try again. They did and quoted about £375.

WTF couldn't they have quoted £375 in the first place without all the pretence of adding discount for this that & the other etc etc It's a legal requirement, they know it so they take the pi$$ 

It's one of the big names .... can't remember which one

I agree,totally pisses me off when they do this and why its good to change companies every year to get the incentives as a new customer.Its wrong though and wasn't this way back in the day