Worth checking when you cancel insurance or change providers

[Hades]

I've just cancelled my insurance and the NCD that was sent to me listed 9 years instead of the 19 that I knew I had. The cause was that I changed company earlier this year. They looked up my NCD automatically and took 9 years (their maximum) instead of the full amount. I spotted it and have sent them proof of my previous 19 years NCD. They are going to generate a manual letter for me confirming that I did indeed have 19 years NCD at the time of cancellation.

So this is just a heads-up to check what the new company holds when you change. It's far easier to just let them look it up but in this case it could have resulted in the loss of 10 years NCD. I appreciate the real world difference between 9 years and 19 years is probably zero for most companies. But it may be relevant to some.

 

[rodenal]

As you've hinted at above - the reality is few insurers even discount 9 years let alone 19, but it doesn't do any harm to have it written down I guess

 

[Semple]

I think the T&C's i read through from Admiral the other day stated they only apply discount to 9+ years.

Would be interesting to know if there are any insurance companies out there who actually calculate a premium based on anything over 9 years.

Also how would any claims affect it, don't you typically lose 2 years for each claim (unless protected). Which would mean the OP could potentially have 5 fault accidents before it would actually start to cost any difference .

 

[Iamzod]

When i worked at Direct Line Group anything over 5 years was pretty much irrelevant. To the point where a fault claim would drop you to 3 years from anything over 5.

 

[smilertoo]

You need to have 9+ years NCD with Admiral before they will offer any discount?

 

[Semple]

You need to have 9+ years NCD with Admiral before they will offer any discount?

Ah badly worded on my bit. I mean 9+ years is the max limit they'd apply discount to. I.e. someone with 20 years would have the same discount applied as someone with 9 years. Then each year less is a certain percentage drop in terms of discount.

 

[theone8181]

TBH i can't remember the last time i had to provide proof (this is with 14 years). I used to have to send a letter off but the last few years theres been no request to do so.

 

[Hades]

TBH i can't remember the last time i had to provide proof (this is with 14 years). I used to have to send a letter off but the last few years theres been no request to do so.

Which is what happened to me this time. That's why they defaulted it to 9 years rather than taking note of the actual number.

I doubt it makes much difference but I would still prefer the right number in case it does one day.

 

[LEUVEN]

I got a letter from my insurance company just after taking the policy out a couple of years ago.
They said I actually had 16yrs NCB Instead of the 15yrs I'd put, there was a cheque for £5.64 IIRC.

 

[pastymuncher]

It's worth getting a letter from the insurer you are leaving confirming the number of no claims you have built up. A few years ago I left one insurer for another as I do every year and they wanted proof of the 15 years no claims that I then had. The problem then arose when a insurer I had been with previuosly only acknowledges 9 years max so I had to go back to all of the insurers I had been with for the last several years to get confirmation of how much NCB I actually had. It was a nightmare as I had to get it from one, pass it on to the next and so on. Some of them were being "difficult" as well and I had a deadline to hit or my premium with the new insurer would increase. Ever since then I ask every insurer that I leave for a confirmation later of my full NCB that I have built up.