Protection racket

As an insurance broker for 30 years I can confirm that the practice of 'loading' the premium after a claim when you have a protected bonus is becoming more common and it needs to be challenged by the masses. We are actually advising people not to bother protecting NCDs now because you are protecting the discount in name only. This is a phenomenon that has started within the last 12 months.

Asked on 21 November 2009 by

Answered by Honest John

Many thanks. What one hand sells, the other takes away. It is plainly outrageous that a policyholder pays for a protected no claims discount, then finds that, after a claim, his basic premium has risen by more than the protected discount. This needs to be challenged.

Tags: insurance no claims owning

Similar questions

Is there a time limit on making an insurance claim?

My wife reversed her Vauxhall Meriva into a stationary BMW in a supermarket car park in March 2017. Very minor rub marks were left on both cars (I polished ours out). She waited until the owner came out...

Why has the cost of my insurance increased so much?

We recently bought a 2008 Volvo V50 SE Lux as a replacement for my wife’s 1997 Volvo S70 CD. The new car has a 2.4i petrol engine, whereas the old one had a 2.5 turbo petrol engine. I spent many hours...

Why has my van insurance increased this year despite my no claims discount?

My son started a gardening business last year and insured a Renault Kangoo Van for £360. It is his first vehicle despite him being 45 years old. This year we were expecting it to reduce with one year's...