Hi everyone.
This is a strange one. I had to renew my policy, and got a quote without an incident mentioned and another with.
To my horror, the premium increased by £95.
The incident itself led to no claim being made on my policy or the third parties. In addition to this, I have protected no claims discount and and the incident was not my fault.
Can someone enlighten me to the difference in price? And it seems protected no claims is a waste of money as well.
In any case, a letter has gone to the insurance company asking for a clear explanation as I am confused.
Greg
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same thing happened to me two years ago, no fault accident, cost recovered.
when i queried it somewhere, the answer i had was that apparently if you are involved in an accident even if it's not your fault, it statistically makes you more likely to be involved in another one. hence the 'base' premium goes up. the ncd still applies, but after the increase in base premium.
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your 'incident' probably affected your weighting and upped your policy cost - the NCD will still be the same just a higher starting figure.
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This teaches me and maybe others one lesson: a £0 claim actually costs £100. So one really needs to think very hard to make a claim...it might just be a loan where you ultimately pay it back in your premium.
Better than America though: health insurance can cost £2000 per month is I remember rightly from HJ quote.
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Doesn't that kind of defy the whole point of insurance?
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A long time ago, I calculated that a claim would have to be over a 1000 quid to be worthwhile claiming. Based on me having a car and two bike policies.
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