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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.
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