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Why has my insurance company reduced my protected no-claims discount?
Recently my car's insurance was due and I was horrified at the hike in premium. I decided to change to another company who asked for evidence of the seven years' no-claim bonus that I declared. When I went back to my previous insurer it insisted that I had had only six years since a claim was made in the year 2010. I felt unhappy about this as I had paid a premium for no-claim bonus protection. Do you think I have reasonable grounds to request a refund of the protection premium paid or is my previous insurer correct in recognising only six of the seven years?
Asked on 23 February 2013 by PA, via email
Answered by
Honest John
NCD Protection is impossible to understand because it does not actually mean what you think it means. In fact, all it means is that the ‘discount’ is protected for that particular policy. The premium can still go up as the result of a claim but the 'discount' is protected, making a nonsense of the whole thing. It does not earn no-claims entitlement to pass on to another policy, so you were quite lucky to get a six-year NCD if you had a claim in 2010.
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