My insurance isn't due up for renewal until September, but I thought that I would have a look on Compare the Meerkat to see what I would likely be paying.
Hopefully by then I'll have 2 years no claims and I was quoted £680 with Admiral (which is who I am with now).
I decided to see how much of an effect having 5 and 10 years NCB would have, and was surprised to find that I was quoted £650 and £620 respectively (again with Admiral, which remained the cheapest).
I'm a bit disappointed, because I'd always understood that having several years of NCB would bring down insurance considerably, whereas is seems that another 8 years will only give me around a 10% discount.
Obviously I'll be 8 years older too, which I imagine will reduce the premium to some degree, but I expected that another 8 years without a claim would have a very big effect on its own.
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NCB is rapidly becoming something like the 60% off you see in a Debenhams Blue Cross sale. You can normally get the product for the same price elsewhere without the benefit of the "discount".
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I would guess that insurers are now using more sophisticated profiling methods and that previous good claim history does not necessarily reflect the reduced risk of a claim in the future. Yes maybe it says something about your defensive driving technique and exposure to risk in the past, but there is always a random element to accidents.
It maybe interesting if somebody has access to the information relating to time between claims or how the probability of an accident correlates with time since the last event? It could be that after many years of claim free driving, the complacency starts to out weigh the experience?
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Do any more q-jumping round SS and you can kiss your NCB goodbye!
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>> Do any more q-jumping round SS and you can kiss your NCB goodbye!
>>
Am I correctly translating that comment to mean that if you do a lot insurance quote comparisons the system picks it up, recognises you as someone trying to play the system, so starts to load your quotations?
ie people who visit quote comparison sites are statistically more likely to make claims?
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Doubt it.
More likely is that almost any first-yime quote will include a degree of "new business discount" or "online discount" or whatever.
This can be as much as 25-30% depending upon the company/customer.
In turn this means that when you finally get 60/65/70/75% NCD it is comparatively smaller than it should be.
This year, premiums have also gone up, so the OP is probably seeing the general increase of premiums cancel out his/her expected "improved discount".
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>> This year, premiums have also gone up, so the OP is probably seeing the general
>> increase of premiums cancel out his/her expected "improved discount".
I certainly had that happen last year. I had been paying £730 and then when I renewed, I paid almost exactly the same. So, yes, the increase had cancelled out the 1 year NCB (when I checked, I would have been paying about £750 with 0 years NCB).
What I have seen this time is that if I look at what a driver with 2, 5 and 10 years NCB (and everything else the same), would pay *this year* (so controlling for yearly increases) they get very little discount (only £60, about 10%, difference between having 2 years and 10 years).
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>> >> Do any more q-jumping round SS and you can kiss your NCB goodbye!
>> >>
>>
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>> Am I correctly translating that comment
No. It was a jocular reference to SS's other thread about Q jumping.
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My experience is that getting comparison quote well in advance of when you need them is a BAD thing.
They appear to recall you and don't quote such good rates.
Admiral were always v expensive for me - about 50% higher than others iirc.
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>> My experience is that getting comparison quote well in advance of when you need them
>> is a BAD thing.
>>
>> They appear to recall you and don't quote such good rates.
I never give real details, just accurate enough to, presumably, get an accurate quote.
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No claims bonus and insurance premium - CGNorwich
