The carrot is 10% of the premiums paid over the 3 years ( as far as I can tell).........and I share your cynical take. Thanks for taking the time to share your view.My (cynical) take on it is they want to lock clients into a 3 year renewal cycle with a carrot.
But how big the carrot might be isn't known as far as I can tell.
I've conditioned myself to an annual shop around, and at this stage I don't see myself changing that habit for an unquantifiable reward.
The carrot is 10% cash back after 3 years claim free (not over).The carrot is 10% of the premiums paid over the 3 years ( as far as I can tell).........
Thank you Des............The carrot is 10% cash back after 3 years claim free (not over).
Your premium might be competitive in year 1. My cynical guess is your premium won’t be competitive in year 2 & 3, you can just move again if that happens.
Hello Brendan............I feel like the scales have fallen from my eyes and I can see how useless protecting a no claims bonus actually is.........it is more of less useless if I have an accident and need to claim. So all my hang ups about paying an extra premium for full protection on a no claims bonsu are baseless. Now I can look on Outsurance and see that its no big issue not having a no claims bonus nor insuring for one. If they rise my premium a lot in yrs 2 /3 I can move and once I've not had any claims I'm good to go with another company.I have never believed in it.
If you want to switch, you have to report the claim to the insurance company you are switching to so the premium will be a lot higher.
Your existing company knows this and lashes up your gross premium so the protection of the NCD is worthless.
Brendan
My experience is the precise opposite.I can see how useless protecting a no claims bonus actually is.........it is more of less useless if I have an accident and need to claim.
No, there was no need to. There was no discernible change in my premium.Hi Tommy
Did you try to switch afterwards?
Brendan
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