Another Insurance question

[Dan-]

This is in my policy wording, does it mean if you go from 2 years ncb to 3 years your renewal is 50 percent cheaper?

No claim bonus​

If a claim is not made under this insurance during the periods shown below, we will reduce yourrenewal premium as follows:

Number of years with no claim Reduction

From 60% to 40%

From 50% to 30%
From 40% or 30% to nil

If two or more claims are made in any period of insurance, you will lose your no claim bonus. If morethan one vehicle is covered by this insurance, we will assess the no claim bonus for each vehicle.If your vehicle is written off, and you transfer the insurance to a replacement vehicle, we will not


​

transfer any no claim bonus unless we agree otherwise.​

One year 30%
Two years 40%
Three years 50%
Four years 60%

If only one claim is made in any period of insurance, and if the terms and conditions do not change, anyno claim bonus which you have earned will be reduced at your next renewal as follows.
​

 

[Sam@NP]

its 50% of your original quote iirc not what you are currently paying

 

[Dan-]

its 50% of your original quote iirc not what you are currently paying

I don't follow...

 

[Sam@NP]

Say the original quote was £1000.

2 years = 40% so you pay, £600
3 years = 50% so you pay, £500 as its 50% of your original quote not 50% of £600

 

[clancy]

quote = £1000
two years 40% discount quote is now = £600
three years 50% discount quote is now = £500

 

[clancy]

lol put the same thing at the same time

 

[Sam@NP]

great minds think a like.

 

[clancy]

agreed

 

[Dan-]

right so i have 2 years ncb and my quote is 2000 when i come to renew it will be 1000 ?

 

[Sam@NP]

What was your quote with 0 years ncb?

 

[Dan-]

Dont know i have just got a policy with this company and i dont think they would quote me with no ncb

 

[Sam@NP]

well your £2000 is 40% of your original quote so your next renewal quote will be a little bit cheaper. A lot more then 1000

 

[clancy]

your original quote is around £3300 then, so with a 50% discount instead of 40% your looking £1600-1700 roughly

 

[Sam@NP]

lol I was going to work it out but after a full day of thermodynamics I couldn't be arsed

 

[clancy]

lol I was going to work it out but after a full day of thermodynamics I couldn't be arsed

that sounds like fun lol, whats that for ? ive got to study hydraulic engineering next year and im not looking forward to it :/

 

[Sam@NP]

Automotive engineering.

 

[Gally]

Bum touching iirc...