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Stepped-back NCB question

  • 15-10-2014 10:03am
    #1
    Dial Hard
    Registered Users, Registered Users 2 Posts: 14,234 ✭✭✭✭


    Morning All

    Did a quick search and couldn't see anything so apologies if this has been done to death. My current policy is up for renewal at the end of the month and I'll be shopping around various insurers before I renew.

    There's something I'm curious about, though - I had 9 years' NCB until this July, when I was involved in a fender bender. I had step-back NCB protection on my policy, so I've now stepped back to 4 years on the NCB scale (58% with my current insurer).

    I'm unsure how this applies to other insurers when I'm getting quotes - am I considered to have four years' No Claims Bonus, or does it only apply to my current insurer?

    Thanks a mill.


Comments

  • #2
    bazz26
    Registered Users, Registered Users 2 Posts: 51,363 ✭✭✭✭bazz26


    Your NCB discount is reduced irrespective of which insurance company you go with. Your updated NCB should listed on your NCB schedule that accompanied your renewal quote from your current insurance company.


  • #3
    mgbgt1978
    Registered Users, Registered Users 2 Posts: 4,261 ✭✭✭mgbgt1978


    AFAIK the step-back no claims bonus would only apply with your current insurer.
    Look at it this way. If you had full no claims protection and a claim was made why would another insurer then allow you a full claims discount.


  • #4
    ThisRegard
    Closed Accounts Posts: 27,833 ✭✭✭✭ThisRegard


    Has has been said, your step back only applies to your current insurer. Others will see you with a 3 or 4 year NCB but will also see your claim which will negate that.

    Also, I see people saying they have 8, 9, 10 years whatever NCB. You don't. You may have that many years claims free driving, but with most insurers the NCB tops out at around 5 years.


  • #5
    mgbgt1978
    Registered Users, Registered Users 2 Posts: 4,261 ✭✭✭mgbgt1978


    ...and don't forget that your NCB is only a discount taken off your initial premium.

    Your insurer can always decide that your next premium is €4,500 ( because you are now a bigger risk) and give you a discount of 40% of that. Unlikely I know for it to be that high but it just shows you that no matter what your NCB is, it's still your initial premium cost that's the real issue.


  • #6
    Dial Hard
    Registered Users, Registered Users 2 Posts: 14,234 ✭✭✭✭Dial Hard


    mgbgt1978 wrote: »
    ...and don't forget that your NCB is only a discount taken off your initial premium.

    Your insurer can always decide that your next premium is €4,500 ( because you are now a bigger risk) and give you a discount of 40% of that. Unlikely I know for it to be that high but it just shows you that no matter what your NCB is, it's still your initial premium cost that's the real issue.

    Yeah, I know that; I already have my renewal premium.

    Anyway, thanks for all the answers, folks, looks like I'm stuck with my current insurer.


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