What is it with Insurance companies and NCD?

[cosmarchy]

Hi,

 

I have bought my NCD of 9 years across from my previous insurer to my current one.  In order to maintain my NCD to take to the next provider, I wanted to provide the new company with my proof so that at the end of this year (all barring anything that effects the NCD) I'll have 10 years.  The current provider only recognizes 6 years so they said they'd issue me with proof of maximum 6 years which is all they recognize.

 

I explained to them that by doing this, they are removing 4 years from my NCD which I could take to another provider which recognises more than their 6 years.  They said that I'd still have my 9 years NCD my previous insurer.  Since insurers ask for the NCD from the previous insurer I cannot give them anything other than 6 years.

 

Has anyone had any experience of getting through to the insurance companies?  I've clearly accrued multiple years from insurance companies to get the 9 years and I've had this in the past where previous insurers have said that although they only recognize x years, they'll acknowledge I had more years NCD.

 

Does anyone know what to do?

 

Thanks

[unclebulgaria67]

This is standard practice in the Insurance industry.

 

The latest Insurers will only provide proof up to their max number  of years.

 

So you send the latest proof to any new Insurer, together with a copy of the previous Insurers proof,  just in case any new Insurers offer any further discount beyond 6 years.

 

When you complete any websites with no claims information, you can still enter 10 years, if you have not had claims for 10 complete policy years. And send the proof with an note explaining what has happened i.e., last company only provided proof for 6 years as that is their max etc.

[cosmarchy]

14 minutes ago, unclebulgaria67 said:

This is standard practice in the Insurance industry.

 

The latest Insurers will only provide proof up to their max number  of years.

 

So you send the latest proof to any new Insurer, together with a copy of the previous Insurers proof,  just in case any new Insurers offer any further discount beyond 6 years.

 

When you complete any websites with no claims information, you can still enter 10 years, if you have not had claims for 10 complete policy years. And send the proof with an note explaining what has happened i.e., last company only provided proof for 6 years as that is their max etc.

 

I understand the companies sending up to the max number of years, but it gets out of hand years down the line where I have to send the NCD for 6 years, then notes for each subsequent year when the previous insurer could just accumulate the total and let the next insurer decide how many they'll offer discount on.

 

The other issue is unless the insurers provide you with up to date NCD, how on earth do you keep track of it when it exceeds the current insurers max level...

 

Clearly a ploy by the insurers to deny peoples NCD once they've accrued too much forcing them to pay more by penalizing them for moving companies.  Disgraceful.

Edited April 11, 2023 by cosmarchy