Car Insurance Advised Needed

[Skywalker]

Was involved in accident claim, and expected premium went up upon renewal.

 

Some advised required,

 

1. Is it true that if I have no claim for the next 3 years, my premium will "reset" back to "clean" record? (usually online quotation will ask whether you have claim for passed 3 years).

2. What's the yearly reduction rate of my new premium if I have no claim moving forward? (I still maintain my 50% NCD as I purchased NCD protection).

3. If I were to transfer car ownership to my wife, and add me as named driver, will the premium take into consideration of my history?

 

Thank you

[Keenblade]

Hopefully with the new system, they will see that your accident was really an "accident" but confirm the price will rise up again. The only vague promise as to how much it will drop back down is perhaps that after 3 years, it'll return to your current price with it confirm going up next renewal.

 

Transferring ownership will then see the NCD/record of your wife.... though if you were to be entered as a "named driver" then the premium will shoot up. So weigh carefully if the loss of your own NCD by not renewing is worthwhile the possibly slightly lower price in the short run by transferring.

 

With a 50% NCD still in place, it might be more worthwhile to bite the bullet and tough it out over three years.

[Santafe]

Hopefully with the new system, they will see that your accident was really an "accident" but confirm the price will rise up again. The only vague promise as to how much it will drop back down is perhaps that after 3 years, it'll return to your current price with it confirm going up next renewal.

 

Transferring ownership will then see the NCD/record of your wife.... though if you were to be entered as a "named driver" then the premium will shoot up. So weigh carefully if the loss of your own NCD by not renewing is worthwhile the possibly slightly lower price in the short run by transferring.

 

With a 50% NCD still in place, it might be more worthwhile to bite the bullet and tough it out over three years.

 

well said....I agree too.

[Lancelord]

Hopefully with the new system, they will see that your accident was really an "accident" but confirm the price will rise up again. The only vague promise as to how much it will drop back down is perhaps that after 3 years, it'll return to your current price with it confirm going up next renewal.

 

Transferring ownership will then see the NCD/record of your wife.... though if you were to be entered as a "named driver" then the premium will shoot up. So weigh carefully if the loss of your own NCD by not renewing is worthwhile the possibly slightly lower price in the short run by transferring.

 

With a 50% NCD still in place, it might be more worthwhile to bite the bullet and tough it out over three years.

so what u r saying is that the premium will go up in 3 yrs and will return to normal current after it?