NCD Protector?

[Congo9]

Cannot say it's the biggest con job. It's willing seller, willing buyer. Nobody forces you to get the NCD protector.

 

if they are loading our premium in this manner, they Might as well cut the NCD protector. They might as well give Ncd to 70%t to 80%. Of course you can say it is willing Seller and Buyer with NCD protector scheme. But NCD protector is really a lousy ruse.

[Gnail80]

Hi just to derail abit, if we make claims against other party's insurance, and assuming that its 100% the other party's fault, will it affect my own NCD and premiums?

[Galantspeedz]

I will come back to you when I get the quotation from my insurer.

 

April liao... what was your quote? good?

[Galantspeedz]

what's the difference between

gross 5k premium and 20%ncd

and

gross 8k premium and 50% ncd

[Suv8]

If one is on 50% NCD and met with an accident, the No Claim Discount (NCD) on next renewal of the insurance will be reduced to 20%. It is a drastic cut of 30%. However, if you have NCD protection under your policy, your NCD will not be affected if there is only one claim during the period of insurance.

 

IMHO, it is worthwhile paying additional 10% for the NCD protection. Take my case as example, the Basic Annual Premium for my auto insurance is $2,183.45 (Honda FD2), after 50% NCD and 5% Incentive discount of $54.59, the nett Premium payable is $1,037.13. The NCD Protection payable is $103.71,which is 10% of $1,037.12. Total Premium payable before GST is $1,140.84.

 

I met with an accident a few months back and apart from my own claim, there was also a third party claim against me., If I had not purchase the NCD protector, my NCD will be reduced to 20% when I renew my insurance comes next Feb 2013. Assuming that I had not bought the NCD Protection and let say the Basic Premium remains (with increase) at $2,183.45 in the next renewal, I will only get to enjoy 20% NCD, and my premium payable would be $1,746. 76 (after 20% NCD). But b

[Asure7]

Me also interested.

How much did your premiums increase, even with the NCD protector? :P

[Civic101]

I bought the protector and had a claim of about 20K, premium increased by $480 (61%) from previous year. But I think it was still worth it as if I were to work back using the previous year's premium, without considering any loading, with NCD at 20%, the difference is just a little. Moreover, I asked for comparison quotes from mycarforum insurance service and the advice was to stick with my insurance company as other insurance company's quotes are much higher in view of the claim.

[Suv8]

Me also interested.

How much did your premiums increase, even with the NCD protector? :P

 

i drove a 1.5 honda airwave and paid about $1,000 with 50% ncd and free protector. last year changed to 4.5 years 1.8 old opel vectra and paid about $1,100. I think aunty lucy also gave $50 refund for renewal. I think also got loyal customer discount of 5%. check their web?

 

note- my Airwave was a parallel import with moon roof, so premium was higher. Opel is German, 1.8, so tot premium was ok.

Edited April 4, 2013 by Suv8

[Asure7]

Actually most people are more interested in Civic2000's quote because he got into an accident while having 50% ncd protector.

The question here is whether the insurer will jack up the basic premium first, and then give you back the 50%.

 

As Galantspeedz put it, is there a difference between

 

"gross 5k premium and 20%ncd

and

gross 8k premium and 50% ncd " ?

[Jman888]

i guess it depends on much serious was the 'claim'.

 

i had an accident with self and 3rd party claim total to about $9K, even with ncd protector of 50%+5%, the premium increase by about 40% the next year for my case.

 

however, the following years the premium went back to the pre-accident rate, which mean gone down by the 40% increase.

 

 

Actually most people are more interested in Civic2000's quote because he got into an accident while having 50% ncd protector.

The question here is whether the insurer will jack up the basic premium first, and then give you back the 50%.

 

As Galantspeedz put it, is there a difference between

 

"gross 5k premium and 20%ncd

and

gross 8k premium and 50% ncd " ?

Edited April 4, 2013 by Jman888

[Suv8]

i guess it depends on much serious was the 'claim'.

 

i had an accident with self and 3rd party claim total to about $9K, even with ncd protector of 50%+5%, the premium increase by about 40% the next year for my case.

 

however, the following years the premium went back to the pre-accident rate, which mean gone down by the 40% increase.

 

Yes any premium increase after an accident claim is only for 1 year.

[Ronleo]

If one is on 50% NCD and met with an accident, the No Claim Discount (NCD) on next renewal of the insurance will be reduced to 20%. It is a drastic cut of 30%. However, if you have NCD protection under your policy, your NCD will not be affected if there is only one claim during the period of insurance.

 

IMHO, it is worthwhile paying additional 10% for the NCD protection. Take my case as example, the Basic Annual Premium for my auto insurance is $2,183.45 (Honda FD2), after 50% NCD and 5% Incentive discount of $54.59, the nett Premium payable is $1,037.13. The NCD Protection payable is $103.71,which is 10% of $1,037.12. Total Premium payable before GST is $1,140.84.

 

I met with an accident a few months back and apart from my own claim, there was also a third party claim against me., If I had not purchase the NCD protector, my NCD will be reduced to 20% when I renew my insurance comes next Feb 2013. Assuming that I had not bought the NCD Protection and let say the Basic Premium remains (with increase) at $2,183.45 in the next renewal, I will only get to enjoy 20% NCD, and my premium payable would be $1,746. 76 (after 20% NCD). But b

[Ronleo]

Hi,

 

Recently found out that an insurance company has NCD protector even for pple like me with 30% NCD.

 

Care to share which company?

[Camrycamry]

If you're the middle vehicle in a chain collision, most likely your NCD will not be affected.