How do I get proof of my no claims bonus for my insurer.I change to diffirent insures every year.Cheapest quot

Question

How do I get proof of my no claims bonus for my insurer.I change to diffirent insures every year.Cheapest quot

Answer 1

Your previous insurer should tell you in writing.

Answer 2

It's generally not a good idea to change insurers every year, unless you are sure you are getting equivalent or better cover from the new insurer, or if you are unhappy with the level of service provided by your existing insurer.  Also, in some cases it can look suspicious if you switch frequently.  

However, if you insist on switching, in the UK it is possible to transfer no claims bonus from one insurer to another.  You have to ask them to send you a no claims bonus certificate, which you should then send to the new insurer.

As an aside, there are 2 main reasons why insurance companies aren't keen on the idea of customers switching every year: it costs on average 4 or 5 times as much to aquire a new customer than to retain an exsting one.  Also, the future underwriting results are made more predictable if the underlying portfolio of risks remains fairly constant.  It follows therefore that if an insurer is losing a substantial proportion of its policyholders each year and replacing them with others, there is an increased volatility in the whole portfolio of business.  

Therefore, if you keep switching insurers every year, it will probably lead to higher premiums in the long term.

Answer 3

it's probably no claims with THEM, so you have to stay with that company a number of years - why should they give you a bonus if you aren't going to be loyal to them? I wouldn't. Just because you had no claims with other insurers doesn't mean anything to them - they are looking for people to stay with them a number of years with no claims - that';s how they make money

Answer 4

The company you're getting the new quote from can request a report from your previous insurer's called a " loss runs report", this will verify your claims history.

Answer 5

You just phone your last insurer and they'll send you a copy. By law theve got to do this.

Answer 6

You should not be jumping insurers like that. You will get black-balled at some point and then you will not be able to get insured. Stick with a company for at least 4-5 years, then look at quotes.