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NSW No claim bonus question

Discussion in 'Politics, Laws, Government & Insurance' started by mewnz, Jan 2, 2010.

  1. Hi everyone

    I am wondering if you only build your no claim bonus if you have comprehensive insurance? I have a few years of incident free riding (no accidents/no fines) behind me and feel it should count for something, however have only ever had third party property insurance.

    Someone suggested bringing it up while doing the rounds of phone quotes, which I plan to do, but this won't be for a few months. Just curious to see if anyone can give a more concrete answer from personal experience / fountain of knowledge.


  2. I believe you are correct as no claim bonus does not apply to third party property in my instance of insurance with aami for my utility
  3. I'm interested in knowing this as well.

    I believe that no insurance company offers a discount on third party insurance for any number of years of claim free insurance.

    But does a number of years of no claims on a third party property policy mean that a discount can be applied to a new comprehensive policy?
  4. It depends on how well you negotiate with them.
  5. Correct.

    Some companies will, depending on your age, claims history, and how well you negotiate, give you a higher NCB than you would otherwise be entitled.

    Strictly speaking, the "Rules" state that you can only get a higher NCB (eg. from rating 6 to rating 5) by holding comprehensive insurance for 1 year without making a claim. Everyone starts on rating 6 which is 0% NCB (unless your good at negotiating). I got a rating 5 when I was 18 with a certain insurer cause my mum and dad had been with them for 30 years with no claims.

    Point of the story is, put your negotiating hat on, and your first stop should be your current insurer, cause if anyone will do it, it will be them! :)
  6. If you insure with the same insurer they'll normally accept it. But ditto as with what everyone else says. I'm a defensive driving instructor, and as such I always push them on it, and get a reasonable discount as a result. If you aren't happy with the answer, ask the person on the phone to go check that they can't do any better.
  7. I first purchased full comp when I got my current bike. I rang my insurance company and asked what rating they would give me and they said rating 1 (given donkey's years of claim free history on 3rd party). I had them put that offer in writing for me which I then used to get Rating 1 from a much more affordable insurance company. :)
  8. It used to be that every 2 years of third party counted as 1 year of comprehensive as far as your rating went. Unsure whether that still stands these days.
  9. ... and how lucky you are. After getting my driver's licence my dad listed me as an occasional driver on his comprehensive policy. This went on after getting my first car then when the time came for me to get a new car and a comprehensive policy of my own I heard a lot of things. AAMI said they'd give rating 1 due to my driving record. I didn't have to sell it to them very much at all. They actually asked me the questions then said they can do it. Maybe I got lucky with whoever I spoke to that time because I tried calling back afterwards, got someone else and was told rating 2 was the best I could possibly hope for. In between those two calls to AAMI, the others I tried ranged from rating 3 to 5 because I was starting out for myself even after I brought up my driving record then said AAMI would offer me rating 1. The difference between AAMI's quote and NRMA's was huge.

    If you can show that you generally keep out of trouble and aren't such a huge risk then they can give you a better rating if they want to. Ring around and try whoever you can think of and go with whoever gives you the best deal. Good luck.
  10. When I called swan, the four previous years of third party insurance had me at a rating two - this year, it should go to a rating one. But as kish has said previously, it all counts for shit - you can be a rating one for life and they still increase your premium if you have an at-fault.