Happy Grumpy Posted October 13, 2016 Share Posted October 13, 2016 About to finish the 2nd year of 1st Class insurance. Won't mention the name, but they are Direct, and in Asia. The quote for the 3rd year states 'No Claims Bonus: 30%' But the quote is only 2.9% taking into account the amount we pay + the deductable. It was the same for the 2nd year and after mentioning it they threw in an extra 500 baht voucher for PTT gas. This year I've been a bit stronger. 'It is 3% less than last year. Where is the 30% NCB?' Where is it? Am I missing something? I've used all my fingers and toes and it is still 2.9% less than last year and it clearly states that on the quote that the NCB is 30% Link to comment Share on other sites More sharing options...
stevenl Posted October 13, 2016 Share Posted October 13, 2016 Without seeing the full calculation/quotation this is impossible to answer. Link to comment Share on other sites More sharing options...
Wiggy Posted October 13, 2016 Share Posted October 13, 2016 I'd guess it's 30% off the full price you'd pay as a new customer, or the maximum they can charge for this particular type of policy/cover. Link to comment Share on other sites More sharing options...
steve187 Posted October 14, 2016 Share Posted October 14, 2016 did you have any NCB last year, maybe 25% last year and 30% this Link to comment Share on other sites More sharing options...
Happy Grumpy Posted October 14, 2016 Author Share Posted October 14, 2016 ^^ Nope. Taking what was paid as a new customer 2 years ago as 100%, the 2nd year was discounted 3%, now this quote for the 3rd year is 3% of that again. ^ Last year was 3% cheaper than the first year. It also stated 'NCB: 30%'. Link to comment Share on other sites More sharing options...
Wiggy Posted October 14, 2016 Share Posted October 14, 2016 (edited) 41 minutes ago, Happy Grumpy said: ^^ Nope. Taking what was paid as a new customer 2 years ago as 100%, the 2nd year was discounted 3%, now this quote for the 3rd year is 3% of that again. ^ Last year was 3% cheaper than the first year. It also stated 'NCB: 30%'. It's time to shop around. Edited October 14, 2016 by Wiggy Link to comment Share on other sites More sharing options...
KittenKong Posted October 14, 2016 Share Posted October 14, 2016 1 hour ago, Happy Grumpy said: ^^ Nope. Taking what was paid as a new customer 2 years ago as 100%, the 2nd year was discounted 3%, now this quote for the 3rd year is 3% of that again. ^ Last year was 3% cheaper than the first year. It also stated 'NCB: 30%'. So your NCB has stayed the same from last year at 30%? Did you make any claims? My bonus goes up every year if I dont claim, and my premium decreases. But the cost of insurance also rises every year, so even if you do get an extra 10% NCB the net result will not reduce by that much. Another part of the calculation is that the sum insured decreases every year along with the age and value of the vehicle, which should also result in a decrease in the premium. Link to comment Share on other sites More sharing options...
Happy Grumpy Posted October 14, 2016 Author Share Posted October 14, 2016 And the answer is in.......... Despite listing it as 30% on the quotation, it is in fact only 3% because "xxxxxthb is the lowest premium follow OIC (Office of Insurance Commission) legal. " Link to comment Share on other sites More sharing options...
KittenKong Posted October 14, 2016 Share Posted October 14, 2016 How much do you pay? What vehicle? I've never heard of this "legal minimum", and my NCB is higher than yours. Link to comment Share on other sites More sharing options...
Happy Grumpy Posted October 14, 2016 Author Share Posted October 14, 2016 1 hour ago, KittenKong said: I've never heard of this "legal minimum" Exactly. Legal minimum my ring. Link to comment Share on other sites More sharing options...
naboo Posted October 14, 2016 Share Posted October 14, 2016 AXA have sent me a renewal for exactly the same premium I paid last year, 50,000B reduction on the theft cover. No claims in the last year. Sitting tight, a couple of weeks to go until renewal, see what they offer closer to the renewal date. Link to comment Share on other sites More sharing options...
Happy Grumpy Posted October 14, 2016 Author Share Posted October 14, 2016 ^ I just started to look at other insurance companies, but you've got to give them your number to get a quote. Then have then calling you every day for 2 or 3 weeks. Screw that. Easier just to roll with it and live in peace. :D Link to comment Share on other sites More sharing options...
stevenl Posted October 14, 2016 Share Posted October 14, 2016 ^ I just started to look at other insurance companies, but you've got to give them your number to get a quote. Then have then calling you every day for 2 or 3 weeks. Screw that. Easier just to roll with it and live in peace. :DJust ask a broker. Link to comment Share on other sites More sharing options...
chiang mai Posted October 14, 2016 Share Posted October 14, 2016 I could never understand the relationship between the no claims period and the price of the policy, it was always broadly about the same every year and no amount of shopping around ever changed that. Every year the value of the vehicle was reduced yet the price of the policy remained very similar, the only way to improve matters is to switch to a non-realer based insurance policy. Link to comment Share on other sites More sharing options...
KittenKong Posted October 15, 2016 Share Posted October 15, 2016 My premium always goes down every year. Not by the full 10% that one might expect with an increase of 10% in the NCB, but that's because the base premium also goes up with inflation (though this is also counterbalanced by the drop in value of the cover due to the increased age of the vehicle). Link to comment Share on other sites More sharing options...
Dmaxdan Posted October 15, 2016 Share Posted October 15, 2016 I don't take any notice of the renewal invoice that my insurance company sends me. I go and personally see the insurance company rep who works on site at the dealership where I bought my car. What she quotes me is normally between 20-30% less than what is in the letter I have received and that is for an identical policy. I think it's a bit foolish just to go and pay the price in the renewal letter without doing a bit more research first.Sent from my iPad using Thaivisa Connect Link to comment Share on other sites More sharing options...
JaseTheBass Posted October 18, 2016 Share Posted October 18, 2016 Just ask a broker.Indeed.I told mine how much I would pay and what cover I wanted. Easy. Link to comment Share on other sites More sharing options...
Happy Grumpy Posted October 19, 2016 Author Share Posted October 19, 2016 Name of the broker then. Thanks. Link to comment Share on other sites More sharing options...
JaseTheBass Posted October 19, 2016 Share Posted October 19, 2016 Name of the broker then. Thanks. The last time I did that (via PM) I was accused of promoting myself despite having nothing to do with him. Link to comment Share on other sites More sharing options...
Happy Grumpy Posted October 20, 2016 Author Share Posted October 20, 2016 18 hours ago, JaseTheBass said: The last time I did that (via PM) I was accused of promoting myself despite having nothing to do with him. OMG! How distressing. Are you okay now? Link to comment Share on other sites More sharing options...
JaseTheBass Posted October 20, 2016 Share Posted October 20, 2016 OMG! How distressing. Are you okay now? Nothing a few weeks of therapy can't fix.CNX Insure is the broker I use. Link to comment Share on other sites More sharing options...
OMGImInPattaya Posted October 23, 2016 Share Posted October 23, 2016 On 10/19/2016 at 9:34 AM, Happy Grumpy said: Name of the broker then. Thanks. There are brokers who are forum advertisers...turn off your ad-blocker. Link to comment Share on other sites More sharing options...
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