renegotiating insurance contract

Associate
Joined
10 Jan 2006
Posts
483
I have recently found out i had more no claims bonus than i thought i had - which brings my insurance premium down by quite a bit when i get a quote.

Is it possible to renegotiate a contract once i have entered into a contract?
 
Soldato
Joined
9 Oct 2009
Posts
9,223
Location
United Kingdom
Go online. Get some quotes from comparison sites so you have a ballpark figure. Then pick up the phone. Nowadays, I'm very straight to the point. I'll give them the best quote (honestly) I've had and ask them to match. If your trying to adjust midway through your policy it might not be worth it if there is an policy adjustment / administration fee.
 
Man of Honour
Joined
19 Oct 2002
Posts
29,509
Location
Surrey
Definitely discuss with your insurance company. Even if the price doesn't come down then you will end the policy later with the correct number of years. Otherwise those years could be lost and it would affect you for many more years to come.
 
Associate
Joined
7 Aug 2017
Posts
1,730
Location
Oxford
Loyalty is never rewarded when it comes to insurance or utilities. Wait until it's time for renewal and say bye-bye if they don't undercut the lowest offer by 10%.
 
Man of Honour
Joined
26 Dec 2003
Posts
30,837
Location
Shropshire
Last time I tried about 2 years ago I was told ncd cannot be added to an already running policy, in that instance I saved enough for it to be worth canceling the old policy and taking out a new one.
 

mrk

mrk

Man of Honour
Joined
18 Oct 2002
Posts
100,000
Location
South Coast
Why didn't you check full NCD details when you came to renew this last time round? Surely the renewal docs will have stated your current NCD number, to which you could then have shopped around before accepting the renewal premium?
 
Soldato
Joined
1 Mar 2010
Posts
21,781
.. when you take a new contract you have to provide renewal notice/attestation of NCB,
so, if anything, they would be suspicious if additional ncb came out of the woodwork, they'd want proof you had an additional policy on which you had also built up a ncb.
 
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