#Car (accident-free) insurance premium upon renewal should be lower?

From my own experience in the car insurance trade since 2008, I noticed that most car owners enjoyed savings on car insurance premium year on year if they are accident-free. However, I still heard many people complaining otherwise. Hence, I decided to do a simple tabulation of my own record to confirm my thoughts.

The above table is a random sampling of the data that I extracted from my records of the car insurance premiums for 2012, 2013 and 2014 (latest). Some of the cars have claim history for the last 3 years but have been accident-free for the whole of the last insured year.

Basically, it is found that majority of the car owners enjoyed savings on car insurance premium upon renewal but for some cars that are maintaining their NCD at 50%, experienced higher premium upon renewal. This may due to the claim experience of the car model population insured under the particular insurer or some other factors like aging, smaller population, etc.

As you can see, the savings are in double digit percentage most of the time if there is an increase of NCD by 10%, and this should be logically so. If your NCD increased by 10% upon renewal but the renewal premium is higher than the previous year, then you should find out why and it is time to look elsewhere for a better deal.

NO ONE WISH TO PAY FOR MORE unless there is acceptable reason.
Agree?
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