Hi all

having some problems with my car insurance premium now and i am wondering are there any insurance agents or ppl familiar with calculation of premiums who can give some advice on my case.

I have just switched my insurance company from EQ to AXA earlier this year. My NCD is supposed to be 20%.

When i signed the policy, AXA informed that my NCD is freezed at 10% due to a claim against me. My insurance was expiring in a week hence I signed the policy first and made the payment of $1,683.

Thereafter I continue to approach EQ to understand the situation with no reply from them.

A month later AXA informed that the case against me is successful and my NCD is 0%. I had to top up $340, hence premium became $2,023.

I decided to contact EQ's management directly and finally i got a reply that there is actually no claim at all. Subsequently they contacted AXA to restate my NCD to 20%.

I just received a refund of $428 to restate NCD from 0% to 20%. Premium is now $1,595

My question is...is the refund reasonable? I have called AXA and all they tell me is that they use a special spreadsheet to calculate and they cannot disclose it to me. What makes me think the refund is too low is coz:

1) Premium difference between 10% NCD and 0% NCD is $340
but
2) Premium difference between 20% NCD and 10% NCD is $88

The customer service mentioned that it is due to base premium difference
0% - $2,318
10% - $2,227
20% - $2,111

The base premium difference between 0 and 10% NCD is $91 and i was asked to top up $340.
Now the base premium difference between 10% and 20% NCD is $116 yet 20% NCD gross premium is only $88 cheaper than that of 10% NCD.

Is this normal?

Hope the way i have illustrated my doubts above is not confusing.

Thanks