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Motor Insurance NCB after minor accident

  • 28-11-2008 10:34pm
    #1
    skywalker_208
    Registered Users, Registered Users 2 Posts: 1,350 ✭✭✭


    I had a little tip a while ago which resulted in a claim against my policy for some minor damage to the other car.
    My premium is up for renewal shortly but I have the option of paying the amount back to the insurance company to restore my no claims bonus etc.
    Think its about 400 quid.

    My question is - would it be worth just paying the 400 quid back to them in the long run and then renewing my policy as normal?
    Or just loose the NCB and pay the policy (which i presume would have no increased because of the claim) ?
    Loosing the no claims bonus wont do me any favours if I want to shop around I presume


Comments

  • #2
    Colonel Sanders
    Closed Accounts Posts: 7,669 ✭✭✭Colonel Sanders


    Some companies will only quote new business if the person has x number of years NCB (it can vary from company to company, some will quote anyone with or withpit BCB)

    How many years NCB do you have? To find out if its worth think about how long it will take you to 'rebuild' your NCB to the level you are at and whether you will save more than €400 by doing so


  • #3
    skywalker_208
    Registered Users, Registered Users 2 Posts: 1,350 ✭✭✭skywalker_208


    4 years NCB i think


  • #4
    IsThatSo?
    Closed Accounts Posts: 988 ✭✭✭IsThatSo?


    Why don't you try getting a few quotes online with your NCB intact and then with your reduced NCB. That should work out how much extra the reduced NCB will cost for the next few years.


  • #5
    Random
    Closed Accounts Posts: 19,080 ✭✭✭✭Random


    IsThatSo? wrote: »
    Why don't you try getting a few quotes online with your NCB intact and then with your reduced NCB. That should work out how much extra the reduced NCB will cost for the next few years.
    What he said. Won't be 100% accurate but it'll be dam close.


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