making a claim with no claims bonus protection

kala85

I was thinking about making a claim on my insurance policy - damaged caused is roughly 800e. I have no claim bonus protection on my insurance. I just want to find out if anybody has any experience of making a claim with no claims bonus protection. Did the insurance increase the year after and would I be able to move insurance companies and have to declare the claim?

MugMugs

kala85 wrote: »

I was thinking about making a claim on my insurance policy - damaged caused is roughly 800e. I have no claim bonus protection on my insurance. I just want to find out if anybody has any experience of making a claim with no claims bonus protection. Did the insurance increase the year after and would I be able to move insurance companies and have to declare the claim?

Your policy will most likely be loaded ie:suffer an increase in premium at renewal less the no claims discount. Will you have to declare the claim? Yes.

awec

This post has been deleted.

MugMugs

awec wrote: »

If you make a claim you will lose your NCB. You will have to declare the claim when you move, they will ask if you have made any claims in the past x number of years. Your current insurer will also not provide you with proof of an NCB as you will no longer have one, and the new insurer will ask for this if you tell them you have an NCB.

This is incorrect. NCB protection will preserve the Ncb....

ThisRegard

Yip, you won't loose your NCB with NCB Protection. However, if you do move to another insurance company they'll take your claim into consideration when getting a quote so you may be stuck with your current insurer for a way in order to get the full benefit of it.

neacy69

awec wrote: »

If you make a claim you will lose your NCB. You will have to declare the claim when you move, they will ask if you have made any claims in the past x number of years. Your current insurer will also not provide you with proof of an NCB as you will no longer have one, and the new insurer will ask for this if you tell them you have an NCB.

Not correct.
I made a claim in March for my Stolen car. My policy was renewed last week and my renewal quote was cheaper that last years. My bonus was fully protected. I am still with the same insurer that I made the claim with.

OSI wrote: »

NCB is a discount taken from the base premium. The base premium however is calculated based on risk, and previous claims/accidents. So if you make a claim, your base premium will be loaded for having made a claim, and then the NCB discount will be applied to that base premium.

So yes, your premium will increase, just not by as much as it would of had you not got NCB protection. Honestly, €800 is not worth claiming for unless you are very stuck.

My Premium was not loaded for my renewal

neacy69

OSI wrote: »

NCB is a discount taken from the base premium. The base premium however is calculated based on risk, and previous claims/accidents. So if you make a claim, your base premium will be loaded for having made a claim, and then the NCB discount will be applied to that base premium.

So yes, your premium will increase, just not by as much as it would of had you not got NCB protection. Honestly, €800 is not worth claiming for unless you are very stuck.

Plus you excess is probably €300

awec

This post has been deleted.

djimi

MugMugs wrote: »

This is incorrect. NCB protection will preserve the Ncb....

This only applies if you stay with the same insurer though, doesnt it? If you move insurer they are not obliged to accept the NCB in light of the claim? Thats my understanding of it anyway.

Also when I had a claim a few years back I had a bitch of time trying to move insurers; most wouldnt touch me until I was three years claim free.

djimi

Also, for €800 Id seriously question if it is worth it. Assuming you have an excess on the policy (it would be unusual if you dont) then you will probably only get maybe €500 from the insurer, so you have to figure out the claim is going to cost you more than €500 in the long run. You also have to question if it is worth the hassle of having a claim against you name for the next few years for the sake of €500. It might be less hassle and potentially less costly to get a credit union loan or something like that to cover the damage.

awec

This post has been deleted.

kala85

ok damage to my car is €500 and the dealer will put on €300 to avoid me having to pay the excess. damage to other car is €800 . I can do without getting my car fixed but need to fix the other party.
Premium is 400e at the moment. When I renew it will if its less than 1200 , then I will have saved money by making a claim or broke even.

ThisRegard

awec wrote: »

I think the way it works is you will lose a certain number of years of NCB. I think when I protected mine the guy on the phone said if I ever claim I'll drop to 4 years NCB?

That's step back protection, slightly different than full NCB protection.

djimi

Your premium is unlikely to jump up 300% so if you have bonus protection and dont mind remaining with your current insurer then it might not be an issue.

You can get a very rough estimate of how much it will increase by using online quotes and filling in your details with a claim. Some online system may not give you a quote but its worth trying to see if you can get an idea of how much it will increase if you claim.

discombobulate

Girlfriend had 3 years ncb and no claims protection. Made a claim 2500 after a car damaged her car while parked and drove away.

Her premium dropped then 2 months Ago at the renewal. Rang around and got it even cheaper again from another.

You could always ring around a couple of places asking for a quote and telling them youve had a claim.

CiniO

I had a claim for a car for few grand after my wife skidded and ended up in the ditch. Car was written off.
I had NCB protection.

On next renewal my NCB was not affected. Premium came cheaper than year before.
My NCB statement said the following:
No Claims Bonus - 5 years (50%).
Years of claims free driving on this policy - 0 years.

I went to broker to look for another insurer, and he said there is very few insurers which will insure me considering there was a claim, and who will also accept my NCB which were protected. But anyway - he found one insurer which would do that, but price was about the same as with my current insurer, so I stayed with the current one.

Only problem is that any other claim within 3 years will cause my NCB to be voided now, so for the next 1.5 years I can't claim.

Del2005

kala85 wrote: »

ok damage to my car is €500 and the dealer will put on €300 to avoid me having to pay the excess. damage to other car is €800 . I can do without getting my car fixed but need to fix the other party.
Premium is 400e at the moment. When I renew it will if its less than 1200 , then I will have saved money by making a claim or broke even.

I don't understand the first line. Are you saying that there is only €500 worth of damage to your car, but the dealer is going to bill the insurance company €800 to cover your excess?

CiniO

Del2005 wrote: »

I don't understand the first line. Are you saying that there is only €500 worth of damage to your car, but the dealer is going to bill the insurance company €800 to cover your excess?

That's how I understood it.
In case of OP I wouldn't rather write it on public forum.

Merch

OP, you might want to check the details of your insurance what it covers and how the insurance company say it will or will not affect things.

I would discreetly record what they say too.

My car was damaged years back (5+ now), hit in car park and the other person drove off, never saw them.
I made an enquiry off my then insurer as i couldnt afford to replace the car, the damage was body work but the cnut managed to hit 3 panels so cost a bit, I guessed the money I would get if it was written off wouldnt buy me an equivalent car.

Insurance company told me I wouldnt be affected (I had full NCB protection) on renewal my insurance was loaded, went up 3 X times what it was, they denied they said it wouldn't be affected, said that I had NCB protection but was loaded.

Needless to say, they had a bit of a reputation I think and are no longer in business.

I left them at the time, informed new insurers of the story and got similar quotes to what i had previously, but it hung over me like a shadow for 5 years and every year i had to disclose it on renewal.
If cost is an issue the other driver may insist on going insurance route.

Also, your insurer may require you to go to their approved repairer, so getting quotes cant be, ahem bumped up in price!