Insurance with NCB

ba_barabus

I'm asking the following on behalf of a colleague.

They bought a nice 2.5TD Jeep however they have no NCB due to a previous accident a few months back, the accident was caused by their partner who was named on the policy.

Anyway they are now unable to get a quote on the Jeep. I've explained their options are to get a quote, find a broker who deals with this, wait until they have 12 months NCB or sell the Jeep.

Can anyone recommend brokers who are good to deal with or offer any further advice if you have dealt with similar.

djimi

What possessed them to buy a jeep without first checking if they can insure it?

Tell them to try ARB; they used to be good for higher risk policies. Other than that Id say some brokers would be their best bet.

djimi

Id say the recent claim is hurting them as much if not more than the lack of NCB btw. A lot of insurers wont want to know you if you have a claim in the past few years (usually 3 years).

oldyouth

What are their current insurers quoting?

ba_barabus

djimi wrote: »

What possessed them to buy a jeep without first checking if they can insure it?

No idea and I'll park this point here as they now know themselves so it won't help them if it's repeated.

djimi wrote: »

Tell them to try ARB; they used to be good for higher risk policies. Other than that Id say some brokers would be their best bet.

Can they contact ARB directly for a quote or do they go through a broker? Can anyone recommend brokers who are good in these circumstances as I don't know any.

djimi wrote: »

Id say the recent claim is hurting them as much if not more than the lack of NCB btw.

Agreed. It is and they've been told this when asking for a quote.

ba_barabus

oldyouth wrote: »

What are their current insurers quoting?

€4000.

djimi

ba_barabus wrote: »

Can they contact ARB directly for a quote or do they go through a broker? Can anyone recommend brokers who are good in these circumstances as I don't know any.

Last time I dealt with ARB I contacted them directly. That was about 2 years ago I think.

oldyouth

ba_barabus wrote: »

€4000.

Now that's where I would start. The current insurer is obliged to provide a quotation but they are not allowed to come up with a figure which is tantamount to a declinature. I would ask them for an exact breakdown on how it is calculated if there are excessive loadings on their base premium, I would head to the Irish Insurance Federation about it. I'm assuming there are not any additional negative underwriting criteria (convictions, previous claims, age etc)

ba_barabus

oldyouth wrote: »

Now that's where I would start. The current insurer is obliged to provide a quotation but they are not allowed to come up with a figure which is tantamount to a declinature. I would ask them for an exact breakdown on how it is calculated if there are excessive loadings on their base premium, I would head to the Irish Insurance Federation about it. I'm assuming there are not any additional negative underwriting criteria (convictions, previous claims, age etc)

I'll pass it on to them and I'm not aware of any other insurance issues but I think they are looking for cover in the very near future rather than a long battle to get it.

djimi

oldyouth wrote: »

Now that's where I would start. The current insurer is obliged to provide a quotation but they are not allowed to come up with a figure which is tantamount to a declinature. I would ask them for an exact breakdown on how it is calculated if there are excessive loadings on their base premium, I would head to the Irish Insurance Federation about it. I'm assuming there are not any additional negative underwriting criteria (convictions, previous claims, age etc)

Im not sure how that would work, but I would have thought that if the recent claim was for a similar amount then the insurer would just point to it and say look what they cost us last year; this is what we think their risk is worth?

oldyouth

djimi wrote: »

Im not sure how that would work, but I would have thought that if the recent claim was for a similar amount then the insurer would just point to it and say look what they cost us last year; this is what we think their risk is worth?

They (insurer) would need to prove to the declinature board at the Federation that any loading was reasonable. In other words, if the claim was for €2,500, they can't put an excessive % loading on their base premium.

ba_barabus

Just a quick bump for this, does anyone know any brokers who they could recommend?

MCD.

What was the amount paid out for the claim?And what was the history like prior to that.

It would be common enough for a car to be replaced over the course of the policy when a serious claim has occurred, so the insuerers reaction seems unusual.

A 2.5 litre Jeep is far from unusual or high risk. Is it possibly a commercial vehicle (no seats in the back). Even at that the price is excessive.

If the claim was high enough there won't be a whole lot a broker will be able to do for your friends as acceptance criteria for direct and broker channels will largely be similar.

A claim in excess of say 20k in the last three years will preclude a number of insurers from quoting.

The IIF is their best bet if the current insurer doesn't fancy negotiating. If the claim is exceptionally high or if there is more to the risk they may very well be able to justify the hike.

wotzgoingon

ba_barabus wrote: »

Just a quick bump for this, does anyone know any brokers who they could recommend?

http://martininsurance.ie/ are good. They got me insured with endorsements on licence and very few insurers will take you on with endorsement.

ba_barabus

MCD. wrote: »

What was the amount paid out for the claim?And what was the history like prior to that.

I'm not trying to be coy but I didn't ask as I got the impression they didn't want to talk about it.