Insurance Question

Timooo_23

I'm over 25 and will be driving for 5 years when my insurance is due next month, I had collected 4 years no claims, but lost it this year in an incident involving a flying traffic cone. I claimed on my own insurance for the damage caused.

The claim went in as not being my fault, so will insurance be taking that claim into account when I apply for renewal? Or will it just be more expensive due to me having no no-claims bonus?

Any advice would be appreciated, I know I can call up and talk to insurers/ brokers but I'd like to see has anyone had similar experiences or knowledge of such. Thanks in advance.

punisher5112

They will charge more for having no no claims and also because you claimed off your own.

How much damage it do to your car and would have been maybe better fixing yourself?

oldyouth

It is a No Claim Bonus, not a No Blame Bonus far as an insurance company is concerned. Having it declared as not your fault will probably mean no additional loading but your Bonus will still be affected unless you had it protected and alternative insurers will quote you on this basis

Timooo_23

Thanks for the replies! The damage came to over €2,100, I didn't have that kind of money at the time, so claiming was really my only option. My no claims bonus wasn't protected, so it's all gone.

Montgolfier

How does a flying cone work?

Timooo_23

Road works on N18 a while back, traffic of both sides of the dual carridgeway were merged outside Bunratty, cones were used to guide traffic around, a truck coming against me caught the base of a cone and launched it into the front of my car. Never saw his reg, nobody stopped to tell me who it was.

Captain Chaos

Montgolfier wrote: »

How does a flying cone work?

Wind assisted I think.

Del2005

Timooo_23 wrote: »

Road works on N18 a while back, traffic of both sides of the dual carridgeway were merged outside Bunratty, cones were used to guide traffic around, a truck coming against me caught the base of a cone and launched it into the front of my car. Never saw his reg, nobody stopped to tell me who it was.

Have a look at the MIBI site you can claim for unidentified vehicles.

Timooo_23

Del2005 wrote: »

Have a look at the MIBI site you can claim for unidentified vehicles.

This happened a good few months ago. Nearly a year now, It's all done and dusted in that respect, was just asking how much of a price hike I'm expecting due to losing the no claims and the claim I have wasn't my fault.

K.Flyer

Timooo_23 wrote: »

....

was just asking how much of a price hike I'm expecting due to losing the no claims and the claim I have wasn't my fault.

Nobody here can really answer your question, unless they just happen to be your insurer.
You will be risk assessed by your insurance company and the will set their price accordingly.
You will just have to wait until your renewal notice arrives to find out if there is any increase.

aoifeL57

I work in insurance and a claim never goes down as a "no blame claim". did you not have step back protection on your no claims bonus? a lot of people think if they have full no claims bonus protection and they claim that It wont affect them that's not true. if you have ur bonus protection and there is a claim ur premium will still more than likely increase next but you will still have a full no claims bonus

Arthur Beesley

aoifeL57 wrote: »

I work in insurance and a claim never goes down as a "no blame claim". did you not have step back protection on your no claims bonus? a lot of people think if they have full no claims bonus protection and they claim that It wont affect them that's not true. if you have ur bonus protection and there is a claim ur premium will still more than likely increase next but you will still have a full no claims bonus

But you won't have a full no claims bonus when you try to get insurance elsewhere.

aoifeL57

if u had a full no claims bonus and protection on it and had a claim , yes u will still have a full no claims bonus when you try to get insurance elswhere

djimi

aoifeL57 wrote: »

if u had a full no claims bonus and protection on it and had a claim , yes u will still have a full no claims bonus when you try to get insurance elswhere

Another insurer doesnt necessarily have to honor it though? The details of the claim will be listed on the cert; I thought it was up to them how they want to deal with the claim?

aoifeL57

no they still have to honour the full NCB as u had paid an extra premium to protect your bonus in the event of a claim. eg if your renewal is due in October and you had a claim in feb with bonus protection, you will still have ur full bonus come October but you certificate of no claims bonus will still show the claim and 50% bonus. if you go to another insurance they will quote u based on 50% NCB but they will not allow you to protect the NCB as u will have to be 3 years claims free before you can protect your bonus again

oldyouth

aoifeL57 wrote: »

no they still have to honour the full NCB as u had paid an extra premium to protect your bonus in the event of a claim. eg if your renewal is due in October and you had a claim in feb with bonus protection, you will still have ur full bonus come October but you certificate of no claims bonus will still show the claim and 50% bonus. if you go to another insurance they will quote u based on 50% NCB but they will not allow you to protect the NCB as u will have to be 3 years claims free before you can protect your bonus again

Nonsense, you declare a claim to an alternative insurer and they will quote you as per their structure, regardless of what is on your paperwork. They will not discount their premiums because you paid an additional premium to a competitor

aoifeL57

your no claims bonus is a legal documentation so regardless whether you had a claim and you had bonus protection they still will allow your 50% bonus if your certificate states that. do you work insurance oldyouth?

oldyouth

aoifeL57 wrote: »

your no claims bonus is a legal documentation so regardless whether you had a claim and you had bonus protection they still will allow your 50% bonus if your certificate states that. do you work insurance oldyouth?

There is nothing "legal" about a No Claims Bonus. It is just a marketing tool adopted by insurance companies over the years. No insurer is obliged to accept any form of NCB presented to it. It is just that it has become standard practice. ANY insurer can decide in the morning that it is not acknowledging the concept of claims related discounts, though in practice it is a useful tool to distinguish the careful driver from the regular claimer.

Just because you have a protected no claim bonus does not mean that an alternative insurer is obliged to accept a case that it would normally decline on account of previous claims. In their eyes there is no distinction between a client who had a €50k previous claim with protection and one who had a 50k claim without. I have no doubt that some insurer might make a commercial or marketing decision to accept the bonus, but they are not obliged to. If they do decide to accept your proposal, they can place you anywhere on their NCB they blooming well please. Obviously, you don't have to accept the quote and move on

As for your question about whether or not I work in insurance, well I am not going to answer that and you do yourself no service starting nearly all your posts on Boards with "I work in insurance and......."