Can I pay the claim to third party and retain NCB

irishproduce

As in the thread title, I have been advised that following a very minor incident, I may pay the third party costs and retain the NCB.
The case has been settled but I was never given the chance to pay the nominal costs to repair minor damage to third party car.

As a result, a very long held ncb has been eliminated.

Any thoughts on it?

Thank you

slimjimmc

It's usually possible. Talk to your insurer

irishproduce

Thanks Slimjim, the broker or the underwriter?

mullingar

Im no insurance expert, but I recall reading somewhere that you might be still penalised come renewal as you are now a higher risk as they usually ask any claims or losses. A loss being out of pocket for damage you caused.

I could be wrong. Any insurance experts here?

slimjimmc

I don't see any point in dealing with a broker, I'd go direct to the insurer.

Kristopherus

irishproduce wrote: »

As in the thread title, I have been advised that following a very minor incident, I may pay the third party costs and retain the NCB.
The case has been settled but I was never given the chance to pay the nominal costs to repair minor damage to third party car.

As a result, a very long held ncb has been eliminated.

Any thoughts on it?

Thank you

I think you have been f***ed about by your insurance co. They have settled the case without telling you. Insurance cos are notorious for this behaviour. You'll be paying through the nose for the next few years, unfortunately.

Connavar

mullingar wrote: »

Im no insurance expert, but I recall reading somewhere that you might be still penalised come renewal as you are now a higher risk as they usually ask any claims or losses. A loss being out of pocket for damage you caused.

I could be wrong. Any insurance experts here?

Thats true. I kept my no claims bonus but my base premium shot up leading me to have to pay an extra €800
The no claims bonus is a bit of a false advertisement imo

TheDoc

I paid my insurer directly two years ago. Long story short minor tap onto a bumper in car park, lad tried pulling a fast one regards estimates so I said grand I'll let my insurer handle it.

Insurer sent me details once the whole thing was resolved and I contacted them asking could I pay them directly and re-instate my no claims and there was no problem.

Was done in a few minutes over the phone. I also queried would this affect my premiums as having a claim and they said no.

I always mention it when I'm doing a renewal and each time I'm told it's fine it doesn't matter/count.

Ring the insurer directly and outline your willing to pay them back, and theywill outline the options and impact of such. If you went through a third party broker then they can do the legwork for you. If you went through someone like Chill, they don't do that for you and refer you to the insurer directly.

TheDoc

Connavar wrote: »

Thats true. I kept my no claims bonus but my base premium shot up leading me to have to pay an extra €800
The no claims bonus is a bit of a false advertisement imo

Base premiums are up across the board the last few years. I'm paying a little more all right, but nothing to do with the claim I paid back and cleared with the insurer.

If that was the case, I'd be on the phone asking questions immediately, as for the past two years I've been advised my premium has not been affected by any past claims, and my discounts have been properly applied via my NCB, and that the increases I've been getting are just across the board increases.

Henry Ford III

slimjimmc wrote: »

I don't see any point in dealing with a broker, I'd go direct to the insurer.

You are paying the broker for a service, including claims handling. So I'd go through them.

irishproduce

TheDoc wrote: »

I paid my insurer directly two years ago. Long story short minor tap onto a bumper in car park, lad tried pulling a fast one regards estimates so I said grand I'll let my insurer handle it.

Insurer sent me details once the whole thing was resolved and I contacted them asking could I pay them directly and re-instate my no claims and there was no problem.

Was done in a few minutes over the phone. I also queried would this affect my premiums as having a claim and they said no.

I always mention it when I'm doing a renewal and each time I'm told it's fine it doesn't matter/count.

Ring the insurer directly and outline your willing to pay them back, and theywill outline the options and impact of such. If you went through a third party broker then they can do the legwork for you. If you went through someone like Chill, they don't do that for you and refer you to the insurer directly.

I never got the chance to pay it, we were just sent details of the settlement. In my naivety I left it go. I did so because it was my spouse who had the bang - on my policy - so I (wrongly) assumed the extent of the impact on me. I thought it would be negligible. But they have eliminated my whole NCB even though I wasn't involved. My mistake I know but anyway...

I will post back here with what happens in any case, so future searchers will benefit.
I have contacted the insurer asking them to give me that option.

Now I wait

TheDoc

In fairness they didn't provide the option to me. I just rang them after getting a letter that it was settled and made the offer.

I never knew it was something you could do, figured I'd just ask and chance my arm. Obviously since realised its something you can do with any insurer really.

But I don't think they would openly provide the option, since they have a chance to claim a higher premium from you down the line.

If you are still under that policy, you probably have the opportunity still to pay it off. Give em a ring sure

Dubwat

I tipped into someone's bumper and it cost ~€1,000 for the guys new bumper. Luckily, I was insured right?

My insurance company paid it but offered me the chance to pay the money to the company. Then they'd forget all about it and it wouldn't affect my NCB etc. In my naiveity, I thought they were joking until renewal time. My premium doubled and my NCB vanished.

Rang around but no other company will touch you if you've had an accident in the last 3/5 years.

In effect, I had no choice but to pay the insurance company the money. The words 'blackmail' and 'extortion' spring to mind but I wouldn't say that out loud :P

irishproduce

They were not interested in the end, insurance expiring anyway.
Got a quote from Kennco and went with that today after dealing with incumbent.

TheDoc

Dubwat wrote: »

I tipped into someone's bumper and it cost ~€1,000 for the guys new bumper. Luckily, I was insured right?

My insurance company paid it but offered me the chance to pay the money to the company. Then they'd forget all about it and it wouldn't affect my NCB etc. In my naiveity, I thought they were joking until renewal time. My premium doubled and my NCB vanished.

Rang around but no other company will touch you if you've had an accident in the last 3/5 years.

In effect, I had no choice but to pay the insurance company the money. The words 'blackmail' and 'extortion' spring to mind but I wouldn't say that out loud :P

Similar thing happened to me as part of the claim I repaid. Tipped into a Merc and there was not even a scratch on my car, but there was like a tiny sliver of scuff on the Merc.

I accepted liability and he went off to get a quote. Came back to me with €1200, and the invoice had outlined MASSIVE labor costs and he was getting the entire bumper replaced. I had noted at the time of the incident other areas of his bumper were scuffed and dented, but were already existing.

Told him I was going to go through my insurance and request they investigate, and was pretty up front telling him I felt he was pulling a fast one.

Was a good few weeks before I heard anything and letter in the post said that the cost of the payout was like 200 and something. So rang them up and offered to pay it square and it was fine.

The woman on the phone didn't go into detail, but said they took head of my comments on the initial claim and actually sent an assessor out. Just goes to show. I knew full well he was being a sly bastard about it and wasn't having any of it.