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Insurance - Pay off claim and gain NCB?

  • 28-07-2015 4:35pm
    #1
    Danger781
    Registered Users, Registered Users 2 Posts: 5,692 ✭✭✭


    Hey all,

    Have a few days before my policy ends.. So need some advice! I currently have a claim which was settled for 1200 euros. Liberty gave me two options:

    Option one
    Do nothing. This will mean I will not gain a one year NCB. I currently do not have a NCB.
    Total cost: 2162.49

    Option two
    Pay off the 1200 euro settlement amount. This will allow me to gain a one year NCB and bring my premium down to 1312.59 (300 euros more expensive than when I had L plates! :confused:)
    Total cost: 2512.59

    I'm debating whether or not to pay it off. From calling around, doing online quotes, etc. it doesn't seem to make a difference whether or not I pay off the quote? Any benefits in paying vs not paying other than total cost? A lot of companies simply ask if a claim was processed in the last 5 years for example..

    On a side note, having a claim is such a balls. Really wish I didn't have to go through this rigmarole but the other party refused to co-operate when dealing with him directly.


Comments

  • #2
    Atlantic Dawn
    Registered Users, Registered Users 2 Posts: 84,733 ✭✭✭✭Atlantic Dawn
    M


    You will have to answer the claim processed question with all insurers whatever option you take so for this reason I would go with option 1.

    Would be worth ringing around though for quotes with other providers for having a processed claim and 1 years NCB verses having no NCB.


  • #3
    Foxhole Norman
    Registered Users, Registered Users 2 Posts: 5,875 ✭✭✭Foxhole Norman


    Companies can ask if you've had any claims, which you'll have to say yes but if you cover it and keep your no claims you can also say you have a NCD.


  • #4
    Danger781
    Registered Users, Registered Users 2 Posts: 5,692 ✭✭✭Danger781


    Atlantic Dawn wrote: »
    You will have to answer the claim processed question with all insurers whatever option you take so for this reason I would go with option 1.

    Would be worth ringing around though for quotes with other providers for having a processed claim and 1 years NCB verses having no NCB.

    I rang around and worked under the assumption that I would have a 1 year NCB. Renewing with Liberty came out cheapest whether or not I paid off the claim. Second best option was AXA @ 2596 with the bloody DriveSave app..


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