Car went on fire - questions

qir

Hi,

It's worth a couple of grand, if i claim on the fire part of my insurance how will that affect my next year's renewal premium?

Can i freeze my insurance while looking for a new car?

Can I transfer my insurance to my mam's car, she has her own insurance on the car?

colm_mcm

You'll lose your no-claims bonus and your premium will probably be loaded. You may be refused insurance by some companies.

You also need to consider what the insurance company will actually pay out for your car.

qir

colm_mcm wrote: »

You'll lose your no-claims bonus and your premium will probably be loaded. You may be refused insurance by some companies.

You also need to consider what the insurance company will actually pay out for your car.

Will they load for a fire claim?

colm_mcm

qir wrote: »

Will they load for a fire claim?

I just check my insurer, and they don't load for a fire claim

mrsbeebee

No claims discount may not be affected depending on the insurer. You should contact them to find out. You would still have to declare it to future insurers. But for €2k if bonus isn't affected it's probably worth it. You can't transfer your insurance to your mum's as it's already insured and you don't own it.

qir

Thanks for replies, Im insured through a broker (closed now, I'll ring them tomorrow), I'm having a look at my paperwork/policy and the insurer is AXA. Looking at their site and assuming terms are the same for me, their is no excess and my ncb remains after a fire claim, so that much is good, I can't find any mention on loading from a claim of that type though. Hope not.

https://www.axa.ie/car-insurance/benefits/
https://www.axa.ie/download/axa-car-insurance-policy-011016.pdf

cplwhisper

Clarify with the broker as the fire clause differs depending if you are on a student scheme with reduced benefits with Axa

mgbgt1978

While it usually does not affect your NCB it is still a Claim....which means you will have to mention it to any future Insurers for the next few years (and I'm sure you can figure out what that will mean).

Wexy86

If may not effect your bonus but I'd imagine there will be a loading as most fires(if not mechanical/electrical with subrogation rights) have an air of suspicion around them or lack of maintenance and wouldn't be the ideal risk profile insurers look for. Unless there was negligence elsewhere and you will be recovering the costs from another insurer

galwaytt

First off, no insurance company is obliged to honour another's NCB. NCB is discretionary discount : it has no basis in law etc.
So, so long as you stay with your current insurer it may not have any immediate effect.

However if you ever do move, or want to, that's when you may run into problems. Some insurance companies (e.g. Allianz) will not take on any new business if you've ever been in any kind of accident at all ( not just car btw) inside the last 5 years. Your NCB isn't worth the paper it's on to them, and it being protected ditto. In fact NCB protection is only good for your existing insurer only.

This is why there are now two questions on proposals :
1 - Have you NCB ?
2 - Have you been involved in any accidents inside the last 5 years ?

You can see what they're doing by separating NCB from a history of claims...gives them licence to ignore NCB if you fail question 2.....

So, to your question, the decider is the value involved and whether that will in fact impact future premiums.

galwaytt

Btw - you can ask your insurer what effect your claim (if you proceed with it ) would have on your renewal. Then you can decide: you're not obliged to process a claim and there is no penalty if you don't.

I did that with a bike policy a few years ago and the sums told me to file the claim.