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Minor accident last year + renewal

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  • 27-02-2018 11:42am
    #1
    brainiac
    Registered Users Posts: 536 ✭✭✭


    Hi guys,

    I was at fault for a minor accident last July. The cost of repair for the TP was €2000, with no injuries or anything like that. I had 4 year unprotected bonus at this point. Renewal is coming up in about 6 weeks and I have to decide whether to pay my insurer back the €2000 and have 5 years NCB, or let them cover it and drop back to 0 years NCB.

    Has anyone had a similar scenario before? What way did you handle it? I will obviously get quotes in 2-3 weeks from everywhere with and without NCB consideration. Online checks with most places currently won't offer a quote with the 0 NCB + claim hence why I am asking now so I can prepare a little!

    I imagine paying off the 2k for the sake of 5 years NCB will be the better option in the long run?


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    #2
    whomitconcerns
    Registered Users Posts: 4,329 ✭✭✭whomitconcerns


    even if you do that you might find that your insurance goes up anyway. They may give you back your NCB, but your renewal could still double.

    ie 20% ncb discount on 1000 his year

    You pay back the claim and retain your 20% NCB

    renewal comes in at 20% NCB discount on £3,000.. You have retained your 20% but its still 3x last years insurance price

    Its a lose lose potentially....fact remains you had an accident and this will affect your quotes!


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    #3
    brainiac
    Registered Users Posts: 536 ✭✭✭brainiac


    whomitconcerns wrote: »
    even if you do that you might find that your insurance goes up anyway. They may give you back your NCB, but your renewal could still double.

    ie 20% ncb discount on 1000 his year

    You pay back the claim and retain your 20% NCB

    renewal comes in at 20% NCB discount on £3,000.. You have retained your 20% but its still 3x last years insurance price

    Its a lose lose potentially....fact remains you had an accident and this will affect your quotes!

    Sure, makes sense! I have gotten some basic online quotes of like 1000 or so with ncb + accident, which is why I imagine it's the safer option as I cannot get an online quote with 0 NCB and the accident. I'll just call around and play it by ear next month. Thanks.


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    #4
    Nody
    Moderators, Category Moderators, Arts Moderators, Business & Finance Moderators, Entertainment Moderators, Society & Culture Moderators Posts: 18,277 CMod ✭✭✭✭Nody


    brainiac wrote: »
    Sure, makes sense! I have gotten some basic online quotes of like 1000 or so with ncb + accident, which is why I imagine it's the safer option as I cannot get an online quote with 0 NCB and the accident. I'll just call around and play it by ear next month. Thanks.
    By paying of the insurance company does not change that you were in an accident; that's most likely what's causing you problem either way with online quotes.


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    #5
    brainiac
    Registered Users Posts: 536 ✭✭✭brainiac


    Nody wrote: »
    By paying of the insurance company does not change that you were in an accident; that's most likely what's causing you problem either way with online quotes.

    Sure but I am getting them and they're not shocking when I have the NCB retained + the accident. Plus I'm thinking of knock on effect for future years.


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    #6
    Mantis Toboggan
    Registered Users Posts: 17,802 ✭✭✭✭Mantis Toboggan


    I'd pay them the money as long as they don't cripple you on the premiums.

    I had a claim a few years back where a tree fell on my car in a storm. Cost was 5 k.

    Premium the following year went from 520 to 1600, 1420 the next year then 1260 the next year. At only 2 k I'd pay that off and then protect your ncb.

    Nobody will insure you with 0 ncb only your current insurer.

    Free Palestine 🇵🇸



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    #7
    whomitconcerns
    Registered Users Posts: 4,329 ✭✭✭whomitconcerns


    Tyson Fury wrote: »
    I'd pay them the money as long as they don't cripple you on the premiums.

    I had a claim a few years back where a tree fell on my car in a storm. Cost was 5 k.

    Premium the following year went from 520 to 1600, 1420 the next year then 1260 the next year. At only 2 k I'd pay that off and then protect your ncb.

    Nobody will insure you with 0 ncb only your current insurer.

    Paying them back wont necessarily make your premium any less. It will just keep your ncb. you will still have to say you had an accident, and as a result your premium probably WILL increase


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    #8
    brainiac
    Registered Users Posts: 536 ✭✭✭brainiac


    It'll definitely go up, I'm fully prepared for that. Again though, you're passing over the fact that I've already managed to get quote estimates of sub €1000 with the NCB intact. I highly, highly doubt I would be quoted for 1200 with no NCB, i.e. there's more than just the 20% NCB in play.


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    #9
    MugMugs
    Registered Users Posts: 17,875 ✭✭✭✭MugMugs


    Why not call them and ask them was the renewal quote with and without the claim is, that way you can answer your own question with a cool solid fact.


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    #10
    muckbrien
    Closed Accounts Posts: 176 ✭✭muckbrien


    Not to hijack the the thread

    On a related note

    What happens if u report an accident to your insurer and there's subsequently no claim

    Accident was very minor and no fault determined but reported anyway as per the policy

    Will they jack up the premium


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    #11
    MugMugs
    Registered Users Posts: 17,875 ✭✭✭✭MugMugs


    muckbrien wrote: »
    Not to hijack the the thread

    On a related note

    What happens if u report an accident to your insurer and there's subsequently no claim

    Accident was very minor and no fault determined but reported anyway as per the policy

    Will they jack up the premium

    If its closed as a no claim or withdrawn then there's no impact or consideration at renewal.


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    #12
    muckbrien
    Closed Accounts Posts: 176 ✭✭muckbrien


    MugMugs wrote: »
    If its closed as a no claim or withdrawn then there's no impact or consideration at renewal.

    Phew!


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    #13
    MugMugs
    Registered Users Posts: 17,875 ✭✭✭✭MugMugs


    muckbrien wrote: »
    Phew!

    Just make sure it's been closed before renewal ;)


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    #14
    muckbrien
    Closed Accounts Posts: 176 ✭✭muckbrien


    MugMugs wrote: »
    If its closed as a no claim or withdrawn then there's no impact or consideration at renewal.

    Do i have to disclose it if it's closed as a no claim?


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    #15
    MugMugs
    Registered Users Posts: 17,875 ✭✭✭✭MugMugs


    muckbrien wrote: »
    Do i have to disclose it if it's closed as a no claim?

    Yes, generally the wording is "Have you had any claims regardless of blame in the past five years?" You disclose a No Claim with nothing paid out. Not doing so could result in indemnity issues at a later stage if they check.


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    #16
    muckbrien
    Closed Accounts Posts: 176 ✭✭muckbrien


    MugMugs wrote: »
    Yes, generally the wording is "Have you had any claims regardless of blame in the past five years?" You disclose a No Claim with nothing paid out. Not doing so could result in indemnity issues at a later stage if they check.

    Ok thanks

    Why would u have to disclose it if there's no impact or consideration?


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    #17
    [Deleted User]
    Posts: 14,344 ✭✭✭✭ [Deleted User]


    brainiac wrote: »
    Sure, makes sense!

    No it doesn't.

    What's the point of having insurance if you're terrified to use it?

    You pay for an insurance policy to cover you if you have an accident, and when you have an accident you get hammered left right and centre for it, regardless of who is to blame or damage caused.

    And if your issue isn't settled before renewal, you're stuck with the one company as no one else will dream of touching you, and you can be bent over and rode by the company who know you have no choice.


    You drive for 5 years without so much as scratching a mirror, but you have a momentary lapse of concentration in your 6th year and drive into the back of someone, and the insurers think all of a sudden you're a baby at the wheel of the car with no idea what you're doing.

    I hate using the word 'disgrace' because it's so 'Joe Duffy' but it makes me angry to see people getting screwed and screwed and screwed for trivial things (yet never any punishment for the kinda people that couldn't give a toss and drive without insurance in the first place. Even if they smash your car in bits they'll get a driving ban (ha!) and a fine of €50 or something equally silly).



    Apologies for the rant. I genuinely feel for you, OP. Thankfully I've never had to claim for anything, but it's frustrating to know that you can't win in your situation.


    Definitely ring them and ask for two quotes, one with 0 years no claims, and one with 5 years no claims.

    Also ring a few other insurers. Don't just stick with them. Bank of Ireland did me a good deal recently (whereas FBD, who had been good to me for the last 2 years, tried to rob me this year) so definitely shop around.


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