No claims discount/bonus

[spongebob59]

Can someone explain how this works ?
Our car insurance renewals came through today and whilst mine increased by a modest amount, £25 HIDs went up by £150.
Only difference is she had to make a claim for a door that got damaged in act of vandalism and we were told that this was covered under terms and conditions for accidental damage so her no claims would not be affected.

Looks like I'll be on the price comparison sites tomorrow. Will I have to declare this claim ??

 

[Blue in Munich]

Can someone explain how this works ?
Our car insurance renewals came through today and whilst mine increased by a modest amount, £25 HIDs went up by £150.
Only difference is she had to make a claim for a door that got damaged in act of vandalism and we were told that this was covered under terms and conditions for accidental damage so her no claims would not be affected.

Her no claims bonus won't been affected, but I'll wager she's had a loading applied to the base policy price because of the claim, thus increasing the quote.

Looks like I'll be on the price comparison sites tomorrow. Will I have to declare this claim ??

Yes. Why wouldn't you?

 

[jim8flog]

Yes you have to declare any claim.

My first port of call would always be to the existing company to ensure that a mistake has not been made.

 

[spongebob59]

I had already, I was just trying to clarify as they had already said the claim didn't affect the no claims bonus but they loaded HIDs policy on renewal.

Had a hunt round today and it's better not to have a multicar policy as it seems to link her claim on my policy as a named driver. If we take out separate policies with different companies it becomes a lot cheaper. If we use top cashback we may get an additional lump sum back too.

 

[Reemul]

The loading is correct. You have your base premium then ther NCB discount is applied. Having a NCB does not mean if you have an accident there is no loading, just that you don't immediately lose your NCB if you have that covered as well. If you do not have NCB covered under the policy you can lose that as well. The normal cost to cover your NCB as part of the policy is between £5 and £20 normally but varies based on provider and this will be on top of your normal premium. Increases due to claims are normally between 10 and 20% of the premium but can be more again depending on the provider.

Any material fact not revealed to your insurer can lead to claims not being paid or your insurance being cancelled. Insurers use a database call CUE that most record the claims to and allows insurers check if there are claims against a person even if they themselves don't insure you so don't accidentally miss a claim

 

[spongebob59]

The renewal quote went up by nearly 50% but I can get it for less just by switching the provider for her car. My insurance went up by around 10% on the same multicar policy.

 

[Neilds]

Also worth noting that the database logs all calls about claims. We rang a couple of years ago about a small roof leak and the company came out but decided it wasn't covered as it was a flat roof. Despite us not actually claiming any money, it still show up when we tried to renew and said we hadn't made a claim. Still had to declare it and say it was no cost

 

[PJ87]

Majority of increases in premium used to be able to be leveled off by switching provider

May not be case now the law past that existing customers must be offered the same deals . (Another stupid campaign as it just means everyone pays more.. nice one)

But still shop around. Save your cash and move your policy

 

[spongebob59]

Had a look today using the usual pric comparison sites and the usaul suspects ( LV, Churchill, Privilege) are all within a few quid of eachother. There were cheaper companies who I'd never heard of. Checked a few of the others (Aviva, AXA,) and they were ridiculously expensive with a huge excess.
Also gave broker from the Honda forum a call and they couldn't get near the usual suspect prices.

 

[phillarrow]

Also worth noting that the database logs all calls about claims. We rang a couple of years ago about a small roof leak and the company came out but decided it wasn't covered as it was a flat roof. Despite us not actually claiming any money, it still show up when we tried to renew and said we hadn't made a claim. Still had to declare it and say it was no cost

I feel foul off this with a car. I had someone drive into my car when parked and drive off. I rang the insurance company to ask about my excess because I couldn't find my paperwork. Even though I did nothing else, it raised my premiums and is still something I have to declare 3 years later! ?

Interestingly though, I found out that NOT ringing them to tell them about it could have led to my insurance being null and void. I don't there is any way they could have found out about it, but I didn't realise that the terms of insurance are that you MUST inform them of any accidents/incidents, even when you have no intention of claiming.

 

[Blue in Munich]

I feel foul off this with a car. I had someone drive into my car when parked and drive off. I rang the insurance company to ask about my excess because I couldn't find my paperwork. Even though I did nothing else, it raised my premiums and is still something I have to declare 3 years later! ?

Interestingly though, I found out that NOT ringing them to tell them about it could have led to my insurance being null and void. I don't there is any way they could have found out about it, but I didn't realise that the terms of insurance are that you MUST inform them of any accidents/incidents, even when you have no intention of claiming.

What once was a good idea to protect people from losses has become an absolute racket. Hire vehicles, storage fees, claims handlers looking for any angle to make money. It's a disgrace.

A while ago when I went back to having a motorbike, I was ringing round for quotes;
Insurer; Any no claims bonus?
Me; 10 years on cars.
Insurer; That doesn't count. Any accidents?
Me; Yes, but they don't count.
Insurer; Why not?
Me; They were in cars.
Insurer; oh no, we need to know about them...

 

[Voyager EMH]

They pay out to cover the cost of repair, then load your premium for 3 years to get some of it back. (makes it feel like no insurance for something that was not your fault)
Premium should drop again after 3 years.

 

[PJ87]

One thing I learned last year with insurance and NCD its that its transferable (once I believe) to your spouse.

When we got a second car it was a lot cheaper to insure it in my name.. Im the main driver mostly anyways when we are out.. so I started building up a second no claims (yep the legalised theft department wont let you use the NCD on different cars ofc)

4 years past and we got the bigger car for the girls , wife drives a lot more. Thought maybe we need to take a hit and build up some NCD in her name . A colleague of mine told me about transferring ( had never heard of it) but sure enough they did it for us.. so now she has 4 years in her name.. and I have my 10 or whatever it is now