Info wanted on the E4000 excess insurance policy`s

Rudolph Claus

Im looking into these policies as im considering using such a policy to insure my next car which will be a jap import.
From what i see, 2 companies offer this deal, Xs direct and 123.ie. Also it appears that Britton Insurance handle jap import cars ONLY throught a policy which has a E4k excess but im not sure if Brittons E4k excess policies are underwritten by Xs or 123 of just by themselves.

Anyway, just a couple things i want to clearly know before taking these policy`s.
I remember reading something(might have been on boards) that your NCB is locked with these companies. Ive a 2 full yrs NCB and am 2months into my 3rd yr of insurance in my own name. If i take out this policy and decide to go back to regular policies after that year will i get a yrs NCB for the yr i would have been insured on the E4k excesss policy. So if i were to cancel my current policy, go with Xs Direct for a yr and them go bk to a regular policy would i then have 2 or 3yrs Ncb?

Also, what happens if i cause a fender/bender and someone claims on my policy for a rear bumper lets say costing a grand. I pay E1000??Apparently these policys dont take previous claims into account so if i were to renew an Excess policy again the following year the price wouldnt go up?

I think they work on the basis that you swap your NCB for a huge Excess?

Is anybody here insured on such a policy and have you any tips/useful info i shuld consider before doing this.

kdouglas

never heard of these before myself, but with a 4000 excess i (personally) wouldnt bother...if you did have an accident, would you have 4000 handy you could just throw away?

Stephen

Nuttzy wrote:

Also, what happens if i cause a fender/bender and someone claims on my policy for a rear bumper lets say costing a grand. I pay E1000??

Yeah, €4000 excess means you pay the first 4 grand of any claim against you. Dunno about the NCB questions.

What kind of jap beast are you planning on getting?

Del2005

You don't gain or loose the NCB you have now, which is 2 years. If you cancel your current policy before the year is up you loose that as partial NCBs don't exsist. You can keep your current 2 years NCB for 2 years before you loose it.

As for the 4k, as said before you have to cover the 1st 4k of any claims, but you don't loose your NCB as it doesn't offer CB on the policy. Not too sure how you would get away with going back to proper insurance if you have a claim with them. They don't give NCBs but when asked about claims you have to answer that you had one.

I think that 123.ie are just acting as a brooker for XS direct

Rudolph Claus

Thanks for the replies but I dont seem to have explained my queary very clearly. My question in relation to the NCB is about it being locked. Locked as in i dont get a yr Ncb for the year i`d be with Xs Direct. Example:Ive 2yrs Ncb, i go with XS Direct for a year and then decide to switch back to normal insurance, do i now have 3yrs Ncb? I remember reading something that your NCB is locked when you go with a Xs direct policy as in your not awarded a yrs Ncb for your years duration with them. This is the main thing i want to find out about these policies because:
I could be in a situation where im taking the risk of a huge excess and also still paying a considerable sum despite the huge excess, also when going back to normal insurance 1 or 2 years later i wouldnt be any nearer to a desirable 5yrs Ncb than i am currently with my 2yrs Ncb if the Ncb is locked and so i`d still be paying over the odds for insurance.

Hmmmm!

Our man in Havana

Why wouldn't you get credit for years being with XS?

Seth Brundle

XS Direct don't use NCDs so why would they give you one when you leave. However, if you can prove that you had x years before joining them and were claim free whilst with them then I would imaging that insurance companys would recognise this.

Our man in Havana

One would hope but this is Ireland.

Cerberus

At the end of your policy with XsDirect they will give you a letter saying that you have had X amount of years claim free with them, providing that you haven't claimed of course. This legally has to be recognised by other insurance companies that factor in NCBs when quoting. XsDirect do not factor in NCBs when quoting as they don't see previous insurance history as being an accurate indication of future performance. All of this is available from their website and from speaking to them so if I'm telling you lies then I was told lies...

Savman

Nuttzy wrote:

any tips/useful info i shuld consider before doing this.

Yep, reconsider.

Del2005

From xsdirect.ie FAQ section

Do XS customers get a bonus certificate ?

On renewal, XS direct issue a letter detailing Years of Claims Free Driving. This is accepted by all car insurance companies in Ireland.

So you get a letter saying you had no claims, but if in doubt ring up an insurance company saying you have 2 years NCB and 1 years XS direct no claims and ask what the quote will be.

But AFAIK the no claims letter from XS direct doesn't count to NCB. But again ask. You can leave you own NCB dormant for 2 years before you loose it, but don't forget you'll also be 2 years older so maybe your insurance would have dropped a bit when you go back.