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Car accident and no claims bonus. Should I refund the liability costs?

billyhead · 2008-06-18 08:05:03

Hi, I was involved in a car accident over a week ago (entirely my fault) and the cost of damage to the other persons car is €1400 which my insurer has paid. I had a no claims bonus of nearly 3 years and the premium is due for renewal in August. The insurance company posted me a letter yesterday saying they settled the…

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18-06-2008 9:05am

#1

billyhead

Registered Users Posts: 9,867 ✭✭✭

Join Date: May 2006

Posts: 8780

Hi,

I was involved in a car accident over a week ago (entirely my fault) and the cost of damage to the other persons car is €1400 which my insurer has paid. I had a no claims bonus of nearly 3 years and the premium is due for renewal in August. The insurance company posted me a letter yesterday saying they settled the €1400 with the other driver and were wondering would I like to pay the €1400 to them in order for me to continue with the NCB. I was just wondering is it worthpaying them back even though I only had the NCB for 2 years i.e my insurance (3rd party fire & theft) is €450 per annum at the moment. I know it will shoot up at the next payment but it will probably only increase by another couple of hundred (I would think). By the way I have a second provisional licence.

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