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insurance and no claims discount

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  • 06-09-2009 2:37pm
    #1
    wav
    Closed Accounts Posts: 2 ✭


    Hi All,

    Had a claim but now apparently i'm to lose my 4yrs NCB if I don't pay for the claim myself.Is this the norm? Thought i'd only lose that yrs NCB.If so what is the point of having it if i'm going to be paying for all claims in full?Is this the norm in other euro countries?
    Tagged:


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    #2
    Random
    Closed Accounts Posts: 19,080 ✭✭✭✭Random


    What company are you with? A lot of companys differ in what they do. I'm with Quinn for my insurance and I lose 3 years NCD if I claim. Do you have protection?


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    #3
    Toots
    Administrators, Business & Finance Moderators, Society & Culture Moderators Posts: 16,920 Admin ✭✭✭✭✭Toots


    Moved to Motors.


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    #4
    Gumbo
    Moderators, Society & Culture Moderators Posts: 39,335 Mod ✭✭✭✭Gumbo


    if you have 5 years no claims bonus, then somebody claims from you, then its correct that you now have no no claims bonus.

    some companies offer a protected NCB or step back NCB system where if somebody claims from you, you only lose 2 years or 3 years in some cases.

    then as you have highlighted, most companies allow you to pay the settlement figure to the other party and you dont lose your NCB.


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    #5
    Barr
    Registered Users Posts: 7,010 ✭✭✭Barr


    If you claim of course your bonus is effected , the only exception is if you took out bonus protection.


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