Best Insurance Company after Claim?

square ball

My insurance is up for renewal next month and I got a fairly high quote with my current insurers and got a shock when I saw the quote.

I am 25 and have a full licence for over 5 years with 7 years driving experience. I had 5 years no claims up till this year and my claim was closed at just over €4000.

I'm wondering who the best company to get a quote of will be?

old_aussie

get an online quote from the other companies and then you will know your personal cost of insurance

biko

There is no best, there is only ring around.

Seriously, it's a case by case thing. You need to do many online quotes, ring a few brokers, go back to original company with lower quotes from others and try to force them down, etc..

bazz26

If your NCB has been reduced to zero then you will struggle to get a reasonable quote and you maybe tied to your existing insurer for some time as you might find they are cheaper than most others.

square ball

Cheers lads. Not looking great so. Most of the online ones not giving a quote when I set the no-claims for zero. Probably will be stuck with my own insurance company.

Anyone know how long it takes for insurance to go back to a reasonable rate? Will I have to let no-claims build up fully again or will it go down a bit after the first year?

At the rate I am getting it is costing more over a couple of years than paying the €4000 myself.

matt70iu

square ball wrote: »

Cheers lads. Not looking great so. Most of the online ones not giving a quote when I set the no-claims for zero. Probably will be stuck with my own insurance company.

Anyone know how long it takes for insurance to go back to a reasonable rate? Will I have to let no-claims build up fully again or will it go down a bit after the first year?

At the rate I am getting it is costing more over a couple of years than paying the €4000 myself.

Had a claim for 2,400 in 2010. The following years insurance went from 800 to 1,300. This consisted of a loading of 300e for the claim as well as reducing my no claims bonus from 3 yrs to 0 yrs.

2011 Premium was 1100 loading of 236 for claim and 1 years no claims.

2012 Premium was 1036 loading of 236 for claim and 2 yrs no claims.

2013 Premium was 950 No loading for claim and 3 years no claims.

Rang and got them down to 770 as claim outside of 3 yrs.

During the loading phase for claim, most other insurers wouldn't quote and those that did were often dearer than current insurer. One or 2 were cheaper, but not cheap enough to justify switching.

Feel your pain with regard to premiums but do ask around and see if you can get anything cheaper. The biggest issue I found was that none of them will even bargain with you once you've a claim within 3 yrs.

Best of luck

darragh o meara

Had a problem with insurance last year. Got a quote from Britton insurance in Donegal. I had a claim and a cancellation on my record!! Thankfully the cancellation is being removed as we speak from my record.

Foxhole Norman

It'll be at least three years before it clears off most companies. I'm in the same situation as yourself until November-ish when my accident clears.