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Explain No Claims Bonus Protection

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  • 20-08-2016 8:14pm
    #1
    Digital Society
    Registered Users Posts: 972 ✭✭✭


    Hi

    I have 10 yrs no claims. Herself has 2. Id be the main driver herself the named driver.

    What happens if she has a claim?

    Thanks


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    #2
    Liberty Insurance: Una
    Company Representative Posts: 163 Verified rep ✭Liberty Insurance: Una


    Digital Society wrote: »
    Hi

    I have 10 yrs no claims. Herself has 2. Id be the main driver herself the named driver.

    What happens if she has a claim?

    Thanks
    Hi Digital Society,

    If 'herself' makes the claim while a named driver on your policy it would affect your No Claims Bonus. Subject to terms and conditions e.g having a protected no claims bonus.

    Thanks
    Una


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    #3
    Riva10
    Banned (with Prison Access) Posts: 1,280 ✭✭✭Riva10


    Just remember that it is the "no claim discount" that is protected and not the renewal premium.  Claim and You Will Be Screwed whether you have no claim bonus protection or not.


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    #4
    tayto lover
    Registered Users Posts: 51,920 ✭✭✭✭tayto lover


    Riva10 wrote: »
    Just remember that it is the "no claim discount" that is protected and not the renewal premium.  Claim and You Will Be Screwed whether you have no claim bonus protection or not.
    Is that true?
    If so what's the point in having NCB Protection?


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    #5
    Riva10
    Banned (with Prison Access) Posts: 1,280 ✭✭✭Riva10


    tayto lover wrote: »
    Riva10 wrote: »
    Just remember that it is the "no claim discount" that is protected and not the renewal premium.  Claim and You Will Be Screwed whether you have no claim bonus protection or not.
    Is that true?
    If so what's the point in having NCB Protection?
    Not much point really but then again like most insurances, it's for peace of mind.  Of late when shopping around at renewal time, Insurance Companies are more interested in whether you have had a claim in the last number of years rather than length of no claim bonus.  If you have a full no claim bonus (as a result of having it protected) and a claim in the last 5 years, the quotation you receive will reflect this.  It is very easy on paper to give a 70% no claim bonus if the original price has been risen through the roof. 


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    #6
    Digital Society
    Registered Users Posts: 972 ✭✭✭Digital Society


    Can Liberty please explain the benefit of paying for NCB protection?


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    #7
    Liberty Insurance: Una
    Company Representative Posts: 163 Verified rep ✭Liberty Insurance: Una


    Digital Society wrote: »
    Can Liberty please explain the benefit of paying for NCB protection?
    Hi Digital Society,
    The benefits of having NCB protection are that, in the event of a claim, your discount will be protected and you will still have your earned NCB discount at your next renewal. You can purchase NCB protection with Liberty Insurance once you have obtained 4 years no claims bonus. Renewal premiums are subject to a number of factors and may change year on year however with NCB protection you will still obtain a discount once you had only one claim on the policy. If you did not have NCB protection, and are in the unfortunate circumstances where you have a claim on your policy, then your discount will reduce in accordance with your terms and conditions, making the renewal price more expensive. It is important to note that different insurance companies may have different practices around NCB protection.
    Una


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