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Claiming off own insurance

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  • 17-12-2022 9:53pm
    #1
    fitzparker
    Registered Users Posts: 1,188 ✭✭✭


    Hit black ice and went into path. Seems wishbone or Axel is gone, car to get towed on Monday and assessed.

    Depending on cost will more than likely claim off insurance. No NCD protection losing 10 years but do have stepback protection

    AXA told me Step Back will reduce from 75% to 60%

    I just want to know what this means for next year?

    Insurance This year is €450

    I did a test quote on Axa today ( put in 0 claims and put claim in for 5k as an example)

    Quote came in at €1300

    Will having the stepback above make any difference to it?



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    #2
    Eggs For Dinner
    Registered Users Posts: 2,967 ✭✭✭Eggs For Dinner


    If €450 is net of a 75% NCB, it means your base premium is €1,800. If AXA reduce your NCB to 60%, your next premium would be €720, provided there are no rate increases



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    #3
    fitzparker
    Registered Users Posts: 1,188 ✭✭✭fitzparker


    Thanks.

    So is stepback only if I renew with AXA?

    Does it mean nothing with other car companies?

    Like if I do a mock renewal there is nowhere to put stepback in (or do axa tell me "your 60% stepback = X amount of years no claims") and that is what I put in?

    Just trying to wrap my head around what step back is.



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    #4
    Eggs For Dinner
    Registered Users Posts: 2,967 ✭✭✭Eggs For Dinner


    Every insurer has a scale of discounts they grant for each consecutive year of claim free driving. Step back protection means that your insurer will put you back a few stages in the event of a claim, rather than back to the very start. What way other insurers treat your circumstances is up to them, only your current insurer is obliged to honour the agreement.



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