Insurance Yikes!

[Daniel]

As some of you know, I had an accident a month or so back which the insurance approved, so the car should be ready in a few weeks. Turns out my policy is up for renewal in May too.

 

Since the car is on limited mileage with Adrian Flux (Underwritted by Link Insurance) it only cost me +-£500 last year. When i took out the policy I asked about my previous 5 years ncb with Direct line, and Adrian Flux said they didn't use that cos I was on this limited insurance thing. Fair enough.

 

I spoke to Adrian Flux today because I received a letter saying my policy was almost up, and it turns out Link will not insure me now because I had an accident within the first year of the policy with them (oops) and they now want £1700 for renewal. Nice! Almost 30, 5Yr NCB, and one accident and they expext me to pay over triple??? I'm glad I payed £500 premium and they ended up paying about £5000 in repairs, buggers!

 

Anyhow does anyone have any recommendations as to what i can do? I assume I still have my 5 years NCB from Directline (Cancelled the policy last Feb and I believe I can carry my NCB to any insurance co for up to 2 years?) So can I just go to anyone else and show them my 5 yr NCB and just get a normal policy? When they ask if I've have any accidents how do I explain this to them?

 

Tips and tricks welcomed

 

Confused Dan

[dobbo]

Anyhow does anyone have any recommendations as to what i can do?  I assume I still have my 5 years NCB from Directline (Cancelled the policy last Feb and I believe I can carry my NCB to any insurance co for up to 2 years?)  So can I just go to anyone else and show them my 5 yr NCB and just get a normal policy?  When they ask if I've have any accidents how do I explain this to them?

 

Tips and tricks welcomed

 

Confused Dan

<{POST_SNAPBACK}>

 

1. phone around (a lot) and speak to people rather than use the website. Be really friendly and get them onside with you.

 

2. Unlikely to carry NCB for that long but it depends on the (new) insurer.

 

3. If it's a standard car, play the big boys off against each other.

 

4. Ask the agent to clarify things like Tracker requirements - Direct Line wanted Sonya to have a tracker on the car she had off me, despite the same insurer not needing me to have tracker on same car the previous day !

 

5. You could try and convince them the NCB was built up on a different car - they force you to build NCB up separately, so they can't take it off you for "two" cars due to one claim. I did that when I was originally insured with NU. £900 premium and £6k claim. Obviously, at renewal they wanted loads more. I'd sold the other car and had full NCD on that that they were happy to move to the Elise. Obviously they have to know about the accident, but make it sound very basic and beef up the bit about exhorbitant Lotus parts prices and labour charges when they flinch at the size of your claim. It worked for me... but that was 4 1/2 years ago !

 

Chris

[GCCK]

Dan

 

Even if you don't make a claim on your other policy, you're required to inform your insurer (existing or prospective new) of any "changes" since your last policy. This includes licence points and any accidents (fault or no fault). Failure to do so would void the policy and then you'd really be hung out to dry. Technically, you don't have a NCB any more, because you've made a claim - even though it was on a different policy. Your position would have been stronger if the other policy was still current.

 

My NCB is screwed and I didn't even cause an accident - was hit by an uninsured driver, so my insurer didn't have anyone to claim against. Lost NCB, lost excess, lost residue premium on policy (car sold, policy cancelled) and get insurance loading for the next 5 years (until you're no longer required to declare it). Fortunately, with motor legal insurance, there's a solicitor chasing the bloke for the cash - I'll have the shirt off his back if needs be!

 

Each insurer will view your situation differently - pick the one which charges you the least cash, whatever interpretation they put on your NCB. Like mine, you're in the weakest possible situation, namely changing insurer (or lapsed insurer) immediately after an incident. It may be marginally better once the full extent of the repair costs are determined - I'm assuming the repairer hasn't yet submitted his final invoice to the insurer yet? Talk to the repairer to determine if the car is covered by his insurance while under his roof, and when will his costs be forwarded to insurer: before or after you collect (and hence need insurance again). Might make striking a deal easier once insurers are aware of extent of the claim - they hate unknowns.

[Steve J]

Are you sure you lose all NCB after a claim? Thought you just lost a couple.

 

Get it protected next time as it doesn't cost much more.

[gerags]

Are you sure you lose all NCB after a claim?  Thought you just lost a couple.

 

Get it protected next time as it doesn't cost much more.

<{POST_SNAPBACK}>

 

I had a Rover 220 GTI (about 6 years ago) and it was written off due to an attempted break-in/vandalism.

 

I had to claim and lost two or three years off my NCB, but not all, and had written proof on termination of the policy.

I spoke to my broker who said that NCB is valid for 2 years non insurance.

 

I then had a Peugeot with a years insurance free.

 

I built up another year NCB with the Pug and then spoke to my next insurer (Direct Line) who added the 2 together and I then had a combined NCB of about 3 or 4 years.

 

Best thing is to speak to the companies and explain the situation.

They're quite helpful in situations like this.

[Scott_Mac]

Loss of NCB is dependant on value of claim... for a 5k claim (from what i hear it could be more than that though mate ) you may end up with a bit - like 1 year.

 

You can carry the NCB over for 2 years but will be required to mention the accident.

 

I would try Tesco et al to see what they can offer.

[Rich111s]

Couple of thoughts that might help:

1. Call agents at the end of the week/month as they often have to hit targets, so you might be able to get a better deal through a stronger negotiating position

2.Get a bit of 'rapport' going with them - apologies for sounding like David Brent! A friend of mine who has worked in insurance told me that he would push harder for the best deal if he actually got on with the person applying. Sounds odd, but if he'd already met his targets and sold more policies, he was only going to make his targets higher for the following week!! Sneaky

3. Always protect your NCB - only cost me a few pounds extra

4. Consider joining the 'official' Lotus Owners club (for c. £30) to get 10% discount with Esteem insurance, so joining fee it could instantly pay for itself and some

Hope this helps - good luck

[dobbo]

Protecting NCB has never seemed a cheap option to me. Both NU and DL wanted around £100 to protect it - that's just a licence to print money in my opinion.

[Daniel]

Hi Guys,

 

Thanks for all the tips so far. I'll get onto the repairers and find out the cost of the damage for starters.

 

Then I'll take in all you've said and give it bash. Unfortunately I'm out on customer sites till next Wednesday so it'll be next Thu/Fri when I start calling around.

 

It seems so hit and miss with insurance companies, so I'm sure that out of a whole bunch I will come up with something and won't have to sell my body to pay for it

 

Dan

[GreyKnight]

Hope you get this sorted Dan. Insurance is a nightmare! I got my policy through for my Leon R from Adrian Flux last week and upon reading it I discovered that my 8 years NCB was unprotected! I immediately phoned them and paid another £50 to protect it as with two performance cars I cannot (and I mean CANNOT) afford to lose my no claims bonus! Fortunately they agreed to not charge me the £15 amendement fee since I have two cars with them and therefore I'm a good customer I was just amazed that when I was buying the policy they didn't offer me protected no claims! They didn't even point it out to me!

 

Oh well, you'll get it sorted...

[Scott_Mac]

IN my eyes protected NCB is a waste, you still get a loading on your policy after an accident - it says you have 5 years but it only really works if you staty with the same insurer, so its a sort of invisible handcuff if you ask me. Plus for me its rarely worth the £100 - £150 premium.

[Daniel]

Well, so far I've had a chat to Directline. Nice guys. Apparently they'll give me my 6 years NCB back, with NCB protection and it works out at £914.00 for the year. Unfortunately they want tracker fitted. Anyone know how much that is (Install and monthly subs)?

[Fiona]

Protecting NCB has never seemed a cheap option to me.  Both NU and DL wanted around £100 to protect it - that's just a licence to print money in my opinion.

<{POST_SNAPBACK}>

 

£10 to protect NCB (9 years) with Elephant this year. £513 instead of £503.

 

Think we'll be going with them.

[GreyKnight]

Well, so far I've had a chat to Directline.  Nice guys.  Apparently they'll give me my 6 years NCB back, with NCB protection and it works out at £914.00 for the year.  Unfortunately they want tracker fitted.  Anyone know how much that is (Install and monthly subs)?

<{POST_SNAPBACK}>

 

Don't know how much it is fitted, but it costs me £100 a year for the subscription to Tracker Retreive on my Leon.

[Scott_Mac]

About £400 fitted for a Tracker and £100 per year.