car insurance problem

doncorleone1

hi
im looking for someone to help with a insurance dilema. I would be very grateful if anyone could answer this question.

If a person has 2 or 3 cars and has them all insured seperately, each having different amounts of NCB and has a claim on one policy, does it affect all policies or just the one that has been claimed on.

thanks again for any help you can give me and i look forward to receiving some detailed answers

cheers

rvn_2

Hello, came here looking for help but in this instance i can help you lol!

I've worked in insurance for over 13 years both for a major company and also smaller brokers.

With regards you question.

The NCB will only be effected due to the claim (which i'm assuming is classed as fault?) on that particular policy. Obviously if the NCB is protected then it may/may not be depending on previous claims you may have had.

Depending on the question your particular insurer(s) ask, you may have to declare the claim on renewal on all other other policies. This may increase your premium, it may not as this is company dependent. Be carefull on renewal of the other policies, if you are asked 'have you had any claims we are unaware of' then you must declare, if you are not asked - then you can leave it (totally up to you) however this may come back to haunt you later. My advice is to be truthfull as insurance is based on the premise of 'upmost good faith'

Hope this helps

Steve

doncorleone1

thanks for that reply just another quick question
the policy i was asking about was a new policy with no NCB and thats the one that had a claim, but the other cars have full NCB so am i right in understanding that it will not affect the other policies at renewal as someone has told me that the premiums will be increased because of this. thanks again

rvn_2

The NCB on the other policies will not be effected, however you may see an increase when you declare the claim to your other insurers when the policies come up for renewal.

As I stated, you may not as if they are different companies then they have sustained no loss so sometime the 'first' claim declared doesn't effect polices with a DIFFERENT company. If all cars are with the same company then the premium may be effected as they can class the claim as a loss to them. this normally however only increases the premium(s) by around 10%

People also forget to haggle as well on renewal! If your through a broker, then look to haggle around 5-10% off anyway are brokers normally have a 'margin' of commsion of around 15-17%. as this is how they make their money so to retain your business they will cut this rather than loose you.

If your direct with a company then you may have more room to haggle, but remember (varies on idividual companies procedures) - don't get greedy and don't compare online quote to quotes over the phone. Vastly differrent kettle of fish that one.

doncorleone1

thanks rvn for your replies it was exactly what i needed cheers

rvn_2

I'm glad to share my knowledge as recently left the insurance industry to care for my disabled wife and our children so its nice to still be able to use my skills

Anything further i can do please let me know