car insurance question

zon

i was involved in an accident in summer 2010 and my then insurance company had to pay third party damages but i did not claim for the damage on my car.
does this mean i have lost my no claims bonus????

vaio

yep, normal is nothing for the year of the accident and loss of two years.

zon

so does that leave me with zero ncb? i had 3 year ncb and it was actually paid out his year so what happens?

System

zon wrote: »

so does that leave me with zero ncb? i had 3 year ncb and it was actually paid out his year so what happens?

Your policy documents will tell you exactly how your particular insurance policy impacts on your NCD after a claim. Policies differ, so answers on here can only be general and not specific unless you need help finding the info (i.e. you have lost your documents) then we would need to know which is your insurance company.

Also, I assume you do not have "Protected NCD" ?

zon

my then company was equity red star
and i do not have protected NCB.

i bought my car in 2008 and i had the accident last year.

System

You can find your policy wording here : http://www.equityredstar.co.uk/equityredstar/uploads/vacancies/PCERS_0811_.pdf
Note, this is as from August 2011.

Assuming the T&Cs have not changed, this is what happens:

No claim bonus
If a claim is not made under this insurance during the periods shown below, we will reduce your
renewal premium as follows:
Number of years with no claim Reduction
One year 30%
Two years 40%
Three years 50%
Four years 60%
If only one claim is made in any period of insurance, and if the terms and conditions do not change, any
no claim bonus which you have earned will be reduced at your next renewal as follows.
From 60% to 40%
From 50% to 30%
From 40% or 30% to nil
If two or more claims are made in any period of insurance, you will lose your no claim bonus. If more
than one vehicle is covered by this insurance, we will assess the no claim bonus for each vehicle.
If your vehicle is written off, and you transfer the insurance to a replacement vehicle, we will not
transfer any no claim bonus unless we agree otherwise.

i.e.
If as you said you had 3 years NCB = 50% discount
So after the one claim, that will reduce to 30% discount
P.S.
BUT .... are you sure you had earned 3 years NCB ? if the claim was during the 3rd year, then you only had 2 years (40%) discount and hence it would be reduced to nil if that were the case.

zon

thank you for the help mate but im still a bit lost
i have changed companies since then so how would i apply this for my next renewal which is coming up in November? i still have to indicated a claim wihtin the last 3 years and 1 year ccb right?

Quentin

zon wrote: »

i have changed companies since then so how would i apply this for my next renewal which is coming up in November? i still have to indicated a claim wihtin the last 3 years and 1 year ccb right?

Your current company will be sending you a renewal notice which will show your NCD.

You do have to disclose the incident to any new insurer you contact for a quote.

zon

yes i have the renewal notice with the 3 years ncb. i want to know if i lose everthing or still have 1 year ncb as the incident happened june 2010

Quentin

Your renewal notice shows your NCB, which is all you need as proof.

lisyloo

Did your accident occur after getting your renewal notice by any chance?