Insurance question

K

k3ab

Member
I have 2 cars with 2 different insurers. Both have no claims bonus 3 and 2 years respectively.

I have scratched one of my cars (all accross the door and wing) - looks like it will have to be an insurance job.

If I make a claim to have the damage repaired, I know i have to declare it to the other insurance company.

I am trying to establish if paying for the repair myself would work out cheaper in the long term than paying an increase on both premiums for the next 3 years.

My question is - the two insurance policies have separate no claims bonuses. Therefore if I lose no claims on one policy, the other is unaffected, right?

I know the premium on both policies will go up so I am thinking of doing web based quotes with both to see how much they go up by with the one claim and compare that to the cost of paying for the repair myself. Unfortunately the gash runs accross the door and the rear wing, so I think it is going to run into thousands of pounds to repair properly.
 
I had a "to claim or not to claim" dilema recently with a scrach on my Z4 bumper. In the end I just rang my insurer and talked through what my premium would go up by if I claimed etc. They were really great. In the end i claimed as it was cheaper overall. I'd give them a ring and explain the situation, you will be able to get a much clearer picture of what it will cost you in real terms.
 
They may have separate 'no claim discount' but if you have claimed within the last 5 years, this would make your premium go up for both cars.

It's really annoying. But if you do end up going through insurance, insist on using a repairer that you know and trust :thumbsup:
 
Raify said:
Have you got to separate no claims discounts? How did you manage that?
Click to expand...

I have 4 cars, and each have their own no claims discount. Each time I buy a car, you start with next to nothing (just the usual age discount etc), then you build that one up to max no claim.

Re the OP question - the insurance company states that all claims or losses need to be declared (unfair, I know, even if you drop your bike against the car it is a loss). So whether you claim or not, your premium still will go up as you are now in the higher risk class determined by some warped statistics that if you had an accident / claim / whatever, you are more likely to have another one in the next few years.
 
i have just got a 2nd car, i managed to get full no claims on the 2nd car just because i had full claims on first car, normally you have to build no claims on each car

i double checked this with them, sent them an email confirming this was correct -AXA insurance

even so, if you make a claim on any car it effects both or all your policies
 
pvr said:
Raify said:
Have you got to separate no claims discounts? How did you manage that?
Click to expand...

I have 4 cars, and each have their own no claims discount. Each time I buy a car, you start with next to nothing (just the usual age discount etc), then you build that one up to max no claim.

Re the OP question - the insurance company states that all claims or losses need to be declared (unfair, I know, even if you drop your bike against the car it is a loss). So whether you claim or not, your premium still will go up as you are now in the higher risk class determined by some warped statistics that if you had an accident / claim / whatever, you are more likely to have another one in the next few years.
Click to expand...

I know that however it will go up even more if it was a claim, rather than just a disclosure. Most people will not disclose a loss anyway if paying out of own pocket - insurance company won't waste time investigating if I dropped my bike against my car and then paid for the dent to be repaired, and i'm not arguing it is right, because I know inurance policy clearly states you have to, but still.

Has anyone had a similar situation? Claim off one policy and see the other policy go up as a result of registering the claim, and if so, should I expect both policies to be inflated over 5 years?

I will have to take all of this into consideration when making a decision of whether to pay for it myself or claim off insurance.
 
Mrs PVR cracked a license plate in a car park 3 years ago, she was a named driver on my policy of the M and it would increase the premium by £150 on my insurance so I dropped her off at the time.

It added about £75 on her own car.
 
pvr said:
Mrs PVR cracked a license plate in a car park 3 years ago, she was a named driver on my policy of the M and it would increase the premium by £150 on my insurance so I dropped her off at the time.

It added about £75 on her own car.
Click to expand...

cracked a licence plate? So you weren't claiming, just disclosing the incident?
 
No - Mrs PVR cracked a license plate from a Volvo with the X5. That person insisted in going through the insurance for the £50 it cost to fix and that claim increased the policy cost on any policy my wife was a named driver on.
 
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