No Claims Bonus

M

mrc

Registered User
Messages
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Hi Guys,

My wife has just received her No Claims Statement in the post today...
She is insured through an AXA broker... She reckons her no claims should be 7 years yet the statement says
The actual number of years without claims on this policy is 2 years
The last recorded claims is "Settled 121 euro and third party"
The percentage NCD allowed is 70%

I have rang the agent and they tell me that even though it says 2 years it is the 70% part that insurance companies look at.. When I queried what the payout of oly 121 was about they could only guess at being an admin fee.

I know there was an accident on the policy on the date that the 121 settlement is for but both parties agreed to look after their own cars.... SImple Accident!

Why would someone use up their no claims bonus for 121 euro.

Can anybody shed some light on this ?

Is it the 70% that Insurance Companies look at as when she looks for quotes she tells them she has 7 years no claims bonus.

Cheers,
MrC
 
mrc said:
...

I have rang the agent and they tell me that even though it says 2 years it is the 70% part that insurance companies look at.. ...
Click to expand...
Sounds to me like the agent in question is talking rubbish.

Insurance companies look at the number of years claim-free as each insurance company allows different discounts per year, e.g. some allow 10% per annum claim-free up to a maximum of 5 years, others allow a sliding scale up to a maximum of 60%, and based on what you posted AXA allow up to 70%.

Has mrsc got a NCB protection clause in force on her insurance? There may be a rider at the foot of the AXA document she got. If she has, the next insurer might ignore the bonus thats protected under the current policy and only allow 2 years.

Lies, damn lies and insurance policies.
 
Did an assessor call out to look at either car before they decided to settle? Did the third party contact Axa in relation to their car before your wife settled?The assesor would have then had to be paid. Sounds like the assessors fee to me. I've come accross that in a few cases for example when the claim wasn't covered.
Axa haven't altered her bonus as she still has their max of 70% and this shouldn't affect her shopping around but they do have to state the amount they paid out on the bonus. If she tells other insurers that this was what the 121 was then they will probably be ok with that. Has her insurance gone up?
 
Thx for the info, yeah AXA did send out an assessor to look at the car at the time.

Hope that all it is.
 
mrc said:
Thx for the info, yeah AXA did send out an assessor to look at the car at the time.

Hope that all it is.
Click to expand...


I'm fairly sure thats what it is. The amount sounds about right. Axa had to pay the assessor. She could pay axa back the 121 if she finds she is havng problems getting quotes elsewhere. They would then issue a bonus without the 121 on it though it would probably still state 2 years. This isn't unusual though as many companies do this where the person has only been with them for 2 years or had an intro bonus. The most important thing is the 70% and this is what any other insurer will look at.
 
Cheers,

If I had of known at the time, I would have paid for the assessor myself.

Please God the 70% is what other companies will look at
 
I wouldn't worry about it, It's only a small amount.
I made a claim on my insurance due to vandalisim 2 years ago and it cost the ins co €800.
When I went shopping for new insurance this year my bonus cert said I had 5 years NCB but that a calim was made and it was fully settled.
When looking for new insurance I disclosed the claim and EVERY company I contacted said it was fine because it was a small amount and would not affect my NCB with them.


Mik
 
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