Motor Does accident in Co Vehicle affect personal No Claims Bonus

3

3CC

Registered User
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Hi,

I have part-time use of a company vehicle and also have my own car.

I had an accident in the company vehicle recently. I have to fill out an accident report form where they ask me if I have a private policy also.

Can anyone advise me if my personal NCB would be affected by this accident.

TIA

3CC
 
Hi 3CC, the honest answer is possibly.

The reason that you were asked if you had a private policy of your own is to help defray the costs of the claim, this is called Dual Indemnity. It applies if you have another policy that covers you for the same thing. For instance:- you crash works car into another car, and your own car policy allows for the driving of other vehicles that you don't own. The works car insurance would settle the claim and then seek to recover 1/2 of the cost paid to the other driver from your insurer. This will affect your NCB if this occurs.

If the works car accident ONLY involved damage to the works vehicle then the works car insurer wouldn't be able to recoup any loss from your insurer unless you have something called Comprehensive Extension (this allows you to drive any car that you don't own with the same cover as you pay for on your private vehicle)

Hope it all makes sense PM me if you like, I work for an insurance company.
 
Hi ACA,

Thanks for the quick response. I understand what you mean and I had never thought of that issue of Dual Indemnity.

There was no other vehicle involved in the accident (and no personal injury by the way) so I guess that I will be OK.

From what you say, having an accident in itself should not affect my personal NCB, only a claim on my personal policy would do that. Is that correct?
 
Hi 3CC,
having an accident in itself should not affect my personal NCB, only a claim on my personal policy would do that. Is that correct?
Click to expand...
100% correct. Technically you could be having accidents every other day without any effect on your NCB providing there is no claim from your policy.
 
There may also be a possible effect if you're shopping around for quotations for your private car. If a new company asks have you ever had an accident, fault or not, you will have to disclose the accident. Wherether this effects the quotation will be up to the insurance company.

www.powerinsurances.ie
 
ACA,
I am a public service employee in WI and I have been involved in 2 hit and run accidents in the last 18 months of which only 1 driver was caught. My license number was used in the police report and now my insurance company jacked up my rate. Why would this affect my personal insurance when I was driving a company vehicle on company time and the accidents were of no fault to me???
 
If by WI you mean Wisconsin, I doubt if anyone can help you here as this is an Irish site.
 
So what possible reason would a company car driver tell the company's insurer about private motor insurance that they may have?
 
As it wasn't my insurance policy,it wouldn't give me a moment's bother.It's not as if the company is going to pay my increased premiums.
 
vandriver said:
So what possible reason would a company car driver tell the company's insurer about private motor insurance that they may have?
Click to expand...

In order that the Insurance Company might be able to assess the correct level of risk. Fairly good reason IMO.
 
Well the insurance company for the company insurance don't ask about drivers additional personal insurance on other vehicles,at the time of policy inception,so it smacks of re-rating the risk when they have to pay out.
 
The principle of double insurance is explained in the policy conditions.

Anyway, whatever attempts you might make to justify your actions, if you deliberately answer a question on a claim form unthruthfully, that's fraud. Insurance fraud is estimated to cost €100 million per year, which is ultimately paid for by everyone else in increased premiums.
 
If you are driving a company vehicle, your own PRIVATE car insurance is NOT affected by any accident. That is your NCB will NOT be affected. If you have a motoring conviction, then that is another matter.

Lying can be deemed FRAUD.

If your COMPANY insurers then told your COMPANY that there was fraud, it would affect your COMPANY and possibly it's survival.

To be honest, most COMPANY insurers are aware that drivers more than likely have own private motor insurance, but as the private insurance does NOT contribute to commercial insurance policies, it does not matter.

In all insurance matters, the cheapest route if the honest route
 
"If you are driving a company vehicle, your own PRIVATE car insurance is NOT affected by any accident. That is your NCB will NOT be affected. If you have a motoring conviction, then that is another matter."

I thought the gist of this thread was exactly the opposite??
 
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