Would anyone know how much I will have to pay APPROXIMATELY when no claims bonus is lost for next few years when I get just less than €2K for claim for water leak damage in home?
If 20%, then your premium will go up by 25% (100-20=80 and 20/80 =25%). You say that you get less than €2K for claim. Does this amount fix the damage? if so, what is the complaint, it is a NO CLAIM bonus - if you claim you lose it.
Thanks Ravima for replying. I know I will lose the NCB. But will I was told I will be paying a higher premium for the next four years. I was wondering would it be worth claiming for the €2K?
Hello Ravima, I paid 202.95 euro premium this year for home insurance.
The insurance company cannot say what I will be paying on top of the
insurance for losing No Claims Bonus next year. I would like an idea of
what I will be paying in the future and was wondering who anyone give me
an idea of whether it might be €5 or €500 each year for the next few years.
I thought someone might have claimed previously and could give me some idea of
amount. Tks
what is the NCB that you had pre claim? Work it from there.
If you had 20% ncb, then your premium was around €250 gross and €200 net of NCB. That means, that provided there is no indexation on your policy (increase of sums insured) or increase in general premium rates by insurer, then your policy next year would be €250.
your premium rises in accordance with the amount of risk and claims at the date of renewal of your policy. That is why they cant tell you what you will pay, it is merely a guess. From a person who works a small bit in the industry the rates have risen due to the massive increase in claims in the resession as people are now claiming for items they would not have claimed for a few years ago as they dont have the free cash for repairs.