I own two vehicles, both registered in my name, both insured by myself, and both with my wife as a named driver. I have full no claims on both. Each costs some £400 per year for fully comp insurance.
My wife recently had a small accident which will cost £600 to repair. The other vehicle was a foreign lorry, undamaged.
I am concerned that if I claim from my insurance company I risk losing all or part of my no claims discount on both vehicles. This could well cost me more than £600.
I would welcome advice on:
- whether to make a claim
- how in the future I can set up my insurances to avoid both no claims discounts being affected.
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So, to summarise, you want your cake AND eat it?
Most insurance companies will NOT give full NCB entitlement on 2nd vehicles with others named -
(after all, if only you - fair enough, but others named smacks of main policy holder getting "cheap" for other person(s) to actually be main driver.)
To answer your question - you MUST advise your insurance company of the incident.
If you do not, you are breaching one of the major contract conditions.
You may advise that this is a NO-CLAIM report, but you MUST report.
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Trevor. Are you a Teacher per chance??
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I don't agree to 'cake and eating it'...
Maybe so for the insurance companies though. I've a similar situation with two bikes and a car - but only me as named driver.
NCB has to be earned individually on each policy, but a claim for any one will zap the NCB of the others - maybe not the NCB, but the question of 'have you had an accident in the last xxx years' will certainly bump the premium up.
Martin
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>>So, to summarise, you want your cake AND eat it?
Sometimes Trevor, you are a right pain. Did you even read the questions ?? If you haven't got anything relevant or helpful to say, try saying nothing.
>>- whether to make a claim
>>- how in the future I can set up my insurances to avoid both no claims discounts being affected.
You should only lose part of the bonus on one vehicle, and not even that if it is protected. However, either way there will be an increase in cost of insurance next year.
In your estimate of repair, have you factored in any excess that you may need to pay if you do claim ?
You need to work out something like this;
Accident..$600
Excess....$100
Claim.....$500
Expected Renewal premium.....$400
After claim renewal premium..$600
Loss in first year...........$200
Loss in second year..........$100
Benefit in claiming = $500 - ($200 + $100) = $200
Why do you think that any of this would affect the bonus on both vehicles ?? It is most unlikely.
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Seasons Greetings Mark.
Is yr stay in Uk going to be brief as you still have your us/en keyboard setting??
:-)
New year resolution: - "be kind to Trevor"
HappyMotoring Phil I
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Seasons Greetings, Phil.
I have several different laptops and I try to separate all work dealings/files and the social stuff. The laptop I use socially, this one, is an old US Compaq Armada.
And as for staying in the UK, 2 - 3 years I reckon.
As for the New Year resolution suggestion, I will do my best.
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I would certainly suggest you talk to your insurance company and give them all the facts.
If you have full NCB you may well have it protected. This being the case you may not lose any NCB. However, next years premiums could go up slightly to take your wife's accident into account.
If your NCB is to be affected (assuming you do claim) then you may find that only one NCB is affected and not the other - I may be wrong.
In any case you should get the facts and figures in terms of increased costs from both insurance companies and make a decision based on that as to whether you are going to claim.
As to how to set up policies, I have in the past used my one NCB on my more expensive car and gone to a company that gives a 2nd car discount on the 2nd car. All they would need is the proof of NCB on the main car.
NIG actually offer a guaranteed NCB (that's who I'm with on my Xantia). The same company gave me a 2nd car discount that was an equivilent %age to my NCB on the main car. Unfortunately they wouldn't do it for my Recently acquired Renault Trafic van, but others will.
Have a great Christmas and happy new year.
Hugo
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Assuming you have got two separate insurance policies, not two cars on one policy...
All insurance companies want to know the history of all named drivers. When you apply for insurance, they will always ask, "Have you or any named driver made any claims in the last X years?". Sometimes they may ask, "Have you or any named drivers had any accidents in the last X years?".
So you should declare the accident to both insurers, and next year's premium on one car could be affected by the accident to the other (though probably not the NCB).
Ian
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Just to add to my previous posting...
I also own two vehicles, both registered in my name. Unlike "jcb", one of them is insured in my name (with full NCB) with my wife as named driver, and the other is insured in my wife's name (with full NCB) with me as the named driver. The insurers don't seem to be bothered that my wife is not the owner/keeper of her vehicle.
I often wonder if this is cost-effective. But it is simple to operate (and what I wrote in the previous posting certainly applies to me!).
Ian
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As previous posts have said - I didn't think you could accrue NCB on two policies if you are the main driver. However both companies will take it into consideration. You definitely have to notify both Ins Co's of the bump even though it doesn't affect one of the cars.
Incidentally if your wife is on the policy as a "named driver" but is infact the main driver you are probably in breach of your contract with the Ins Co. The Ins Co is entitled to withold payment if they find out the you are not the main driver. Despite warning people in the past I know of students (who's parents supplied a car to them but insured them as a named driver) had to fork out from their own pockets to cover the cost of repairs.
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NCD is relevant to the Policyholder. So if you have 10 cars insured on private motor policies, you can accrue 10 lots of NCD. Who the main driver may be is not relevant to NCD, although it may be to the rating.
Whether you have 10 cars on one policy or on 10 separate policies is not relevant and has no effect on bonus accrual.
The insurance company may not withhold TP payments, only own damage stuff. They are, however, entitled to recover all losees and expenses from you if you are in breach of policy ts&cs.
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HI
I would advise the insurance on a no claim basis that does not affect your premium. If you claim you may loose some of the NCB ,the premiums wil rise for 2 -3 years and cost more than the 600 pounds
This assumes that you have an wish to spend the money
regards
alan
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