protected no claims?

Question

hi all
i have paided for my no claims to be protected '6 years' protected no claims.
my insurance renewal is now due in 2 weeks
today someone hit my car , so anyway the question is now that i have claimed on my insurance and its protected'this is the first time claiming'
when i am asked' by another insurance company if i renew somewhere else' if i have made any claims in the last 3 years or what ever, do i tell them, or does the proctected no claims mean i dont have to as it was protected so hence insurance does not go up ' you are allowed 2 claims in 3 years 'england'.
'does protected mean any claims made do not have to be counted as claims' ??

Answer 1

It is unfortunate that the accident has occured close to renewal date for the following reasons:

1) First of all: your no claims bonus is still protected - you will still have 6 years no claims bonus BUT

2) You are presumably making a claim on your insurance policy for the damage done to the vehicle - if you are third party/ TPFT then you can just advise your insurance company 'for information purposes only' - which makes life a lot easier, you declare the accident as 'non-fault'. Please note that if the circumstances are disputed you would have to ask your insurance company to protect you and then the accident is regarded as 'fault' until/ unless settled 100% in your favour (and if you have switched advise your new insurers that the claim has been made). If these are the circumstances you must still advise any future insurers but omit step 3:

3) As you are making a claim, the insurance company will pay for your repairs however in the market this is noted as a 'fault claim' as they have not, as yet, got their money back.

4) Now the problem. Many companies won't accept a new risk on a protected bonus with a 'fault claim' against them or will load the premium to take into account the 'fault claim'.

5) If the former then your choices at renewal to switch are limited even though you may qualify in the future you do not do as yet. - this is why the timing of the incident is unfortunate.

6) If the latter then IFF the claim is settled in your favour i.e. your insurer makes a full recovery (and you get your excess back) the claim will be amended to a 'non-fault' claim and if you tell your new insurers your premium will be amended.

7) Thus: at the moment you must declare the incident and admit that your no claims bonus would have been affected.

8) If you do switch keep asking your current insurance company what the position is on the claim and once they settle it allowing your bonus advise your new insurance company - they will amend their records - and may reduce your premium backdated to the time you took out the policy.

9) Alternatively get a professional insurance broker to act on your behalf.

Answer 2

You still need to disclose the claim yes, all it means is your current insurer won't reduce your No Claims Bonus (NCB) entitlement as a result of having made the claim.

Protected NCB varies from insurer to insurer but generally speaking it allows 2 'fault' claims in either a 3 or 5 year period without loss of NCB. Other solutions include Guaranteed NCB where regardless of the number of claims made, your NCB will not be reduced.

It's important to note that having a protected or guaranteed NCB does NOT mean your insurance premium won't increase in the event of any other changes to the risk, or indeed that additional loadings may not apply in the event of adverse experience or other relevant factors (ie convictions, vehicle type/security etc)

Answer 3

You have to tell the insurance companies you have made a claim as they share the same information.
Protected no claims normally allows you to make two or three claims in three years.But a claim is a claim. you will need to retain the renewal notice showing insurance history with your current insurer as proof anyway.
It sounds from what you say it wasn't your fault as someone has hit your car unless they didn't give you any insurance details. unless you are are going to make a claim on your insurance..?

Answer 4

hi you have been instructed different memories by using fact different coverage companies do countless issues. some will enable a million declare a 365 days devoid of loss of NCB. some will enable you 2. Others should help declare a million a 365 days yet you in basic terms lose 3 years NCB quite of the traditional 9 years finished NCB. At one time you could have averaged 10 % in line with 365 days for the 1st say 5 years then 5 % in line with 365 days after that so giving approximately 70 % for finished NCB. To be honest you will ought to examine inclusive of your guy or woman coverage business enterprise. Or examine your coverage. Andy C

Answer 5

You will have to tell them as most insurance companies have share the same information.Protected no claims normally allows you to make three claims in three years.But claim is a claim.

Answer 6

You tell them, yes, you got hit today.

All claims have to be declared. Let the insurance company decide if they're to be counted or not.

Answer 7

Claims are still counted but you still get your premium discount.

Your premium will be calculated with your claim attched and then you will have a % reduction due to your no claims (still 6 years).

Answer 8

protected means that you should keep the NCB but you will need to disclose the accident to new insurers

Answer 9

You tell them and you tell them the matter is unsettled