Author Topic: No claims discount  (Read 961 times)

hemming

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No claims discount
« on: September 09, 2022, 05:04:10 PM »
About 3 weeks ago my wife had a minor graze with a stationary car (obviously her fault!). The other driver surprisingly drove of before we could exchange pleasantries...Our Jazz had a couple of small bumper scuffs which I'll probably live with.
To be on the safe side I notified the police and our insurers (LV) on the day of the incident.
I have now had a letter from LV requesting an extra 98 in premium following their having reduced my no claims discount from 9 years to 4 years. During a phone conversation with LV today they say that they have had no contact from the other driver so effectively there is NO CLAIM as it stands. If this remains the case in 6 months time I may apply to have part on the 98 refunded (although they could not say that this necessarily be agreed).
Can anyone throw any light on whether this is standard practice please as it seems a bit unfair that I should be penalised when there is no sign of a claim?


Kremmen

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Re: No claims discount
« Reply #1 on: September 10, 2022, 06:35:30 AM »
I've read of some insurance companies penalising and raising premiums for any query phone call.

These no claims are misleading. Drivers expect no change when they have opted to protect it.

But, the company may increase your premium so for example 50% of 900 is higher than 50% of say your previous 500 before discount. But, your 50% ncd has been preserved as promised but they've still got you.

Let's be careful out there !

Westy36

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Re: No claims discount
« Reply #2 on: September 10, 2022, 08:08:44 AM »
Sorry to hear of the incident. You did the right thing by contacting your insurers as there was another vehicle involved. Sadly, even if no claim is made, the risk profile has changed and insurers will rate accordingly.

We need two bits of information here imho. The renewal date, and the date of incident.


ColinS

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Re: No claims discount
« Reply #3 on: September 10, 2022, 09:10:15 AM »
Sadly, even if no claim is made, the risk profile has changed and insurers will rate accordingly.

That is quite correct.  I had a similar scenario where no claim was made but I made an exploratory phone call to ask "What if I claimed", after which I never pursued it.  On renewal I phoned them (LV) and having fully explained the circumstances, they removed the record and lowered my premium.

DAN@ADRIAN FLUX

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Re: No claims discount
« Reply #4 on: September 12, 2022, 07:52:58 PM »
Hi.
Yes your insurer will leave the claim "open" for a certain period to allow time for third party to claim.
Regards,
Dan.

hemming

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Re: No claims discount
« Reply #5 on: September 13, 2022, 03:15:29 PM »
Thanks Dan.
Do you know what the chances are for getting a refund of the "additional premium" I've paid  if no claim is received please?

DAN@ADRIAN FLUX

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Re: No claims discount
« Reply #6 on: September 17, 2022, 07:49:30 PM »
Thanks Dan.
Do you know what the chances are for getting a refund of the "additional premium" I've paid  if no claim is received please?
Hi.
If they close the claim off with no claim made any additional premium you had paid for the temporary reduction in the NCD should be refunded once the NCD is reinstated.
Regards,
Dan.

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