GBMUD Posted December 4, 2008 Share Posted December 4, 2008 In the spring this year I had a couple of unfortunate incidents involving my Landrover and other road traffic. Some cars were damaged, gladly no people were hurt. When my insurance was due for renewal in July both claims were outstanding and the NFU reduced my NCB from 65% to 50% (one year for each accident under the terms of my protected NCB agreement) and charged me an increased renewal premium accordingly - £800 for the 110 and a small Mazda. I have heard nothing from the insurance company with regard to liability, settlement costs etc., so I called them in search of answers. Apparently the first claim has been settled in my favour, no payout, no blame. The second claim was my fault, I never denied it and they have had to pay out £4,648.31 for repairs to my and the other party's car. So, the question is, since I was not at fault in the first accident, should the NFU now return me some money based on the fact that I had only had one at fault accident at renewal - i.e. give me back an amount equal to any extra loading on the premium occasioned by calculating based on two accidents not one AND give me back the money for the extra 10% NCB which I was denied at renewal? Do you think that they will? Any advice? NFU called back before I clicked the button so I have an extra question. I will not spoil the fun of the first question - it remains unanswered anyway. How do insurance companies calculate the premium? Am I right in thinking is is something like: Basic premium for car + % loading for driver + % loading for address + % loading for accidents - NCB + Insurance premium tax = Premium payable? If not, how do they arrive at a figure? Thanks Chris Quote Link to comment Share on other sites More sharing options...
disco_al Posted December 4, 2008 Share Posted December 4, 2008 usually find that they seem to use the dartboard way of thinking...... most of the time it's down to age/postcode and the insurance grouping of the vehicle. mileage and use can make a difference, as well as your job title.....if you are in the motor trade for example, working at a factors (no similarity )and say you are telesales at a motor factors, the premium is higher, however, if you say customer services, it lowers the premium. by rights, yes you should get a reduction, as you only have one claim - not two Quote Link to comment Share on other sites More sharing options...
jeremy996 Posted December 4, 2008 Share Posted December 4, 2008 give me back an amount equal to any extra loading on the premium occasioned by calculating based on two accidents not one AND give me back the money for the extra 10% NCB which I was denied at renewal? Do you think that they will? Any advice? Yes, but they will often only do it if asked. (This is dependent on your summary of the contract details being entirely accurate). Often insurance contracts incorporate clauses that prohibit mid-policy premium changes, so you may be offered an allowance against next years policy rather than a change now. Where claims are unsettled at renewal time often they will make an "allowance"; if they allowed both outstanding claims at 50:50, you won't get anything now! NFU called back before I clicked the button so I have an extra question. I will not spoil the fun of the first question - it remains unanswered anyway.How do insurance companies calculate the premium? Am I right in thinking is is something like: Basic premium for car + % loading for driver + % loading for address + % loading for accidents - NCB + Insurance premium tax = Premium payable? Near enough. Don't forget charges for credit and any other voluntary extensions. Don't forget any other potential discounts like member of a club/additional driver training/affinity etc. Quote Link to comment Share on other sites More sharing options...
OilIT Posted December 4, 2008 Share Posted December 4, 2008 I understand it as:- you have had two claims. One was a no fault claim - which should have no impact on your renewal premium in terms of premium, the other was your fault so you would expect to see an increase in premium and reduction in ncb. I say this as when you complete a form for insurance, you have to state that you had two claims - then you are asked was it your fault or were you a no fault claimant. Quote Link to comment Share on other sites More sharing options...
TJ101 Posted December 4, 2008 Share Posted December 4, 2008 Chris They owe you,, As you are clearly entitled to the policy max No claims discount, And if that policy stated you lose one year discount for any one "At Fault Claim" it's unfair to pay a premium for 2 "At Fault Claims" Quote Link to comment Share on other sites More sharing options...
Les Henson Posted December 4, 2008 Share Posted December 4, 2008 I can't understand how they can state two when clearly there is only one. I know they ask you about any accidents - fault or not, but it seems to me that they should only charge you for the one. I was hit three times in a year - no fault of mine and it didn't affect my policy at all. Les. Quote Link to comment Share on other sites More sharing options...
J@mes Posted December 4, 2008 Share Posted December 4, 2008 I can't understand how they can state two when clearly there is only one. I know they ask you about any accidents - fault or not, but it seems to me that they should only charge you for the one. I was hit three times in a year - no fault of mine and it didn't affect my policy at all.Les. Different insurers I guess - I had a car damaged a few years ago when it was parked up and I never managed to prove who had done it. I rang my insurer and informed them of the situation (as you are supposed to) but told them that I would NOT be making a claim for the damage. When it came to renewal time, they still tried to load the premium up because I had suffered a "LOSS" against the vehicle for the damage! Quote Link to comment Share on other sites More sharing options...
the_mouse_man Posted December 4, 2008 Share Posted December 4, 2008 How do insurance companies calculate the premium? Am I right in thinking is is something like:Basic premium for car + % loading for driver + % loading for address + % loading for accidents - NCB + Insurance premium tax = Premium payable? If not, how do they arrive at a figure? Thanks Chris Not forgetting any loading applied for traffic offences, occupation (eg Publican and freelance musician yeah man!!!) all add cost too. As to the other question - sounds like they owe you to me too.. Quote Link to comment Share on other sites More sharing options...
will_warne Posted December 4, 2008 Share Posted December 4, 2008 Chris, as far as getting your NCB back that will entirely depend on the terms of the contract. If it is exactly as you put here (and there's nothing about accidents where you are not at fault affecting your NCB) then you should be able to get it back. Whether or not you get any money is another matter. Most likely I guess they will give you a credit towards next year or extend this years policy. Quote Link to comment Share on other sites More sharing options...
Mark90 Posted December 4, 2008 Share Posted December 4, 2008 Any money they might return will be charged as an admin fee for amending your policy Quote Link to comment Share on other sites More sharing options...
GBMUD Posted December 4, 2008 Author Share Posted December 4, 2008 Chris, as far as getting your NCB back that will entirely depend on the terms of the contract. If it is exactly as you put here (and there's nothing about accidents where you are not at fault affecting your NCB) then you should be able to get it back. Whether or not you get any money is another matter. Most likely I guess they will give you a credit towards next year or extend this years policy. My NCB is a No Claims Bonus, not a no crash bonus, no blame bonus etc. If I have not made a claim (i.e. they have not had to part with money) then I do not see I should loose any bonus - in fact I have had a few no fault crashes in the last couple of years, the NFU know about them and are quite happy. I would be happy with credit towards next years policy - as long as they add standard 8% interest. Any money they might return will be charged as an admin fee for amending your policy There speaks an Adrian Flux customer as sure as eggs is eggs. The NFU take a less mercenary attitude to such things and never seem to charge for adjustments and alterations. Thanks for the advice everyone. I am glad that I have understood (if simplified) the process by which an insurance premium is calculated. Chris Quote Link to comment Share on other sites More sharing options...
Guest WALFY Posted December 4, 2008 Share Posted December 4, 2008 Chris Quick question from an ex NFU employee. How are you still having a protected policy with the number of incidents you've had? Also Credit for next years policy In your dreams Interest at 8% In your dreams. Not my words, those of an ex NFU person Quote Link to comment Share on other sites More sharing options...
GBMUD Posted December 4, 2008 Author Share Posted December 4, 2008 ChrisQuick question from an ex NFU employee. How are you still having a protected policy with the number of incidents you've had? Also Credit for next years policy In your dreams Interest at 8% In your dreams. Not my words, those of an ex NFU person Well Mark. How do I know? More of a question for the ex-NFU person to field than me. In 18 years, 15 of which I was a professional driver, I have only one 'at fault' accident - hence the 65% NCD at the beginning of last years insurance. All the others have been non-fault - i.e. people running into me. I know that they will not protect less then 3 or 4 years bonus. Credit next year? Well, either that, a refund this year or a big argument and a complaint to the FSA. 8% interest. Well, a young lad can hold a dream can't he? Chris Quote Link to comment Share on other sites More sharing options...
bishbosh Posted December 4, 2008 Share Posted December 4, 2008 Chris, Years ago I had an accident (no fault, eventually) that wasn't resuolved before my renewal date so I had to renew with no no claims. When the case was eventually resolved in my favour (After much pestering on my part ) I was credited with the difference between a policy with no no claims and one with however many years I had. I am pretty sure I got a refund rather than a credit but can't be certain. I did change insurance companies pretty much every year back then though so a refund is pretty likely. I also got them to give me two renewal prices reflecting the two potential scenarios at the time of renewal which gave them no room to negotiate later B) Quote Link to comment Share on other sites More sharing options...
Orange Posted December 4, 2008 Share Posted December 4, 2008 Don't forget that your voluntary excess will also have an effect on the final premium. Even adding £100 to the compulsory one can make quite a difference.....or at least it does to somone with a little more youth on their side I tend to use this as a way to get my premiums down while I'm building my NCB up after a fault accident 2 years ago. Quote Link to comment Share on other sites More sharing options...
JST Posted December 5, 2008 Share Posted December 5, 2008 to me it seems you only had one outstanding claim at date of renewal rather than the 2 outstanding at date of renewal quote being sent. they should adjust it accordingly. Quote Link to comment Share on other sites More sharing options...
Exmoor Beast Posted December 5, 2008 Share Posted December 5, 2008 Just as an aside £800 sounds a bit steep for those two cars Chris My 110 and Freelander come to barely £500 for the pair both FC, with Adrian Flux and NFU respectively. Will Quote Link to comment Share on other sites More sharing options...
GBMUD Posted December 5, 2008 Author Share Posted December 5, 2008 Just as an aside £800 sounds a bit steep for those two cars Chris My 110 and Freelander come to barely £500 for the pair both FC, with Adrian Flux and NFU respectively. Will Tell me about it. Chris Quote Link to comment Share on other sites More sharing options...
sotal Posted December 5, 2008 Share Posted December 5, 2008 Just ring them and ask! I had an accident on my motorbike about 5 years ago, when the renewal came through it was about 4 times as much as the year before because they were doing it with no NCB as I didn't have protected NCB and the blame hadn't been settled yet. They said if I took the policy out then, the accident was found to not be my fault then I would get a refund. At the time I couldn't afford the inflated insurance so I had to leave it in the garage until the claim was settled (about 6 months - luckily over winter) Then when the other party had admitted liability I got a new quote for insurance and carried on from there Quote Link to comment Share on other sites More sharing options...
GBMUD Posted December 5, 2008 Author Share Posted December 5, 2008 Just ring them and ask! I am waiting for an answer from a not over reliable 'office girl'. If I do not get a reply by Monday I will write them a letter explaining matters clearly. Chris Quote Link to comment Share on other sites More sharing options...
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