is this correct... insurance company :(

[Jez]

5 is maximum, isnt it?

 

[Fr0dders]

chap says on the phone i had a maximum of 8...

his insurance co said 8 earlier

 

[VFR_KID]

Once an insurer pays out on a total loss claim, the policy is complete.

When you pay monthly for a car insurance policy, you are not infact paying monthly for a car insurance policy. You are paying for a finance agreement which has been used to pay the policy in full at the beginning of the policy.

Therefore you must continue to pay because you still owe them the money.

What he said.

I was in the same position a few years ago.

 

[_Jimlad_]

well the chap i spoke to said 5 is the standard recognised maximum, but some insurers will continue to give discount on 5+ some wont, so having 25 or 5 can be the same discount depending on who you are with, but a claim will knock you down from whatever you are on to 3. then again down to 1 and then no claims discount

 

[Jez]

his insurance co said 8 earlier

Pretty sure 5 is the industry recognised "maximum" for discount?

well the chap i spoke to said 5 is the standard recognised maximum, but some insurers will continue to give discount on 5+ some wont, so having 25 or 5 can be the same discount depending on who you are with, but a claim will knock you down from whatever you are on to 3. then again down to 1 and then no claims discount

Sounds right to me

 

[_Jimlad_]

oh well, insured now on my new motor, its all part of life i guess

 

[AtreuS]

Thats why its worth trying to haggle a cheap protected no claims onto your policy. Most times i can haggle it for free or maybe a small charge like £20.


Hope you get it sorted anyway, these things can drag on for years.

 

[_Jimlad_]

Thats why its worth trying to haggle a cheap protected no claims onto your policy. Most times i can haggle it for free or maybe a small charge like £20.


Hope you get it sorted anyway, these things can drag on for years.

to be fair the protected no claims is a bit of a con, my misses had it, and when you fill out on the form you had a fault crash it whacks your premium up anyway, that seems to do the damage

 

[Ring Peace]

Once an insurer pays out on a total loss claim, the policy is complete.

When you pay monthly for a car insurance policy, you are not infact paying monthly for a car insurance policy. You are paying for a finance agreement which has been used to pay the policy in full at the beginning of the policy.

Therefore you must continue to pay because you still owe them the money.

Why do people carry on posting when the question has been answered so succinctly above?

 

[matthab]

I thought if you ended your policy they refunded the remaining cost back (in this case back to the finance company) and just charged a fee for cancelling?

 

[Fr0dders]

Why do people carry on posting when the question has been answered so succinctly above?

because the OP asked another question asking if him going back to 3 years NCB was right ?

 

[Hxc]

So by allowing you to continue insuring another car they are in effect losing money they'd normally get? I was allowed to transfer my insurance to my new mini after i crashed my old one at no cost.

 

[_Jimlad_]

Why do people carry on posting when the question has been answered so succinctly above?

lots of other sub topics have been talked about and i for one have learnt somethings

So by allowing you to continue insuring another car they are in effect losing money they'd normally get? I was allowed to transfer my insurance to my new mini after i crashed my old one at no cost.

They would have let me do that to be fair, but i was with a 4x4 specialist and the best they could do on a normal car was double the price i got elsewhere