NCB no claim bonus issue
Discussion
Basics first
Broker for car insurance with holding NCB proof of no claims discount (protected)
basically holding it to ransom stating i owe money toward a premium for insurance
more detailed background on my issue...
Insured for modified car insurance via a broker
policy went into force, 10 days or there about later a mechanical fault caused a collision with roadside
broker couldn't be contacted, diverted to their solicitor who told me to contact my insurer directly
spoke to insurer, fast track claim put in over phone, insurer accepted my claim as a write off pending
engineer report
insurance paid out minus any deductions they needed to take from the payout (terms & conditions met)
direct debit was still set up on account thought it was odd to called to ensure my insurance policy as per terms & conditions of insurance stated would be canceled on receipt of any claim payout (any money owed deducted from this payout) to find it was still in force and the broker still expected a large sum of money for the policy premium, since have sent on to collection agency and denied my current insurance company the NCB proof of no claims
basically they are holding my proof as ransom, terms of the broker agreement were not met by them, monies owed should have been deducted prior to the payout going ahead, very certain i was also mis sold the policy to begin with as stated it was for a modified vehicle, i was clearly told via phone conversation i would be covered for cost or repair or replacement on a like for like basis of modifications in this case, suspension and remap ecu
amongst other issues i have the Broker clearly have access to the vehicle value prior to setting up a policy, they insured at estimated £1500, insurance paid out based on standard manufacturer value of £900, the broker in thier own word "cant take on a vehicle valued less than £1000"
very sticky situation,
terms by broker & insurer documents - the insurer failed to provide courtesy car cover as they stated the car was a fast track write off, took them about 3 weeks to even collect the car for an engineer to assess (start of school holidays left without a car till near end of august) so terms not met,
terms by insurer state - policy will be canceled at the time where a payout is made and any owed amounts deducted from any payout
terms by insurer - car will become property of theirs upon paying out on insurance claim but broker still has insurance on it belonging to me until cancelled
anyone got any clue how and who to go after to get my NCD sorted out
thinking a subject request for data under data protection act 1998 revision b
and complaint going into ombudsman once i make a complaint to broker about mis selling policy, not upholding terms / insurer not upholding value or modifications
Broker for car insurance with holding NCB proof of no claims discount (protected)
basically holding it to ransom stating i owe money toward a premium for insurance
more detailed background on my issue...
Insured for modified car insurance via a broker
policy went into force, 10 days or there about later a mechanical fault caused a collision with roadside
broker couldn't be contacted, diverted to their solicitor who told me to contact my insurer directly
spoke to insurer, fast track claim put in over phone, insurer accepted my claim as a write off pending
engineer report
insurance paid out minus any deductions they needed to take from the payout (terms & conditions met)
direct debit was still set up on account thought it was odd to called to ensure my insurance policy as per terms & conditions of insurance stated would be canceled on receipt of any claim payout (any money owed deducted from this payout) to find it was still in force and the broker still expected a large sum of money for the policy premium, since have sent on to collection agency and denied my current insurance company the NCB proof of no claims
basically they are holding my proof as ransom, terms of the broker agreement were not met by them, monies owed should have been deducted prior to the payout going ahead, very certain i was also mis sold the policy to begin with as stated it was for a modified vehicle, i was clearly told via phone conversation i would be covered for cost or repair or replacement on a like for like basis of modifications in this case, suspension and remap ecu
amongst other issues i have the Broker clearly have access to the vehicle value prior to setting up a policy, they insured at estimated £1500, insurance paid out based on standard manufacturer value of £900, the broker in thier own word "cant take on a vehicle valued less than £1000"
very sticky situation,
terms by broker & insurer documents - the insurer failed to provide courtesy car cover as they stated the car was a fast track write off, took them about 3 weeks to even collect the car for an engineer to assess (start of school holidays left without a car till near end of august) so terms not met,
terms by insurer state - policy will be canceled at the time where a payout is made and any owed amounts deducted from any payout
terms by insurer - car will become property of theirs upon paying out on insurance claim but broker still has insurance on it belonging to me until cancelled
anyone got any clue how and who to go after to get my NCD sorted out
thinking a subject request for data under data protection act 1998 revision b
and complaint going into ombudsman once i make a complaint to broker about mis selling policy, not upholding terms / insurer not upholding value or modifications
What NCD - you've just written a car off?
You seem to have a number of issues that you are not being clear about. I'd suggest you get it clear in your own mind which issues are with the underwriter and which with the broker.
Notwithstanding that, if you were paying monthly then the full years premium is still due - in effect you took out finance to allow you to pay an annual payment in instalments. You've claimed on the policy, pay for the policy.
You may or may not have a case re your other complaints, but you are on a hiding to nothing re paying for the policy.
You seem to have a number of issues that you are not being clear about. I'd suggest you get it clear in your own mind which issues are with the underwriter and which with the broker.
Notwithstanding that, if you were paying monthly then the full years premium is still due - in effect you took out finance to allow you to pay an annual payment in instalments. You've claimed on the policy, pay for the policy.
You may or may not have a case re your other complaints, but you are on a hiding to nothing re paying for the policy.
TooLateForAName said:
What NCD - you've just written a car off?
Notwithstanding that, if you were paying monthly then the full years premium is still due - in effect you took out finance to allow you to pay an annual payment in instalments. You've claimed on the policy, pay for the policy.
You may or may not have a case re your other complaints, but you are on a hiding to nothing re paying for the policy.
This is exactly what I see as the issue. Notwithstanding that, if you were paying monthly then the full years premium is still due - in effect you took out finance to allow you to pay an annual payment in instalments. You've claimed on the policy, pay for the policy.
You may or may not have a case re your other complaints, but you are on a hiding to nothing re paying for the policy.
OP, you need to pay for the rest of the policy before you can move on from this.
Your post is not that clear, but I see you were confused that the DD payments were still set up after the claim.
Your policy will be an annual policy, however you pay for it (e.g. monthly instalments). It is standard on most policies that you receive no return of premium when cancelled after a claim, so if you have stopped paying the instalments, you are still due to pay the premium for the whole year. Until such time as that has been done, I would consider it reasonable that the NCD proof is not released to you.
As I say your post is not that clear so I may have missed something, but that seems to be the case to me.
Your policy will be an annual policy, however you pay for it (e.g. monthly instalments). It is standard on most policies that you receive no return of premium when cancelled after a claim, so if you have stopped paying the instalments, you are still due to pay the premium for the whole year. Until such time as that has been done, I would consider it reasonable that the NCD proof is not released to you.
As I say your post is not that clear so I may have missed something, but that seems to be the case to me.
What deductions do you think the insurer has made?
I imagine they have deducted excess, but as said above, the full cost of the insurance policy is still to be paid.
Once that is settled I imagine they will issue with an updated NCB. As it was protected the number of years should remain the same.
To save you asking a later question, yes you still have to declare the accident and yes you are likely to pay an even higher premium regardless of having a 'protected' NCB/discount.
I imagine they have deducted excess, but as said above, the full cost of the insurance policy is still to be paid.
Once that is settled I imagine they will issue with an updated NCB. As it was protected the number of years should remain the same.
To save you asking a later question, yes you still have to declare the accident and yes you are likely to pay an even higher premium regardless of having a 'protected' NCB/discount.
As the post above mentioned - the deductions you talk about, does this include the remaining premium for your year of insurance?
All car insurance has to be paid for up front. When you "pay monthly" you are in fact paying back a loan for the full amount (plus interest) of your insurance, you aren't actually "paying your insurance" each month.
In your case, at inception your policy would have been paid for in full. Should the policy terminate early, you still owe the remaining premiums as these are repayments for a loan.
Of course, if those deductions you mention include the rest of the year's insurance then of course you wouldn't be expected to keep on making those monthly payments.
All car insurance has to be paid for up front. When you "pay monthly" you are in fact paying back a loan for the full amount (plus interest) of your insurance, you aren't actually "paying your insurance" each month.
In your case, at inception your policy would have been paid for in full. Should the policy terminate early, you still owe the remaining premiums as these are repayments for a loan.
Of course, if those deductions you mention include the rest of the year's insurance then of course you wouldn't be expected to keep on making those monthly payments.
MrBen1 said:
Your post is not that clear, but I see you were confused that the DD payments were still set up after the claim.
Your policy will be an annual policy, however you pay for it (e.g. monthly instalments). It is standard on most policies that you receive no return of premium when cancelled after a claim, so if you have stopped paying the instalments, you are still due to pay the premium for the whole year. Until such time as that has been done, I would consider it reasonable that the NCD proof is not released to you.
As I say your post is not that clear so I may have missed something, but that seems to be the case to me.
This, the pay-out always requires that you pay in full for the year of the policy.Your policy will be an annual policy, however you pay for it (e.g. monthly instalments). It is standard on most policies that you receive no return of premium when cancelled after a claim, so if you have stopped paying the instalments, you are still due to pay the premium for the whole year. Until such time as that has been done, I would consider it reasonable that the NCD proof is not released to you.
As I say your post is not that clear so I may have missed something, but that seems to be the case to me.
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