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Hello > Claims > Flashcards

Claims Flashcards

1
Q

What is a claim?

A

A motor insurance claim is a demand from the customer to compensate for the loss they incurred by way of repairing/replacing the car.

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2
Q

What is a fault claim?

A

If the company cannot get their money back for a claim.

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3
Q

If a customer has an outstanding claim that has not been determined for and they call for a quote, how will the insurance company view this?

A

As a fault claim

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4
Q

If there were two parties involved and both were equally liable for the accident, and both individuals companies paid towards the claim, would it be fault or non-fault claim?

A

Fault

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5
Q

What is a non-fault claim?

A

When the company can get their money back. Only if both claims cost and the excess was received then the claim can be classed as a non fault claim.

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6
Q

If you have a non-fault claim what does it mean for your excess?

A

You should be able to recover the excess that you paid from the TP.

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7
Q

Are windscreen claims fault or non-fault claims?

A

Non-fault because the pay out is very minimal.

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8
Q

From how many years do we need to know about previous claims?

A

5 previous years

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9
Q

Why do we need to know about previous claims?

A

They help us determine how likely it is for the customer to claim.

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10
Q

Who do we need to know previous claims history from?

A

All drivers named in the policy even if the claim was made against another policy, drivers who made a claim on the customer’s policy but are no longer names on it.

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11
Q

Someone crashes into the customer’s car with a shopping trolley. The customer does not know who caused the damage. Fault/non-fault?

A

Fault

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12
Q

The customer’s car is stolen and found burnt out. Fault/non-fault?

A

Fault

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13
Q

A neighbour reverses into the customer’s car. The car has been repaired and they have received their excess by cheque. Fault/non-fault?

A

Non-fault

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14
Q

The customer was involved in an accident that they have said isn’t their fault. They have paid their excess and the insurance company has now said that the claim has concluded and they will not receive the cost of the excess back. Fault/non-fault?

A

Fault

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15
Q

A builder dropped a roof tile on the vehicle. The car has been repaired and the contractor has reimbursed the claim cost. Fault/non-fault?

A

Non-fault

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16
Q

What happens in insurance write-offs?

A

When insurance companies decide not to repair the car but to write it off. The customer gets compensated by financial settlement.

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17
Q

How much will the customer get in an insurance write-off?

A

The market value of the car minus excesses

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18
Q

What is an economic write off?

A

Cost of the repairs are more than the vehicle is worth.

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19
Q

What are safety write offs?

A

The damage to the vehicle cannot be repaired to a level where it would be completely safe to drive.

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20
Q

What happens to safety written off vehicle?

A

Normally they are destroyed.

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21
Q

What options can the customer sometimes face with economic write-offs?

A

They can buy it back from the insurance company or receive it as part of the settlement.

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22
Q

If the customer buys the economic write off vehicle back from the insurance company, what do they need to do to get another policy?

A

Possibly another MOT and a Engineer’s Report before they can be quoted. (IMS)

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23
Q

What does NCB stand for?

A

No claims bonus

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24
Q

What is NCB/NCD?

A

For every year that the customer has insurance on a car and is claim-free, they earn a no claims discount.

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25
Q

What is the maximum NCB a customer can get?

A

9 years. If they have any more, we still only give them a mix of 9.

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26
Q

How do we establish a customers no claims bonus?

A

In years

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27
Q

How do we check if a customer has NCB?

A

By written proof. Without it, we cannot give the discount and the customer will need to pay an additional premium or the policy might be cancelled.

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28
Q

Who earns the NCB?

A

The policy holder only

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29
Q

Can NCB be earned by named drivers?

A

No

30
Q

Can NCB be transfered to another person?

A

Only if they are married and the insurer agrees.

31
Q

In what scenario can you lose a NCB?

A

If you have a fault claim. You can loose 2 years of the amount you’ve earned but if you have protection, you won’t lose any years on the first fault claim, you will lose the protection on the second and lose the 2 years on the third.

32
Q

If a customer has max amount of NCB, no protection and they make a fault claim, do they lose NCB?

A

They loose 2 years so their discount will be counted of 7 years. If they have earned more than the max amount of years, it will still be counted from the max we give which is 9.

33
Q

What can I do for me not to lose my NCB?

A

NCB can be protected

34
Q

How many cars can you cover with NCB?

A

Only one. But you can build up many sets of NCB by having policies on different vehicles at the same time.

35
Q

If the customer buys a second car, can they use their NCB on it?

A

No, it’s not transferrable.

36
Q

Do I lose NCB if I move abroad?

A

If you are uninsured for more than two years.

37
Q

Can I transfer my NCB from another country?

A

Possibly. Not with KwikFit.

38
Q

I have had a company car for 10 years and now I have changed jobs, and lost my company car. I want to start my own insurance, however I don’t have any NCB.

A

You may get an introductory discount but need written proof of the claim free driving experience from the employer who provided the company car. You will still only get a NCB for each year insured.

39
Q

If I have a second car, can I use my current NCB on that too?

A

No but you might be offered a discount if you have NCB on the first car. You’ll need proof of 3/5 years claim free driving though and it depends of the underwriting company and normally is acceptable if the 2nd car is insured by a spouse.

40
Q

The customer had 3 years NCB at the beginning of their year’s insurance policy. They have had a non-fault claim. How much NCB?

A

Four

41
Q

The customer has just completed their first year of insurance and has had a theft claim. How much NCB?

A

Zero

42
Q

What is NCB protection?

A

A customer can pay an additional amount and protect their NCB, which means even if they were to have a fault accident their no claims bonus will still remain at their current level.

43
Q

What is the minimum NCB you need to protect it?

A

4 or more years

44
Q

Can I add NCB protection mid policy?

A

Nope, only at inception or renewal

45
Q

Does protecting NCB mean my premium next year won’t increase?

A

No

46
Q

Where are motoring convictions shown?

A

On the customer’s driving license

47
Q

When can motoring convictions be removed?

A

4 years after the conviction date if they have requested a new license

48
Q

What period of time does the customer need to make the insurance company aware of their motoring convictions?

A

By law, convictions and fixed penalties must be disclosed until they are spent, which is 5 years after the conviction date.

49
Q

What details do we need to update the conviction on our system?

A

Conviction type, date of the conviciton, points on the license, fine amount paid, whether conviction lead to a driving ban and if so what the lenght of it was.

50
Q

What is SP10-SP50 code for?

A

Speeding

51
Q

What is TS10-TS50 code for?

A

Running red light

52
Q

What is TT99 code for?

A

Totting up

53
Q

What is IN10 code for?

A

Driving uninsured

54
Q

What is DR10-DR90 code for?

A

Drink driving

55
Q

Do motoring convictions from other countries need to be disclosed?

A

Yes, we need as much info to compare it to the UK equivalents and pass to the IMS.

56
Q

What happens if I have a pending conviction?

A

As there is no code yet, we do not need to record them.

57
Q

What does totting up mean?

A

Where the driver has reached a total of 12 points or more and they are automatically banned. The automatic ban comes with a special conviction for totting up, and this replaces the codes that led up to it.

58
Q

When entering motoring convictions, what do you need?

A

The code on the license, if in UK. If abroad, as much info as possible to compare to the UK equivalents and pass to IMS.

59
Q

If the customer had a conviction for totting up, what do we need?

A

The code on the license as well as details of all the convictions that led up to it.

60
Q

What if the customer doesn’t know their codes for their motoring convictions?

A

They need to get the information from DVLA or the courts. Before that you cannot proceed with the quote.

61
Q

What is the most favourable license?

A

Full UK license because they are most used to the Uk roads

62
Q

What are the types of driving license accepted?

A

Full UK, provisional, EU, foreign, international, restricted

63
Q

How can drivers with provisional license be insured?

A

Under their own policy and added as a named driver on someone else’s policy. Provisional drivers must be accompanied by someone over 21 with min 3 years driving experience on full UK license.

64
Q

How can drivers with EU license be insured?

A

Same as full UK. They are legal to drive in the UK until their license expires.

65
Q

How can drivers with foreign license be insured?

A

Their license is valid for 1 year upon entry to UK. After that it needs to be exchanged to full UK or they need to sit a full UK test. Depends of the country.

66
Q

How can drivers with international license be insured?

A

Countries outside of EU licenses can be changed to international and it is valid for a year upon entry to UK.

67
Q

How can drivers with restricted license be insured?

A

This is for drivers with disability. We need to know about the restrictions and how long the license is valid for. After 70yrs the license is renewed every 3 yrs.

68
Q

Why is getting the license date important?

A

It tells us how long they have been driving and affects their premium. If they have had to re-sit their driving test, the license date will be the date they got their license back.

69
Q

Can disabilities or medical conditions affect the premium?

A

No but they do need to be noted and they have had to been informed to DVLA.

70
Q

What period of time do we need to have a customers criminal conviction dates from?

A

Only if it’s not spent

71
Q

What info do we need of criminal convictions?

A

The offence, conviction date and penalty received as well as if it’s spent. We always need to know!

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