Private Car Comprehensive Policy

4. Frequently Asked Questions (FAQs)

Claims

1.  Will I always get the Insured’s Estimate of Value if my car suffers a total loss?

Not always. If your vehicle is a total loss (i.e. written off or stolen), we will repay the market value of the vehicle at the time of the accident (less your excess). Although it is not mandatory to provide a valuation each year, it is important to ensure your estimate of the vehicle value is up-to-date and accurate and we therefore recommend that you consider valuing your vehicle at each renewal. [Learn more]

2.  Will I lose my No Claim Discount if I have an accident?

Unless you have purchased a ‘Protected NCD’ add-on, you will likely lose some or all your No Claim Discount following a claim. If the third-party’s insurer admits to 100% of liability in writing, IronRock will not remove your No Claim Discount. However, note that establishing that one party is 100% at fault in an accident is often difficult, and therefore claims are often settled on a basis of contributory negligence – where each party is assigned a share of the fault for the accident, in which case you may lose some or all your No Claim Discount.

3.  If my windscreen or windows are broken can I make a claim without losing my No Claim Discount?

Yes. Windscreen and glass claims will not affect your No Claim Discount.

4.  How long do I have to report a claim?

Thirty (30) days from the date of the accident. Your claim may be denied if it has not been reported with full particulars of the accident on the prescribed Claim Form to IronRock, and within the thirty (30) day timeframe.

Managing Your Policy

1.  May I cancel my policy at any time?

Sure. Just advise us in writing or by email, stating the day on which you would like your policy to be cancelled – however note that policies may not be cancelled retroactively.

2.  What do I do if I have sold my vehicle?

You should advise your IronRock representative immediately, so that we may cancel your policy and provide any refund of premium due. Please be advised that your policy is not transferrable, and once the vehicle is sold your coverage will no longer apply.

3.  If I cancel my policy will I be entitled to a full refund of premium?

That depends. If a claim has occurred in the current policy period, and a payment has been made under your policy, or the claim is still open, unfortunately you are not entitled to a refund of premium. Otherwise you are entitled to a partial refund of premium, subject to a minimum refund.

4.  How does a Cover Note differ from a Certificate?

Although both serve as evidence of insurance, a Certificate is only issued after your full premium has been paid and will last for the entirety of your policy period. A Cover Note is temporary, usually valid for a month, and is issued upon receipt of a partial payment of premium.