Not declaring points gained during policy - am I screwed
Discussion
BJG1 said:
98elise said:
Even though his terms explicity say that he must tell them as soon as the curcumstances change?
Point of order - I think it says I should tell my broker, not the insurer.I'm not an insurance expert though hence questioning why that would be the case.
OP, in terms of underwriting and premiums, a claim is treated as 'fault' until the 3rd party pay out.
So if your solicitors manage to get the 3rd party from the May 2014 accident to cough up, you should try get a pro-rata refund for the increase in premium which (I imagine) you have been experiencing since then because of the unclosed claim.
I had this a few years ago when a LHD dutch car side swiped me. My car was written off and the 3rd party accepted liability, but it took about a year for the dutch insurance company to finally pay out, in the meantime my renewal came up and had increased. This increase was later refunded to me (or perhaps claimed off the 3rd party).
As for the points, it doesn't sound like they are out to catch you out. Probably just a matter of course that you need to send in your driving licence. If they question the points, the whole thing sounds so complicated written down that I doubt they'll be bothered to make sense of it when you talk them through it on the phone! You have a licence at the end of the day. And you weren't even the driver at the time anyway.
So if your solicitors manage to get the 3rd party from the May 2014 accident to cough up, you should try get a pro-rata refund for the increase in premium which (I imagine) you have been experiencing since then because of the unclosed claim.
I had this a few years ago when a LHD dutch car side swiped me. My car was written off and the 3rd party accepted liability, but it took about a year for the dutch insurance company to finally pay out, in the meantime my renewal came up and had increased. This increase was later refunded to me (or perhaps claimed off the 3rd party).
As for the points, it doesn't sound like they are out to catch you out. Probably just a matter of course that you need to send in your driving licence. If they question the points, the whole thing sounds so complicated written down that I doubt they'll be bothered to make sense of it when you talk them through it on the phone! You have a licence at the end of the day. And you weren't even the driver at the time anyway.
98elise said:
Either way TwigtheWonderkid was saying you were under no obligation to tell them because it was an annual contract. That sounds wrong to me as you agree to a set of terms and conditions in any contract. If those terms say you must inform them of any new points, then that's what you need to do.
I'm not an insurance expert though hence questioning why that would be the case.
Insurers can't just make up rules and regs as they go. They are bound by ABI rules on what they can and can't do. They have to operate within the rules and by a code of conduct. I'm not an insurance expert though hence questioning why that would be the case.
They cannot charge for mid term convictions. Not until the next renewal. That's it, end of story. You don't have to tell them. If they ask to be told, it's because they know many people forget at the next renewal so it is for your own protection to let them know as and when, so they can mark their records and apply the appropriate loading AT NEXT RENEWAL. Not before. If your conviction results in a ban, and someone else will become the main driver, then they can charge for that, if the new main driver is a higher risk than you were.
They can charge mid term for physical changes, like change of car, change of address, change of use or drivers.
This isn't an opinion. It's a fact.
TwigtheWonderkid said:
98elise said:
Either way TwigtheWonderkid was saying you were under no obligation to tell them because it was an annual contract. That sounds wrong to me as you agree to a set of terms and conditions in any contract. If those terms say you must inform them of any new points, then that's what you need to do.
I'm not an insurance expert though hence questioning why that would be the case.
Insurers can't just make up rules and regs as they go. They are bound by ABI rules on what they can and can't do. They have to operate within the rules and by a code of conduct. I'm not an insurance expert though hence questioning why that would be the case.
They cannot charge for mid term convictions. Not until the next renewal. That's it, end of story. You don't have to tell them. If they ask to be told, it's because they know many people forget at the next renewal so it is for your own protection to let them know as and when, so they can mark their records and apply the appropriate loading AT NEXT RENEWAL. Not before. If your conviction results in a ban, and someone else will become the main driver, then they can charge for that, if the new main driver is a higher risk than you were.
They can charge mid term for physical changes, like change of car, change of address, change of use or drivers.
This isn't an opinion. It's a fact.
TwigtheWonderkid said:
Insurers can't just make up rules and regs as they go. They are bound by ABI rules on what they can and can't do. They have to operate within the rules and by a code of conduct.
They cannot charge for mid term convictions. Not until the next renewal. That's it, end of story. You don't have to tell them. If they ask to be told, it's because they know many people forget at the next renewal so it is for your own protection to let them know as and when, so they can mark their records and apply the appropriate loading AT NEXT RENEWAL. Not before. If your conviction results in a ban, and someone else will become the main driver, then they can charge for that, if the new main driver is a higher risk than you were.
They can charge mid term for physical changes, like change of car, change of address, change of use or drivers.
This isn't an opinion. It's a fact.
+1 - that is how it has always worked.They cannot charge for mid term convictions. Not until the next renewal. That's it, end of story. You don't have to tell them. If they ask to be told, it's because they know many people forget at the next renewal so it is for your own protection to let them know as and when, so they can mark their records and apply the appropriate loading AT NEXT RENEWAL. Not before. If your conviction results in a ban, and someone else will become the main driver, then they can charge for that, if the new main driver is a higher risk than you were.
They can charge mid term for physical changes, like change of car, change of address, change of use or drivers.
This isn't an opinion. It's a fact.
Sadly I'm not convinced too many of the current workforce at brokers and insurers know this!
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