How much does insurance increase after claim
Discussion
I tapped my neighbors car the other day. She got a quote and it's £500 as creased the panel. I said I'd pay for it outright. My excess is £300. There is a very small mark on my bumper which I can touch up. Is there a golden rule of thumb to how much your insurance is likely to increase come renewal time. I have 18 years NCD. Not protected.
The excess is on only on your damage if you claim for it - they’ll pay your neighbours claim in full.
It used to be that you lost 2yrs NCB when you made a claim but it’s all over the place now and the reduction isn’t linear. With my LV renewal there was a chart of how much it goes down. As well as that, your base premium may or may not change.
It used to be that you lost 2yrs NCB when you made a claim but it’s all over the place now and the reduction isn’t linear. With my LV renewal there was a chart of how much it goes down. As well as that, your base premium may or may not change.
Not many insurers will recognise 18 years of NCB, most cap it a lot lower than that.
When I had a crash a few years back I lost 2 years of my NCB. If you're insurers only recognise up to 10 years NCB then you might find that next year you only have 8 years NCB. All depends on who you are with.
When I had a crash a few years back I lost 2 years of my NCB. If you're insurers only recognise up to 10 years NCB then you might find that next year you only have 8 years NCB. All depends on who you are with.
wjwren said:
I tapped my neighbors car the other day. She got a quote and it's £500 as creased the panel. I said I'd pay for it outright. My excess is £300. There is a very small mark on my bumper which I can touch up. Is there a golden rule of thumb to how much your insurance is likely to increase come renewal time. I have 18 years NCD. Not protected.
You won't pay your excess on third party damage. I had a motorbike stolen and my insurance went down. From about 210 a year to 180.
For 500 I'd let the insurance sort it and move on. Long term you will be better off I'd guess. Nothing to say the £500 bill won't get bigger and worst. If you have 18 years NCD then I'm sure this won't be a regular event. Much like myself - the claim I had was out of the ordinary.
TBH insurance prices vary so much, one company will charge less if you have a claim than another will claim free.
My wife had a claim on her first policy with no NCD wuth Aviva. On renewal they wanted £200 more than the previous year, but Direct Line wanted £100 less (£300 overall).
With no claim for 18 years , surely you have protected NCD, although close to the excess, it’s debatable whether you should put it through the insurance.
My wife had a claim on her first policy with no NCD wuth Aviva. On renewal they wanted £200 more than the previous year, but Direct Line wanted £100 less (£300 overall).
With no claim for 18 years , surely you have protected NCD, although close to the excess, it’s debatable whether you should put it through the insurance.
wjwren said:
Just to confirm the excess is on any claim made? Not just if I don't claim for my own car?
In 99% of cases the excess only applies to a claim you make for damage to your own car.A tiny number of insurers (XS Direct are the only one I'm aware of) do apply an excess to third party claims, but they are far outside the mainstream. If you are only claiming for the damage to your neighbour's car any normal household name insurer will cover the claim in full without applying any excess.
wjwren said:
Just to confirm the excess is on any claim made? Not just if I don't claim for my own car?
You have almost certainly got that wrong. Check again. Read your policy. A pound to a penny says the excess only applies to your own damage, not to third party claims made against you. As Aretnap says above. wjwren said:
I will call them but does that still apply if I call my insurance up and say I've hit this car etc or would he need to call his insurance up and report me? Or does it not matter.
Your insurance policy requires you to pay £300 towards damage on YOUR car. Your insurance company will pay ALL of his damage. That's it. If you don't use your insurance company, then obviously you have to pay all of his damage, because you aren't using your insurance company, so who else is going to pay? Also worth remembering that insurance companies don't just ask about claims, they want to know about ANY accidents. An accident will likely increase your risk regardless of if you claim.
I had an accident a couple of years back and hadn't protected my no claims. My insurance only went up about £100, but I was ridiculously cheap in the first place.
I had an accident a couple of years back and hadn't protected my no claims. My insurance only went up about £100, but I was ridiculously cheap in the first place.
Drawweight said:
Worst case scenario is the repair shop makes a mess of the repair and the neighbour isn’t happy. Who sorts it out and pays for the repair to the repair?
It could end up really messy.
Just go through your insurance.
What on earth has any of that got to do with the OP, the neighbour gets a quote, the OP agrees the price and gives neighbour payment, end of the OP's involvement. If the neighbour then chooses to spend it with a s**t repair shop, a good repair shop or indeed a years supply of Haribos, that is up to them, how is it anything to do with the OP?It could end up really messy.
Just go through your insurance.
wjwren said:
I tapped my neighbors car the other day. She got a quote and it's £500 as creased the panel. I said I'd pay for it outright. My excess is £300. There is a very small mark on my bumper which I can touch up. Is there a golden rule of thumb to how much your insurance is likely to increase come renewal time. I have 18 years NCD. Not protected.
No, although internet folklore will tell you otherwise...many people are of the belief that you will pay more in premiums at renewal time and so will advise of not making a claim... seems a bit silly to pay for a service and not use it when you need it... Others, like myself, will say that they've made a claim and not had an increase at renewal time, although, maybe without a claim, it may have been lower...
So to answer the question... there is no golden rule of thumb. (IMHO)
TwigtheWonderkid said:
wjwren said:
I will call them but does that still apply if I call my insurance up and say I've hit this car etc or would he need to call his insurance up and report me? Or does it not matter.
Your insurance policy requires you to pay £300 towards damage on YOUR car. Your insurance company will pay ALL of his damage. That's it. If you don't use your insurance company, then obviously you have to pay all of his damage, because you aren't using your insurance company, so who else is going to pay? Metal Guru said:
TwigtheWonderkid said:
wjwren said:
I will call them but does that still apply if I call my insurance up and say I've hit this car etc or would he need to call his insurance up and report me? Or does it not matter.
Your insurance policy requires you to pay £300 towards damage on YOUR car. Your insurance company will pay ALL of his damage. That's it. If you don't use your insurance company, then obviously you have to pay all of his damage, because you aren't using your insurance company, so who else is going to pay? 
I've now informed neighbour that il be going through insurance and they seem arsey and said 'oh you want to play it like that!' as others have said you pay for this service so may as well use it. Also I'd rather it be repaired officially than a brown bag of money and he then comes back next week moaning about a paint lacquer issue etc.
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