Insurance - watch out!
Discussion
A friend of mine recently had his CD player stolen from the car. some damage, too.
Phoned up his insurance company and asked them what would happen to the premium if he made a claim. Told that it would rise by c£900 because he would lose his NCB. Since the cost was far less that that, he paid for the repairs himself.
Shortly afterwards, the renewal comes through at the higher amount. When queried, they told him that he had had an 'incident' (abeit not a claim) and so they had reassessed the risk!!
Beware of even speaking to your insurance company about a POSSIBLE claim.
Phoned up his insurance company and asked them what would happen to the premium if he made a claim. Told that it would rise by c£900 because he would lose his NCB. Since the cost was far less that that, he paid for the repairs himself.
Shortly afterwards, the renewal comes through at the higher amount. When queried, they told him that he had had an 'incident' (abeit not a claim) and so they had reassessed the risk!!
Beware of even speaking to your insurance company about a POSSIBLE claim.
Surely his best bet would be to change insurance company? He'll still have his no-claims-discount ('cos he didn't claim) and the new company will no nothing of the 'incident'.
Even if they're a little more expensive that his current insurer was (before their knowledge of the incident) - they won't be 900 pounds more expensive.
Even if they're a little more expensive that his current insurer was (before their knowledge of the incident) - they won't be 900 pounds more expensive.
quote:
Shortly afterwards, the renewal comes through at the higher amount. When queried, they told him that he had had an 'incident' (abeit not a claim) and so they had reassessed the risk!!
I would look into that further ie request and read the policy wording. The insurance company assess the risk at the time you take your policy out, they base their premium on many factors one of which being the risk that your car could be broken into or stolen. The fact that it was should not change that. The only othe rthing I can think of is that if you still live in the same area and there has been a spate of car related crime that the risk factor for that area could go up.
Paul
quote:
quote:
Shortly afterwards, the renewal comes through at the higher amount. When queried, they told him that he had had an 'incident' (abeit not a claim) and so they had reassessed the risk!!
I would look into that further ie request and read the policy wording. The insurance company assess the risk at the time you take your policy out, they base their premium on many factors one of which being the risk that your car could be broken into or stolen. The fact that it was should not change that. The only othe rthing I can think of is that if you still live in the same area and there has been a spate of car related crime that the risk factor for that area could go up.
Paul
The fact that it was broken into usually will be enough for them to put it up. Insurers always go off whats happened in the past to determine what might happen in future. If you have an accident, they'll put it up (even if no NCB left before the accident) - doesn't mean you're more likely to crash again (you'd probably be more careful) but thats just life.
It sounds sneaky though, wouldn't want that sort of insurer covering me - I'd go with the advice and change companies.
Know of a similar situation where friend had car broken into, phoned up insurance co. to ask effect on insurance and decide whether to claim.
didn't claim, but insurance co. logged as an incident and adjusted premium accordingly.
Moral of the story, ins. co's are thieving gits, don't tell them anything if your car gets done over. Always declare every single modification, else they'll never pay out.
didn't claim, but insurance co. logged as an incident and adjusted premium accordingly.
Moral of the story, ins. co's are thieving gits, don't tell them anything if your car gets done over. Always declare every single modification, else they'll never pay out.
quote:
I'm surprised nobody has asked how much and what car! For it to rise by £900 how much was he paying before?
Full NCD could easily be this much. I pay £400 with 65% NCD, which means the NCD is worth £743.
But try changing insurance cos: to the question: "Any claims in the last 5 years" the absolutely honest answer is 'no'.
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