No fault insurance claim, effect on premiums, recoverable.
Discussion
I have a no fault claim on my insurance record this year. Man in van (his first day in the job, poor sod) reversed into the front of my car whilst i was sitting stationary in a traffic queue. £580 to sort. He admitted liability, his company have paid. Premiums across the board go up because of the notification. Has anyone ever recovered this 'hidden' cost of a no fault claim?
I don't think it'll happen. But I also think it is ridiculous that insurers load your premiums for non-fault accidents.
I understand that their stats might show if you are hit then you are slightly more likely to be involved in another incident, but in many cases the increases seem disproportionate to any risk and there doesn't seem to be any consistency. My dad's car was hit by another car, and his premiums went up by ~£100 which was a 50% increase. I pranged my own Merc E class and did £2700 of damage, and my policy renewal was £50 cheaper???
I understand that their stats might show if you are hit then you are slightly more likely to be involved in another incident, but in many cases the increases seem disproportionate to any risk and there doesn't seem to be any consistency. My dad's car was hit by another car, and his premiums went up by ~£100 which was a 50% increase. I pranged my own Merc E class and did £2700 of damage, and my policy renewal was £50 cheaper???
Insurance is up across the board for a lot of people at the moment, have you tried quotes with and without the claim through the comparison sites?
My experience has always been that some insurers load the premium and some don't, but if the ones that don't aren't competitive for your circumstances anyway then that doesn't help you.
I'm sure the increased premiums can't be recovered.
I'll be in the same boat myself at renewal time
My experience has always been that some insurers load the premium and some don't, but if the ones that don't aren't competitive for your circumstances anyway then that doesn't help you.
I'm sure the increased premiums can't be recovered.
I'll be in the same boat myself at renewal time
spookly said:
I don't think it'll happen. But I also think it is ridiculous that insurers load your premiums for non-fault accidents.
I understand that their stats might show if you are hit then you are slightly more likely to be involved in another incident, but in many cases the increases seem disproportionate to any risk and there doesn't seem to be any consistency. My dad's car was hit by another car, and his premiums went up by ~£100 which was a 50% increase. I pranged my own Merc E class and did £2700 of damage, and my policy renewal was £50 cheaper???
Non - fault accidents can sometimes be avoided.... It makes sense to me...I understand that their stats might show if you are hit then you are slightly more likely to be involved in another incident, but in many cases the increases seem disproportionate to any risk and there doesn't seem to be any consistency. My dad's car was hit by another car, and his premiums went up by ~£100 which was a 50% increase. I pranged my own Merc E class and did £2700 of damage, and my policy renewal was £50 cheaper???
spookly said:
I don't think it'll happen. But I also think it is ridiculous that insurers load your premiums for non-fault accidents.
I understand that their stats might show if you are hit then you are slightly more likely to be involved in another incident, but in many cases the increases seem disproportionate to any risk and there doesn't seem to be any consistency. My dad's car was hit by another car, and his premiums went up by ~£100 which was a 50% increase. I pranged my own Merc E class and did £2700 of damage, and my policy renewal was £50 cheaper???
Its just down to the companies statistics, which is why you see variances between companies. Insurance is just a numbers game.I understand that their stats might show if you are hit then you are slightly more likely to be involved in another incident, but in many cases the increases seem disproportionate to any risk and there doesn't seem to be any consistency. My dad's car was hit by another car, and his premiums went up by ~£100 which was a 50% increase. I pranged my own Merc E class and did £2700 of damage, and my policy renewal was £50 cheaper???
I can believe that being in an accident means you are more likely to have another accident (possibly your fault) however for a lot of people its just going to be bad luck on a particular day. That's what happens when you categorise into large groups.
Its the same thing with age groups, not much changes for you when you are one day older on your birthday, but it can dramatically effect your insurance.
98elise said:
spookly said:
I don't think it'll happen. But I also think it is ridiculous that insurers load your premiums for non-fault accidents.
I understand that their stats might show if you are hit then you are slightly more likely to be involved in another incident, but in many cases the increases seem disproportionate to any risk and there doesn't seem to be any consistency. My dad's car was hit by another car, and his premiums went up by ~£100 which was a 50% increase. I pranged my own Merc E class and did £2700 of damage, and my policy renewal was £50 cheaper???
Its just down to the companies statistics, which is why you see variances between companies. Insurance is just a numbers game.I understand that their stats might show if you are hit then you are slightly more likely to be involved in another incident, but in many cases the increases seem disproportionate to any risk and there doesn't seem to be any consistency. My dad's car was hit by another car, and his premiums went up by ~£100 which was a 50% increase. I pranged my own Merc E class and did £2700 of damage, and my policy renewal was £50 cheaper???
I can believe that being in an accident means you are more likely to have another accident (possibly your fault) however for a lot of people its just going to be bad luck on a particular day. That's what happens when you categorise into large groups.
Its the same thing with age groups, not much changes for you when you are one day older on your birthday, but it can dramatically effect your insurance.
Even though the 3rd party have admitted liability and paid out for my old van they can still change their mind on liability apparently!, once the claim is closed my NCB will be reinstated and the insurance premium will be adjusted (I will get money back they said), I have also informed the solicitors dealing with the accident I will be claiming the interest I am being charged to pay the premium over 10 months, so should be interesting come claim day!
catso said:
spookly said:
I understand that their stats might show if you are hit then you are slightly more likely to be involved in another incident
Which just goes to show you can make stats show whatever you like...There will always be some collisions that are unavoidable. There will be others that, while the driver is not at fault, he could have avoided by driving differently. Presumably the stats show something similar...
Saleen836 said:
My non fault accident is still open so my insurer for my new van have it listed as 'at fault' and taken 10 of my 12 years NCB off me, on my written off van I was paying under £200 a year and the renewal for my newer van is just under £1000! :O
Even though the 3rd party have admitted liability and paid out for my old van they can still change their mind on liability apparently!, once the claim is closed my NCB will be reinstated and the insurance premium will be adjusted (I will get money back they said), I have also informed the solicitors dealing with the accident I will be claiming the interest I am being charged to pay the premium over 10 months, so should be interesting come claim day!
That's what happened with one of my sons. His renewal was due a while after the accident & the premium rocketed. Once settled - there was no argument about the other party's liability - his NCB was reinstated & Bank of Dad got a refund.Even though the 3rd party have admitted liability and paid out for my old van they can still change their mind on liability apparently!, once the claim is closed my NCB will be reinstated and the insurance premium will be adjusted (I will get money back they said), I have also informed the solicitors dealing with the accident I will be claiming the interest I am being charged to pay the premium over 10 months, so should be interesting come claim day!
simonfrost said:
I have a no fault claim on my insurance record this year. Man in van (his first day in the job, poor sod) reversed into the front of my car whilst i was sitting stationary in a traffic queue.
How much gap had you left?simonfrost said:
Has anyone ever recovered this 'hidden' cost of a no fault claim?
There used to be some-one in the industry who was very active on here and he was always adamant that it couldn't be recovered. However I always felt he gave answers as the industry wanted them to be, rather then what was really true.I'm sure there have been occasional examples of people getting compensation for their increased premiums. I do remember one example where both parties were insured with the same company but I suppose that skews it a lot.
catso said:
spookly said:
I understand that their stats might show if you are hit then you are slightly more likely to be involved in another incident
Which just goes to show you can make stats show whatever you like...All you see is price, so how they have come to that price doesn't matter.
Sheepshanks said:
There used to be some-one in the industry who was very active on here and he was always adamant that it couldn't be recovered. However I always felt he gave answers as the industry wanted them to be, rather then what was really true.
I'm sure there have been occasional examples of people getting compensation for their increased premiums. I do remember one example where both parties were insured with the same company but I suppose that skews it a lot.
This article gives some insight into the recoverability of consequential losses. The article refers to diminution in value of the vehicle following an accident but the principle is the same. I'm sure there have been occasional examples of people getting compensation for their increased premiums. I do remember one example where both parties were insured with the same company but I suppose that skews it a lot.
http://www.33bedfordrow.co.uk/Legal-Articles/the-r...
At the time of settling the claim how could you quantify your loss?
Furthermore - how can you prove your insurance went up as a result of this claim?
Why should the TP be liable because you have other factors the resulted in this incident increasing your premium when the same incident wouldn't have affected others?
Sheepshanks said:
There used to be some-one in the industry who was very active on here and he was always adamant that it couldn't be recovered. However I always felt he gave answers as the industry wanted them to be, rather then what was really true.
I'm sure there have been occasional examples of people getting compensation for their increased premiums. I do remember one example where both parties were insured with the same company but I suppose that skews it a lot.
Well in this case it is true, they can't be recovered. There was someone who was adamant he'd got the extra premium refunded by when he posted the "evidence", they payment was in respect of something completely different. But even once this was pointed out, he still wouldn't have it!I'm sure there have been occasional examples of people getting compensation for their increased premiums. I do remember one example where both parties were insured with the same company but I suppose that skews it a lot.
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