Insurance Query

[survivalist]

Been reading on other threads about the need to inform your insurance company of all accidents/incidents even if 100% fault free and claimed from the 3rd party/3rd party insurer. It seems the commonly held belief is that your insurer will use the incident to increase your future premiums. I have a couple of questions:

Is this really the case?

If so, is it just an excuse used by the call centre staff to justify a higher renewal premium (i.e. just blame any details that have changed)?

If this is the reason for any increase (assuming you get this in writing from said insurer), can you peruse the 3rd party responsible for the accident (or their insurance company) for the loss?

Thanks in advance

S

[cmackay81]

no one actually does, or no one does that I know.

I'm sure there will be some PH members who will say you need to and should, however how would they find out?

[survivalist]

In my case I am making a claim against the 3rd party's insurance company, so I imagine they will make a record of it. My understanding is that it can then be shared with other insurance companies?

[ThatPhilBrettGuy]

survivalist said:

Been reading on other threads about the need to inform your insurance company of all accidents/incidents even if 100% fault free and claimed from the 3rd party/3rd party insurer. It seems the commonly held belief is that your insurer will use the incident to increase your future premiums. I have a couple of questions:

Is this really the case?

Yes.

survivalist said:

If so, is it just an excuse used by the call centre staff to justify a higher renewal premium (i.e. just blame any details that have changed)?

No. Look at it this way. Statistically if you're involved in a string of no fault crashes either A) you're very unlucky or B) putting your self at risk.

Either way you're involved in the accident in some way and may be causing the crashes. As lots of claims go 50/50 under the covers between the companies they'd rather not insure you....

[Matt UK]

If you don't declare, you are making their job very easy if ever you need to claim...

[bazking69]

cmackay81 said:

no one actually does, or no one does that I know

Oh yes they do. Common practice sadly. Paramount to legal robbery if you ask me.

[survivalist]

To put this into perspective, it's not a 50/50 and not a "string" of no fault claims. An object fell off the roof of another car (several cars in front of me) and hit mine, aside from not sharing the roads with idiots not much I could do.

If I get stung for a premium increase, what are the chances of claiming this back from the idiotic 3rd party?

[cmackay81]

bazking69 said:

cmackay81 said:

no one actually does, or no one does that I know

Oh yes they do. Common practice sadly. Paramount to legal robbery if you ask me.

I was meaning no one actually tells the insurance company rather than the insurance company doesn't act on it.

the problem is knowing what the insurance company can and will find out about,whether or not the other party will mention it etc.

sometimes people will pay up without telling the insurance company, then the other person mentions it to their insurance company. in theory they may then get stung for the accident even after paying for the repairs themselves. so paying twice for it.