The wife scraped a parked car a couple of weeks ago, she's a named driver on my policy. Very minor damage to both cars. Informed our insurer right away (online form), but when I got to speak to the guy he offered to get a quote and not bother going through insurance so I told him he can try.
Looked like a couple of hundred quid tops to me, but he's come back with £500.
I've never claimed on car insurance before (actually any insurance!). So couple of questions:
- If I tell him to go through insurance will it end up costing me more than £500 in increased premiums over the next 5 years (or however long you need to declare)?
- Presumably I'll have to inform the Lotus insurer too so that's going to go up as well?
Insurance Question
Re: Insurance Question
It is not a bog claim, it probably won't make a huge difference. Not sure about no claims as it is a named driver though. Is Alex(?) the insurance guy still on here?
Re: Insurance Question
I’ve never seen claims have a huge impact on the other half’s premiums. 3k and 1.7k.
Didn’t impact mine where she’s named too.
Didn’t impact mine where she’s named too.
Re: Insurance Question
No claims bonus will be impacted if it's not protected. If it's unprotected, you will lose some of those built up years. Been a while since I've done anything on the policy side of insurance. I think it used to knock you back to what would be the equivalent of 3 years NCB (well where I work at least).
Regardless of who was driving, the NCB is against the policy, not the driver, so you will likely see an increase, but how much..?
I think you would need to inform them as well, as you've made a claim against one of your policies.
When I had to make a claim on my policy (someone drove into my car and drove off whilst it was parked at work) my insurance doubled for the first year and went back down to roughly the same the following year. So it probably did cost me about £500 taking into account the excess and then increase in premium.
You have already told your insurer though, so it will probably be recorded even if you don't make a claim. It's a bit shit, but that's what it's therefore.
Regardless of who was driving, the NCB is against the policy, not the driver, so you will likely see an increase, but how much..?
I think you would need to inform them as well, as you've made a claim against one of your policies.
When I had to make a claim on my policy (someone drove into my car and drove off whilst it was parked at work) my insurance doubled for the first year and went back down to roughly the same the following year. So it probably did cost me about £500 taking into account the excess and then increase in premium.
You have already told your insurer though, so it will probably be recorded even if you don't make a claim. It's a bit shit, but that's what it's therefore.
Re: Insurance Question
@Alex88 is probably best placed to answer.
As I understand it, Insurance is a big pot of cash. They want more in than goes out of course.
As you’ve been contributing to the pot without taking anything out, you've been financing other people's claims for years. Now they will finance yours. If your claim was for £50k your insurance co would not seek to recover that in your personal premiums over the next couple of years - your risk profile increases so you will - in the immediate future - need to contribute more to the pot.
If you are going through your insurance, the other guy should do the same. Don't take a risk profile hit, get stung for NCB, and also pay for his out of your pocket. Your risk profile increase won't double if your insurance co ultimately has to pay for his repair also.
If your missus is a named driver on the Lotus, you need to declare that she has had an accident. If it is just you on the Lotus policy, then you haven't had any accidents in the last x years so don't need to mention it.
As I understand it, Insurance is a big pot of cash. They want more in than goes out of course.
As you’ve been contributing to the pot without taking anything out, you've been financing other people's claims for years. Now they will finance yours. If your claim was for £50k your insurance co would not seek to recover that in your personal premiums over the next couple of years - your risk profile increases so you will - in the immediate future - need to contribute more to the pot.
If you are going through your insurance, the other guy should do the same. Don't take a risk profile hit, get stung for NCB, and also pay for his out of your pocket. Your risk profile increase won't double if your insurance co ultimately has to pay for his repair also.
If your missus is a named driver on the Lotus, you need to declare that she has had an accident. If it is just you on the Lotus policy, then you haven't had any accidents in the last x years so don't need to mention it.
Re: Insurance Question
Also… the other party currently has a problem. His insurance co expect him to declare all incidents. If you give him cash and he declares “non incidents” next year then they will know he is lying… they share info and your claim exposes his incident.
Cynically-inclined people may suspect that they probably won’t challenge him at renewal time, they will take his premium and hold the info in order that they can reject his next actual claim for failing to declare something.
Cynically-inclined people may suspect that they probably won’t challenge him at renewal time, they will take his premium and hold the info in order that they can reject his next actual claim for failing to declare something.
Re: Insurance Question
Insurance companies would never behave like that Mik... surely not
Re: Insurance Question
As I suspected, seems like I just tell him to go through insurance. I think if it was £200 or something I might considered it, but I did wonder whether having declared it would be on my record anyway.
Wife is not on the Lotus, I just wondered if because it was a claim against my policy I would have to tell them.
Wife is not on the Lotus, I just wondered if because it was a claim against my policy I would have to tell them.