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Penelty points and insurance

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  • 03-05-2011 1:16pm
    #1
    Predator_
    Closed Accounts Posts: 578 ✭✭✭


    I just get a letter in the post saying I got 2 penelty points for speeding. How much will this effect my insurance quote next year? Does 2 make much of a difference? I was thinking of getting an Integra Tyre R
    Right kick in the balls


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    #2
    Atomic Pineapple
    Registered Users Posts: 18,272 ✭✭✭✭Atomic Pineapple


    Ring your insurance company and ask them, easiest, fastest and only way to know exactly how 2 penalty points will affect your policy.


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    #3
    seamus
    Registered Users Posts: 68,317 ✭✭✭✭seamus


    For most people 2 penalty points doesn't affect the premium, though some insurers give a bonus for having zero.

    A few insurers (maybe all of them now) add clauses to the policy which increase your excess to 2,000 or 3,000 if you have penalty points that you haven't told them about.

    Edit: Quick quote on the Aviva website shows that you get a 20% discount for no points, 10% discount for less than 3 and no discount for having less than 5. They won't actually quote if you have more than 4 points (although maybe the full quote works).


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    #4
    polyfusion
    Closed Accounts Posts: 679 ✭✭✭polyfusion


    Predator_ wrote: »
    I just get a letter in the post saying I got 2 penelty points for speeding. How much will this effect my insurance quote next year? Does 2 make much of a difference? I was thinking of getting an Integra Tyre R
    Right kick in the balls

    As a matter of interest OP, how long after the offense did you get the letter?

    What the others say is the norm, I know with my own insurance I get 17% off for no points, 10% off for 2 points, and no % off for 4 or more. Probably increase the premium after 4 points.


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    #5
    NewApproach
    Registered Users Posts: 2,185 ✭✭✭NewApproach


    If it's your first 2 points then it shouldn't make a difference, but you should still notify your insurance company.

    If however these are just two extra, for example if this pushes you up to 12 points, then it will make a big difference. Still notify your insurance company though.


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    #6
    Predator_
    Closed Accounts Posts: 578 ✭✭✭Predator_


    polyfusion wrote: »
    As a matter of interest OP, how long after the offense did you get the letter?

    What the others say is the norm, I know with my own insurance I get 17% off for no points, 10% off for 2 points, and no % off for 4 or more. Probably increase the premium after 4 points.

    About 3 weeks ago, going 114 in a 100


    btw do I have to inform my insurance company? Could they charge for getting them?


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    #7
    tmcw
    Closed Accounts Posts: 396 ✭✭tmcw


    You'd want to check your insurance conditions, you may have signed something to the effect that you would inform them if you got any points.

    I know when I got my points, once I received notification that the points had been applied, I then informed the insurance company that I had them.

    I think there was another form I signed a few years back, in effect, allowing them access to my points record. I know (at the time at least), they wouldn't give the full penalty points discounts if you didn't allow them access.


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    #8
    CoDy1
    Registered Users Posts: 1,637 ✭✭✭CoDy1


    Predator_ wrote: »


    btw do I have to inform my insurance company? Could they charge for getting them?

    Your duty of disclosure period arises at renewal regarding Penalty Points. So it won't make a difference telling them now. And even when you inform them at renewal it will more than likely make no difference to your renewal premium.


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    #9
    Reloc8
    Closed Accounts Posts: 2,857 ✭✭✭Reloc8


    NewApproach wrote: »
    If it's your first 2 points then it shouldn't make a difference, but you should still notify your insurance company.

    If however these are just two extra, for example if this pushes you up to 12 points, then it will make a big difference. Still notify your insurance company though.

    Ya !

    A hooooog difference.

    You'd be disqualified from driving :eek:


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    #10
    NewApproach
    Registered Users Posts: 2,185 ✭✭✭NewApproach


    Reloc8 wrote: »
    Ya !

    A hooooog difference.

    You'd be disqualified from driving :eek:

    Exactly. Which is why one should notify their insurance company if such an event occurs.


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    #11
    Chipboard
    Closed Accounts Posts: 428 ✭✭Chipboard


    NewApproach wrote: »
    Exactly. Which is why one should notify their insurance company if such an event occurs.

    I think you should find out the implications of this action before you take it.

    I got 2 points for speeding on two occasions a few years ago and therefore had four points on my licence for a period. When renewing the deal was that there was no requirement to notify the insurance company if you had two points. If you had four points it was optional. More than four was compulsory. I received a 10% discount on my premium and if I elected to supply them with my driver licence number (and therefore access to my points record) I got a further 10% discount (if I had less than four points). As I had four points it didn't make sense to give them my driver licence number but of course there was a downside to this and it was that there was then an excess of €2,500 on my policy.

    As I was driving a 5 year old car and I decided that if I was in an accident I was happy enough to pay the first €2.5k myself, I didn't submit my driver licence number. This is like self insuring and basically depends on your attitude to risk. Its a perfectly legitimate route to take.

    It would seem that the insurance companies didn't have the right to access your points record years ago and may have been trying to incentivise people to supply their details - things may have changed since then. If the terms of your policy state that you have to divulge any points you definitely should. Its doubtul if they will load you for 2 points unless you are a young driver. You could always ring up and make a general query without stating your policy number.


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