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Will my insurance premium rise if I claim?

  • 29-11-2008 8:30pm
    #1
    Lazare
    Registered Users, Registered Users 2 Posts: 4,448 ✭✭✭


    We recently had a bad leak from our ensuite shower which destroyed the ceiling below. I've gotten a professional quote and am about ready to contact the insurance company (AIB).
    My wife's heard stories from colleagues that in simillar situations their premiums (premia??) shot up the following year. Is there any truth to this? I thought home insurance was differrent to car insurance in that regard.
    I'm prepared to lose my no claims bonus, but I'd be hesitant to claim if I thought I'd just end up paying through the nose for it next year.
    If that was the case I think I'd just try do the work myself.

    Btw, the quote is for €2200.

    Any thoughts?


Comments

  • #2
    Jo King
    Banned (with Prison Access) Posts: 2,139 ✭✭✭Jo King


    It is an urban myth. There is some no claims discount applied in certain types of house insurance but i had a claim last year and it did not affect my premium.
    You should hire your own loss assessor at a fee of around 10% to process the claim for you.Again you will be told it is a waste of money, but that is not my experience.


  • #3
    dolanocp
    Closed Accounts Posts: 1 ✭dolanocp


    Yes and no to the premium going up. No, the premium on your policy won't "shoot up" just because you made a cliam, unlike car insurance, just because you made a claim on your home doesn't make you a bad home owner. You do have to maintain your property to a certain standard and this is expected by your insurance provider. Eg if you never treated or replaced the sofit and facet boards and water got into under the roof, well tough, that is maintainance issue. Yes, premiums can up and do, this is linked to indexes, interest rates, etc. For example, Quinn Insurance issued a letter stating that due to the large amount of flooding which occured in the summer of 2008 they were increasing premiums across the board.

    As far as getting an independant (make sure they are independant) loss assessor, that is generally a good idea as they will achieve a higher settlement than you may on your own.


  • #4
    3DataModem
    Registered Users, Registered Users 2 Posts: 4,077 ✭✭✭3DataModem


    Why bother doing that?

    I recently had something similar. I contacted insurer, and they contacted a building company to do the work.

    I have no idea how much it costs. All I know is that they returned by hall landing and stairs to perfection. Didn't have to haggle, didn't have to get quotes. Just had to be there when the builder & assessor arrived. They agree a price and get on with the job. No hassle.

    The only thing I had to claim directly was the cost of the emergency plumber that I had to get out (€200) to the house and give the receipt to the assessor. Cheque arrived in 2 weeks for that part, work was completed on the house in about 3 weeks.

    (PS I'm insured with BOI, and my premium did not go up).


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