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insurance companies and penalty points

  • 19-02-2009 12:30pm
    #1
    johnjoesim
    Registered Users, Registered Users 2 Posts: 47 ✭


    Hi all,
    Not sure if this is the right place to be posting this but here goes, just wanted to know if you get penalty points does your insurance company know about it?or would you be able to keep it on the quiet? It's a difference of €130 if they don't know about it next time I renew my policy.


Comments

  • #2
    Robbo
    Moderators, Social & Fun Moderators, Society & Culture Moderators Posts: 10,581 Mod ✭✭✭✭Robbo


    It's up to you to inform them. Insurance operates under the principal of "utmost good faith" so if there's anything material to the policy you keep from them, they may withdraw cover or not pay out on a claim.


  • #3
    grumpytrousers
    Registered Users, Registered Users 2 Posts: 1,884 ✭✭✭grumpytrousers


    What Robbo Said...

    I passed an exam on Insurance law knowing next to nothing apart from the following, non-legal maxim

    "insurance companies are c*nts"

    They will, if they can at all back out of having to cough up money. Keeping quiet about penalty points would be very foolish...


  • #4
    Victor
    Registered Users, Registered Users 2 Posts: 78,577 ✭✭✭✭Victor


    I asked this of a guy in the IIF. If its 2 points, they weren't overly worried, but if it was 6-8 points and you hadn't declared them, the insurance company would start to become less willing to cover everything.

    The insurers are obliged to cover third parties, however, you might find them not covering your injuries or damage / loss of your vehicle.


  • #5
    McCrack
    Registered Users, Registered Users 2 Posts: 2,991 ✭✭✭McCrack


    "The insurers are obliged to cover third parties, however, you might find them not covering your injuries or damage / loss of your vehicle."

    Insurance companies are not obliged to indemnify 3rd parties if the policy relied upon is voided, for instance the proposed insured lied on the proposal form.

    If this happens the Motor Insurers Bureau of Ireland (MIBI) steps in to indemnify any innocent 3rd parties.


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