Insurance Company Limbo

brian.bkenny

So earlier this year I've been that guy that ends up in the end of another car due to them jamming on the breaks. Yes, I should never have been that close.

I also ended up being the guy who got the claimee that has the worlds slowest solicitor and/or continuous pain and it's been dragging on for close to 8/9 months now.

The insurance company I'm with have always assured me they are trying their best to get it settled asap and in the quickest manor.

Here's the stickler, my renewal is only 2 months away. They cannot give me a renewal quote yet due to "insurance premiums changing all the time". I don't believe I can change companies until this is settled.

What happens if I get stuck with an insurance premium of 5,000EUR for example !?

In the words of Pooh, "Oh bother". Has anyone got advice on this ?

matt70iu

Hi Brian

You are entitled to shop around for another quote from different insurers despite the open claim on your policy. You just have to tell your perspective insurer that the claim is not settled.

I would expect that your renewal with your current insurer will be cheaper than quotes obtained else where, as typically they put the value of the claim in as about 10,000 in the the case of an unsettled claim, therefore making your quote much higher than if the claim was settled for less.

See what you get quoted for your renewal and then get a few quotes but I reckon chances are you'll be better off premium wise sticking with your current insurer.

Hope this helps

Matt

kaiser sauze

...and when it is settled, you can move insurers in the middle of the year's timespan if you can get a better premium elsewhere.

brian.bkenny

Matt - Thanks a million for you reply. I completely get what you mean. Hopefully it will all work out for the best in the end.

ravima

all that should happen is that you lose your NCB