car accident/insurance question

jmorrisey

Just seeking some advice,

I was in a car acciident back in 2006 where i was liable. I was told a few months later that the driver of the other vehicle was filing a claim but heard no more about it. My insurance premium went up considerably in 2007 and gradually worked its way down over the last few years. ...

Then i got a letter in the post today saying the claim from 2006 had just been settled for €50k and another €20k in legal fees.

What will happen with my premium from my next renewal at the start of 2012? Going to ring the broker but afraid to hear the answer!

Dear Mods, I posted this in the insurance/pensions section first so you may want to move this or the other one. Wasnt sure which was more appropriate. Sorry for the hassle

Anan1

You're nearly out of the woods - the accident was almost 5 years ago, and you've been earning NCB ever since. Ask your broker to be sure, but I wouldn't worry too much - the real hit was in year 1.

El Guapo!

I think Anan1 is right. They already loaded your insurance premium so you shouldn't see another increase.

Also if they do, just change your insurer. When you get a new policy they'll ask if you were involved in an accident in the last couple of years. You accident was 5 years ago so you wont have to reveal it to them.

jmorrisey

Thanks for the input guys.. gonna bite the bullet and ring the agent tomorrow and see what the exact story is. Thanks again

Otis Driftwood

Once the claim is settled then you will be fine (provided it will be over 5 years since the accident) come your next renewal.

There are also a few companies out there that only take claims in the last 3 years into account so I wouldnt worry at all.