Insurance and penalty points.

plastic-man

So, I had two points and was honest about them at the start of a new policy with a different company.

Only few weeks into policy and received two more. It probably depends on the insurance company, but what's the period in which you must inform them? Can they increase my premium for this policy I.e increase the monthly payments? Or can it only affect my next policy?

TestTransmission

plastic-man wrote: »

So, I had two points and was honest about them at the start of a new policy with a different company.

Only few weeks into policy and received two more. It probably depends on the insurance company, but what's the period in which you must inform them? Can they increase my premium for this policy I.e increase the monthly payments? Or can it only affect my next policy?

Ring them and find out.Probably won't make any difference

Del2005

plastic-man wrote: »

So, I had two points and was honest about them at the start of a new policy with a different company.

Only few weeks into policy and received two more. It probably depends on the insurance company, but what's the period in which you must inform them?

You must inform then when you have them. This isn't when you're stopped, you'll get a letter informing you that you have points at xxxxx date. You have to call them on or before the date, as you need to inform them of any material changes and having points is a major event.

Points are valid for 3 years from the date of issue not when you're caught so no point in adding extra time to them by informing your insurance company too early.

plastic-man wrote: »

Can they increase my premium for this policy I.e increase the monthly payments? Or can it only affect my next policy?

It all depends on your driving record and how many points you have. For you with 2, becoming 4, it shouldn't affect your premium. AFAIK they only become an issue after you get 6 and you've already lost your zero points discount.

plastic-man

It's a tricky situation. Does every firm have a strict policy on this. If so can I call up without disclosing name or policy details and query this?

They'd possibly just say it completely depends on the situation. But surely as a "potential customer" with 2 pts, it's not out of the blue to want to know this!?

I want to tell them I do, for peace of mind. But id like to have an idea of how much this peace of mind would cost and if it's worth it, taking the potential risk of no-payout in the event of an accident into account.

plastic-man

*Bump

plastic-man

Bump#2

TestTransmission

plastic-man wrote: »

*Bump

plastic-man wrote: »

Bump#2

You got your answer