Effect of a claim on your premium

RedXIV

Hi guys,

hoping for some general advice here.

I've been insured for nearly 2 years now, insurance will be up in a few months but this year I had a claim, totaled my car, my fault, will put my hand up there. But I'm wondering what kind of effect this will have on my premium when I go to review? Obviously the no claims bonus is gone, but since I turned the magic 25 after my last renewal, I'm in a cheaper age bracket.

For example, I put my details in my current broker's site, current age, no "no claims" bonus with a full licence, and got a quote €100 cheaper than what it cost me last year with a year of no claims. So what I'm wondering is how much the claim will go against me? will I still be able to shop around or will I be untouchable?

Cheers for the advice!

Red

listermint

RedXIV wrote: »

Hi guys,

hoping for some general advice here.

I've been insured for nearly 2 years now, insurance will be up in a few months but this year I had a claim, totaled my car, my fault, will put my hand up there. But I'm wondering what kind of effect this will have on my premium when I go to review? Obviously the no claims bonus is gone, but since I turned the magic 25 after my last renewal, I'm in a cheaper age bracket.

For example, I put my details in my current broker's site, current age, no "no claims" bonus with a full licence, and got a quote €100 cheaper than what it cost me last year with a year of no claims. So what I'm wondering is how much the claim will go against me? will I still be able to shop around or will I be untouchable?

Cheers for the advice!

Red

Depends if the claim has been settled. (third party involvement / injuries etc) this can go on for years (8 years in some cases)

Also depends on size of payout.

What i can honestly say is yes it will definitely effect your upcoming renewal. You can pretty much forget about the 100 Euro cheaper because that is not happening. I would gather that you may be hit with a sizeable increase. If the claim is settled i would just try to jump ship and move to a new insurer. Because they will bleed you dry.

Vicxas

Most insurance companies will not quote you if you've had a crash in the last 3 years so beware of that.

And 25 doesnt really make a difference anymore, well to me it didnt

RedXIV

listermint wrote: »

Depends if the claim has been settled. (third party involvement / injuries etc) this can go on for years (8 years in some cases)

Also depends on size of payout.

What i can honestly say is yes it will definitely effect your upcoming renewal. You can pretty much forget about the 100 Euro cheaper because that is not happening. I would gather that you may be hit with a sizeable increase. If the claim is settled i would just try to jump ship and move to a new insurer. Because they will bleed you dry.

Cheers for that, how do I know if the claim is settled? I got the money for my car alright, no problems there but I did do some damage to a van as well and I've no idea if thats been settled?

Henry Ford III

You really need to enquire from your insurer.

listermint

RedXIV wrote: »

Cheers for that, how do I know if the claim is settled? I got the money for my car alright, no problems there but I did do some damage to a van as well and I've no idea if thats been settled?

as above, you need to make enquiries on this. Its very important should you need to move insurer. Very important.

Marcusm

W/o the car with 2 years driving and damage to third party. I assume the base premium would increase dramatically. When you did the online quote, did it not ask if you had any accidents/claims in the past X years, ie a different question from how much NCB you have.

RedXIV

Marcusm wrote: »

W/o the car with 2 years driving and damage to third party. I assume the base premium would increase dramatically. When you did the online quote, did it not ask if you had any accidents/claims in the past X years, ie a different question from how much NCB you have.

Oh there was parts where it asked about claims but every one of them ends with "we couldn't process your quote please contact us at X"

I knew it would affect it, but I'm just wondering is it going to double or what? I had a quote for 935 last year, but 2K the year before and just wondering is it going back to that?

RedXIV

listermint wrote: »

as above, you need to make enquiries on this. Its very important should you need to move insurer. Very important.

Just had it confirmed that the claim was settled and closed since November. didn't realise how much they paid the other guy though, considering he was able to drive away happy enough.

Vicxas

Did they tell you how much it would increase?

RedXIV

No, not yet.

Think its safe to assume that this one will be a big one though

Jimmy Bottlehead

RedXIV wrote: »

Just had it confirmed that the claim was settled and closed since November. didn't realise how much they paid the other guy though, considering he was able to drive away happy enough.

Did he get hit from behind? And how much did he get?

RedXIV

Jimmy Bottlehead wrote: »

Did he get hit from behind? And how much did he get?

yeah he did, not saying I wasn't in the wrong, but I didn't think the dent I caused in the back of his van would get him over 7K.

On the same token, i know sweet FA about cars so that could be normal

Jimmy Bottlehead

RedXIV wrote: »

Jimmy Bottlehead wrote: »

Did he get hit from behind? And how much did he get?

yeah he did, not saying I wasn't in the wrong, but I didn't think the dent I caused in the back of his van would get him over 7K.

On the same token, i know sweet FA about cars so that could be normal

Unless his van got pretty ****ed then I'd imagine at least some of that is for a sore neck.