Car insurance renewal dilemma

dmg10

I don't know if it's good or bad timing but my car insurance expires tomorrow night and this morning I renewed with a different company. Statement of no claims proof has gone in, premium paid etc.

However, this evening I was involved in an accident for which I am more than likely at fault, and there will more than likely be 3rd party claims as well as repairs to my own against my current insurance company. Nothing too serious thankfully though, minor damage.

Question is, where does this leave me with the new company considering all documentation was correct and in order at the time of taking out the policy? Do I need to notify them at this stage or leave it until renewal this time next year?

Usually I would know the answer to these things but am a little confused as to what I need to do to remain above board without walking myself into anything either.

Thanks...

billy few mates

Interesting one, it's unfortunate that your circumstances changed AFTER you did the deal with your new insurer but the facts that you gave them were correct at that moment in time so there can be no suspicion of dishonesty. If it were me I think I'd ring them up and tell them what's happened in the interim just to let them know you want to keep everything open and above board in case of problems when you next come to renew. As it stands your recent accident shouldn't affect them directly as it's between you and your current insurer, but that's just my opinion.

mitosis

OP, when does the new policy start? You still need to make disclosure before it is active, is my understanding.

coylemj

mitosis wrote: »

OP, when does the new policy start? You still need to make disclosure before it is active, is my understanding.

+1 I believe that is correct and based on a similar situation on an earlier thread, the new insurance company would be within their rights to (and probably will) decline your business.

dmg10

Thanks all. Decided upfront and honest was the way to go. There were a few tense sweat inducing hours with my back almost in a corner as when I looked into seeing would I be better off staying with my past insurer (dealing with the claim) they loaded my renewal premium so much it was unaffordable, and I was afraid the new insurer might decline my business with only hours left to my expiry leaving me with no option, but they haven't and will still work out ok, a bit of an increase but more manageable. Hopefully it's my run of bad luck over.... After over 13years of driving I was almost faced with the prospect of being back where I started back then in terms of cost! phew, crisis averted I hope as long as there are no surprises now that I'm committed to the new insurer.

amen

However, this evening I was involved in an accident for which I am more than likely at fault,

how are they charging for a claim that has not yet been settled or fault determined?

dmg10

The whole think stinks tbh, won't go into how the conversation went but I'm considering looking into how I make a complaint against the insurance company. Just waiting on their letter of the quote breakdown. I'm not convinced about their justification of an €800 hike given I've retained my no claims discount.

coylemj

dmg10 wrote: »

The whole think stinks tbh, won't go into how the conversation went but I'm considering looking into how I make a complaint against the insurance company. Just waiting on their letter of the quote breakdown. I'm not convinced about their justification of an €800 hike given I've retained my no claims discount.

How did things change since your earlier post at 3 p.m. today where you said that you were staying with the new crowd?

dmg10

coylemj wrote: »

How did things change since your earlier post at 3 p.m. today where you said that you were staying with the new crowd?

It hasn't changed, the conversation with the old company was yesterday when I still had the option of renewing with the old insurance company and cancel the new policy with the new company, or just stick with the new company. I had to make the decision by close of business yesterday. But the old company were making all kinds of excuses (wrong imo and according to their policy document) to justify the hike that eventually I went 'enough, don't have the energy to fight them on it, will stick with the new lot'. A bit of a complicated decision alright to be measured up and finalised in the few hours I had to decide but just have to stay with the decision made now and hope for the best. Thanks all for the input. Complicated decisions like this are no fun when you rely on a car so much...