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Insurance- car theft & Direct debit

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  • 30-10-2014 4:50pm
    #1
    Pierced Off
    Registered Users Posts: 329 ✭✭


    Ok, a long title I know. I've a bit of a strange one here. Scratched the head a few times and then a light came on "Boards" someone there will know the answer so here goes.
    My son bought his first car, 98 Nissan Micra in August €2000= change to insure it. He's working so paying it on the drip. Last Monday night, some little scroates decided to nick it, off the driveway, while we were all in doors. He rang the insurance company who said "Wait 30 days and if it's not found we'll proceed with your claim". OK, so here's his question(s)
    Since he's paying by DD, will his Insurers take out this months premium?
    Since the car is worth about €750, is it worth proceeding with a claim anyway?
    Should he just cut his losses and cancel his insurance and put it down to (a very painful) experience?
    All answers gratefully received and many thanks in advance.
    (moderators, if I put this in the wrong place, feel free to move it) P.O.;)


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    #2
    AndyBoBandy
    Moderators, Social & Fun Moderators Posts: 15,012 Mod ✭✭✭✭AndyBoBandy


    I would imagine the insurance company will still take the monthly DD as technically the car is still out there, and if say, found tomorrow, and your son drove it home from wherever it was found, he would still require the insurance to be in place.


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    #3
    slimjimmc
    Registered Users Posts: 7,787 ✭✭✭slimjimmc


    They will take next month's instalment because the policy is still in force until he or they terminate it.

    If he makes a claim while paying by instalments the insurer will most likely require him to pay the remaining balance and may deduct this from any pay out they give.
    This is AXA's policy:
    2 Paying by instalments
    If you are paying, or have agreed to pay, the premium for this policy by direct debit from a bank or building-society account, you must keep your payments up to date. If you do not, we will withdraw the option to pay by instalments or cancel the policy (or both). You must then return your certificate and disc to us.
    In the event of a claim in the current period of insurance, you must pay the full yearly premium. We have the right to deduct any premium owed to us from any claim we may pay.


    imo it's not worth claiming as he'll have to pay the full premium for the year anyway and he'll have a bad claims history which will likely increase next years premium.


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