Renewal issues if go uninsured for a month?

Frank101

I'm aware insurance prices are on the up, but I think my own situation might be that bit more bizarre. The whole thing seems a bit arbitrary anyway. My girlfriend who's younger than me, who's price has dropped to €380. Has a 27 year old driver with an immaculate record, my latest insurance quote (due Sept 5th) is now €1,125!

What might make my case different is that a year & a half ago, somebody drove into my car. When the insurance came up for renewal in (Sept last year), the other driver's insurance company (so I was told) had not yet accepted responsibility for the accident. Then as soon as I'd paid the renewal, a few days later they informed me that the other insurance company were accepting responsibility for the accident. Therefore the price dropped back down to €640 from €1,100ish.

It seemed as if they held off on giving the good news until I had renewed with them. This kept me from looking for quotes off other insurance companies. The important question though; is it that accident that they're still penalising me for? Is having a no claims bonus really the same thing as having never been in an accident? I've I'm getting quotes from other, and if I'm asked "have you ever been in an accident" can I say "no"?

As I don't really need a car at the moment, I'm considering going a few weeks without driving. Are there renewal complications to doing this? Because if there's not, then there's no rush in looking for another quote. The insurance company I'm with won't give me this option, as they'll just back date it to the renewal date. But it shouldn't effect any quote I get from other companies?

Year 14/15 - €450ish
Year 15/16 - €640 (would've been €1,100)
Year 16/17 - €1,125

Liam McPoyle

Frank101 wrote: »

I'm aware insurance prices are on the up, but I think my own situation might be that bit more bizarre. The whole thing seems a bit arbitrary anyway. My girlfriend who's younger than me, who's price has dropped to €380. Has a 27 year old driver with an immaculate record, my latest insurance quote (due Sept 5th) is now €1,125!

What might make my case different is that a year & a half ago, somebody drove into my car. When the insurance came up for renewal in (Sept last year), the other driver's insurance company (so I was told) had not yet accepted responsibility for the accident. Then as soon as I'd paid the renewal, a few days later they informed me that the other insurance company were accepting responsibility for the accident. Therefore the price dropped back down to €640 from €1,100ish.

It seemed as if they held off on giving the good news until I had renewed with them. This kept me from looking for quotes off other insurance companies. The important question though; is it that accident that they're still penalising me for? Is having a no claims bonus really the same thing as having never been in an accident? I've I'm getting quotes from other, and if I'm asked "have you ever been in an accident" can I say "no"?

As I don't really need a car at the moment, I'm considering going a few weeks without driving. Are there renewal complications to doing this? Because if there's not, then there's no rush in looking for another quote. The insurance company I'm with won't give me this option, as they'll just back date it to the renewal date. But it shouldn't effect any quote I get from other companies?

Year 14/15 - €450ish
Year 15/16 - €640 (would've been €1,100)
Year 16/17 - €1,125

Most companies will request a written declaration from you as to why you have been off the road for a month (if you decide to go down that route), its known as a gap in cover letter.

Acceptance criteria are tightening up though with many companies so something that is non standard ie not renewing a policy after being driving for a number of years, then deciding to go back on the road may raise alarm bells.

Best option is price around, see what kinds of prices the market are returning and decide then if you can do without the car in the short term.



**This is my opinion based on my experience just in case there are any ambiguities**

Frank101

Saul T Nutzz wrote: »

Most companies will request a written declaration from you as to why you have been off the road for a month (if you decide to go down that route), its known as a gap in cover letter.

Acceptance criteria are tightening up though with many companies so something that is non standard ie not renewing a policy after being driving for a number of years, then deciding to go back on the road may raise alarm bells.

Best option is price around, see what kinds of prices the market are returning and decide then if you can do without the car in the short term.



**This is my opinion based on my experience just in case there are any ambiguities**

And if I'm shopping around, what should I pretend that my current price is? or should I say at all? What if I said €700

Liam McPoyle

Frank101 wrote: »

And if I'm shopping around, what should I pretend that my current price is?

I wouldn't get into it at the beginning anyway.

Get a couple of quotes and see how they are looking first. If they are all coming in similarly priced then you will have a better idea of what your bargaining power is.



**This is my opinion based on my experience just in case there are any ambiguities**

cplwhisper

If you let the current renewal expire for example, the policy number will be closed this any discount for renewal will be lost.
An existing policy could have anything upto 18% built in to premium--

- set up new policy ( new policy number ) under same info weeks later then you leave the risk of only getting the 5% or 20 discount. Price staying with own conpany but pay-by-instalments thus affordable to keep rates and existing benefits of cover

Frank101

cplwhisper wrote: »

An existing policy could have anything upto 18% built in to premium--[quote/]in english please?

- set up new policy ( new policy number ) under same info weeks later then you leave the risk of only getting the 5% or 20% discount.[quote/]as opposed to what?

cplwhisper wrote: »

Price staying with own conpany but pay-by-instalments thus affordable to keep rates and existing benefits of cover

Defo won't go that route. It's guaranteed to cost more over all.

cplwhisper

Frank101 wrote: »

cplwhisper wrote: »

An existing policy could have anything upto 18% built in to premium--[quote/]in english please?

- set up new policy ( new policy number ) under same info weeks later then you leave the risk of only getting the 5% or 20% discount.[quote/]as opposed to what?

cplwhisper wrote: »

Price staying with own conpany but pay-by-instalments thus affordable to keep rates and existing benefits of cover

Defo won't go that route. It's guaranteed to cost more over all.

1. On your renewal notice received from your company , it may state a renewal or loyalty discount that brough the price down to the 1125 offer u say u got. (Example 1300 gross minus 175 loyalty rate = 1125

If New customer rate was 1300 then u'll get max 5% ( 65) off = 1235

Frank101

Saul T Nutzz wrote: »

Most companies will request a written declaration from you as to why you have been off the road for a month (if you decide to go down that route), its known as a gap in cover letter.

Acceptance criteria are tightening up though with many companies so something that is non standard ie not renewing a policy after being driving for a number of years, then deciding to go back on the road may raise alarm bells.

Best option is price around, see what kinds of prices the market are returning and decide then if you can do without the car in the short term.

Sean O'Rouke spoke to Paul Kavanagh about rising insurance costs on the radio this morning (29th). He said it's only risen 17% in the last 6 months. As you can see mine as clearly risen a lot more than 17%!

He also said there's now "manual risk intelligence" where any insurance company, once they've your license number, can gather information concerning you car tax, NCT and no claims bonus status.

I've a feeling that the accident I was involved in last year (which wasn't my fault) might be something to do with the price having risen so much. But I'm skeptical that all this information might now be available to other insurance companies now.

jimmycrackcorm

Saul T Nutzz wrote:

Most companies will request a written declaration from you as to why you have been off the road for a month (if you decide to go down that route), its known as a gap in cover letter.

Since when did this come in? For many years the standard was that a no claims bonus was valid for up to two years.

If you wanted to put your car on SORN for a few months and neither tax or insure it then it was no issue.

Liam McPoyle

jimmycrackcorm wrote: »

Since when did this come in? For many years the standard was that a no claims bonus was valid for up to two years.

If you wanted to put your car on SORN for a few months and neither tax or insure it then it was no issue.

Its nothing to do with your bonus.

You could get done for drink driving, be off the road for 18 months and your bonus is still live.

As I've said previously, when something is non standard when it comes to insurance then generally it will raise eyebrows and additional information will be sought.

While someone deciding to park their car up for a few months is perfectly acceptable and there is absolutely nothing wrong with it, a company has to ask the question as to why someone has been able to do without a car when they have had one for a number of years previously.


*this is my opinion based on my experience in case there are any ambiguities*