Crahed my car. Claiming off insurance.

rekcaks

I had a car accident(single car). I hit a wall. Basically it's my own fault.

I'm currently filling in an Accident report form and one of the questions is "Whom do you consider to be at fault and why?"

Its my fault. Will this affect my claim?

Cee-Jay-Cee

No it wont effect your claim but you do realise you will lose your no claims bonus (unless you have full bonus protection or step-back) so unless the damage is considerable, I'd be fixing it myself because you have to take into account the excess amount that you have to pay yourself...

lawred2

Cee-Jay-Cee wrote: »

No it wont effect your claim but you do realise you will lose your no claims bonus (unless you have full bonus protection or step-back) so unless the damage is considerable, I'd be fixing it myself because you have to take into account the excess amount that you have to pay yourself...

biggest con job ever

while the percentage discount might be protected - the base premium isn't! So watch that premium soar...

Alanstrainor

OP you need to price up the cost of repair, using your comprehensive policy to cover this might not be a good idea.

rekcaks

Both airbags deployed, wing , bonnet and bumper damaged. Also has suspension damage. It's totalled. I have it insured for €12k. Fixing it isn't really an option because of cost.

How much is my premium likely to rise? Currently it's €650.

punisher5112

I crashed years ago just didn't claim.

Totally up to you but you will be paying a fortune for insurance the next 5 years at least.

ayux4rj6zql2ph

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rekcaks

Omsp is €12450 at the minute. I would love to know an average of how much the premium rises after such a claim.

ayux4rj6zql2ph

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rekcaks

Prisoner 6753 wrote: »

Impossible to compare really, this guy's insurance, even though there was no other vehicle involved in your case, this guy here got a hefty shock last week.
https://www.independent.ie/business/driver-48-gobsmacked-and-devastated-at-19k-insurance-quote-36792208.html

I seen that last week. 2 pending personal claims against him and probably 2 claims for damaged cars. I'd be happy enough of it doubled in price for the next few years. Almost pointless having insurance in these situations 😥

ayux4rj6zql2ph

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Liam McPoyle

Despite what some may have you believe, your insurance premium may not be impacted negatively at all by the claim. It's not nearly as simple as saying "You had a claim so your price will spike"

If insurers nailed everyone that had a claim then there wouldn't have been the huge increases that were seen over the last few years. It also depends on how the insurer has performed overall with all claims vs premium income.

If you have full ncd protection cover on your policy then I'd be fairly confident you will not see your premium increase by anything near 100%.If you don't lose your bonus than an increase of more than 25% would surprise me tbh.

rekcaks

Business Cat wrote: »

Despite what some may have you believe, your insurance premium may not be impacted negatively at all by the claim. It's not nearly as simple as saying "You had a claim so your price will spike"

If insurers nailed everyone that had a claim then there wouldn't have been the huge increases that were seen over the last few years. It also depends on how the insurer has performed overall with all claims vs premium income.

If you have full ncd protection cover on your policy then I'd be fairly confident you will not see your premium increase by anything near 100%.If you don't lose your bonus than an increase of more than 25% would surprise me tbh.

Thank you! Very helpful.

jeepcj

rekcaks wrote: »

Both airbags deployed, wing , bonnet and bumper damaged. Also has suspension damage. It's totalled. I have it insured for €12k. Fixing it isn't really an option because of cost.

How much is my premium likely to rise? Currently it's €650.

I recently had a claim, payout was around 10000, have step back protection so went from 50% to 20%, policy went from 600 to 2300.

rekcaks

Just a follow up. My renewal came in at €1850. It was a €6000 claim.

Casati

rekcaks wrote: »

Just a follow up. My renewal came in at €1850. It was a €6000 claim.

So 1200 more? Basically by the time you’ve built up a full no claims bonus you’ll have paid close to the amount of the claim!

studdlymurphy

Insurance is basically a loan to psy for the damage as they will gdt it back off you in your increased premium plus interest. Make you sick.

lawred2

rekcaks wrote: »

Just a follow up. My renewal came in at €1850. It was a €6000 claim.

I wonder would you have been better served by a loan for the damages.

mgbgt1978

A lesson to all here.
For your your own financial sake DO NOT follow the advice of any of the self-appointed Insurance Spokespersons on Boards.
A couple of them even believe the BS they spout.



OP , sorry for your troubles, but you were warned. NCB protection is practically meaningless. It is just another method for Insurers to extract more money from the Consumer.

rekcaks

rekcaks wrote: »

Just a follow up. My renewal came in at €1850. It was a €6000 claim.

Another follow up while im online.....€1850 was the renewal quote from the company we were insured with at the time of the accident. I shopped around and ended up with a policy costing €1229.

Gooser14

rekcaks wrote:

Another follow up while im online.....€1850 was the renewal quote from the company we were insured with at the time of the accident. I shopped around and ended up with a policy costing €1229.

Did you have full NCB protection on your original policy?

jmreire

So MGBGT, genuinely interested, what would your advice to the OP be? Go through the insurance to see what the renewal figure would be? Based on that, if it will be excessive, drop the claim, trade in the crashed vehicle, and purchase a replacement vehicle?
I understand that the motor insurance is basically a cash cow for the companies here in Ireland, and each and every thing will be used to extract as much as possible , so for future reference,you would advise dropping the NC protection part of the policy?

mgbgt1978

The OP still hasn't told us if he had bonus protection.
Even with step-back protection he is probably still better off with his change of Insurer.
Personally, I would never pay for Full Bonus Protection unless the additional cost was very low (€30 or less).
It ties you to one particular Insurer for at least 5 years, and as they are the Company who paid out for your claim we both know they will want as much as possible of "their" money back. I'm sure there are a few in the Industry (supposedly) who will argue that after a claim the Base Premium would be the same regardless of full bonus protection or not. That's up to them, and unless they are a Verified Boards Rep for any particular Insurer their opinion holds as much weight as yours or mine.



The problem with going through your Insurer to see what the renewal will be is that they won't give you a renewal quote until 3 weeks prior to your renewal date.

jmreire

All sewn up... and backed by the Law. I remember a friend of mine one time, ran into some cattle on the road. Broad daylight, they had broken out of a field, and were running wild down the road towards my friend, and they met on a bend, no chance to avoid hitting one of them. Caused quite a bit of damage to his car, and the animal was badly injured too. Upshot was that after reporting it to his insurers, they upped his insurance straight away, saying that his circumstances had changed, and the original quote was based on a different set of circumstances and no longer valid, so effectively, he was being issued a new insurance policy reflecting the change in circumstances, ie; Possibility of an insurance payout to the owner of the cattle. He had to take the owner to court and get a judgement against him before his original policy was eventually restored. Now quite a few years have elapsed since this happened, and I wondered if it happened today, would the same scenario apply?

rekcaks

We didnt have NCB protection! So overall we were reasonably happy with the €1229 quote.

Gooser14

So if you had full NCB protection the cost of the insurance on renewal with the original company would likely have been Eur 925 (1850 less 50% NCB).

Or is that too simplistic a view?

DesperateDan

jmreire wrote: »

Upshot was that after reporting it to his insurers, they upped his insurance straight away, saying that his circumstances had changed, and the original quote was based on a different set of circumstances and no longer valid, so effectively, he was being issued a new insurance policy reflecting the change in circumstances

That doesn't sound how I thought a yearly insurance contract works - the friend had an existing policy and after they crashed the policy itself changed price?

Gooser14

DesperateDan wrote:

That doesn't sound how I thought a yearly insurance contract works - the friend had an existing policy and after they crashed the policy itself changed price?

Rekcaks policy price also changed following his crash claim. But if he had NCB protection then the new policy price would have been discounted by the % of NCB he had built up.

Ultimate Seduction

jmreire wrote: »

All sewn up... and backed by the Law. I remember a friend of mine one time, ran into some cattle on the road. Broad daylight, they had broken out of a field, and were running wild down the road towards my friend, and they met on a bend, no chance to avoid hitting one of them. Caused quite a bit of damage to his car, and the animal was badly injured too. Upshot was that after reporting it to his insurers, they upped his insurance straight away, saying that his circumstances had changed, and the original quote was based on a different set of circumstances and no longer valid, so effectively, he was being issued a new insurance policy reflecting the change in circumstances, ie; Possibility of an insurance payout to the owner of the cattle. He had to take the owner to court and get a judgement against him before his original policy was eventually restored. Now quite a few years have elapsed since this happened, and I wondered if it happened today, would the same scenario apply?

Should he not have claimed off the owner of the cattle? Can't see how the farmer got a payout when it was his incompetence that leaded to cattle being unattended on a bendy road?

DesperateDan

Gooser14 wrote: »

Rekcaks policy price also changed following his crash claim. But if he had NCB protection then the new policy price would have been discounted by the % of NCB he had built up.

The renewal went up, jmreire is saying the existing policy premium went up straight away no? Right now I am half way through my policy and pay €85 a month, are we saying if I have an accident tomorrow, that next month I will be paying them more than €85?

Gooser14

DesperateDan wrote:

The renewal went up, jmreire is saying the existing policy premium went up straight away no? Right now I am half way through my policy and pay €85 a month, are we saying if I have an accident tomorrow, that next month I will be paying them more than €85?

I have never heard of a premium being increased on reporting of an accident. My daughter had a claim against her policy & it didn't increase until its renewal date.

Eggs For Dinner

A premium cannot increase mid-term because of a claim

wonski

I think some insurers will deduct outstanding balance from the payout so your policy is fully paid till the end of the term.

That on top of apllicable excess.

Eggs For Dinner

wonski wrote: »

I think some insurers will deduct outstanding balance from the payout so your policy is fully paid till the end of the term.

That on top of apllicable excess.

They cannot do that

wonski

Eggs For Dinner wrote: »

They cannot do that

They can and do:

In the event of a claim in the current period
of insurance, the full annual premium
becomes due. We reserve the right to
deduct any outstanding premium from
any claim payment we may make to You.

This is from Allianz.

The premium, however, does not increase until renewal.

mgbgt1978

Gooser14 wrote: »

So if you had full NCB protection the cost of the insurance on renewal with the original company would likely have been Eur 925 (1850 less 50% NCB).

Or is that too simplistic a view?

Who can say for sure that the Base Premium would be the same if the OP had full Bonus Protection

DesperateDan

wonski wrote: »

The premium, however, does not increase until renewal.

Ah this makes sense, pretty interesting did not know that. Does seem like they shouldn't be a allowed to do that :pac:

jmreire

Bear in mind that in the case I am speaking about, it happened a very long time ago....25 years ( possibly even a bit more ) and I just wondered if the same thing applied still? But it definitely happened, I know the guy who was involved in the accident.