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Insurance

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  • 18-04-2018 1:34am
    #1
    Ryan davis
    Registered Users Posts: 12 ✭


    Hi just looking for some info please.
    About 5 years ago I was in an car accident, my fault but the claim against me has taken until now to be resolved with the insurance company and was settled for 90k plus legal costs.
    My first insurance renewal after the accident was €1,300 which was a 60% rise and 5 years has past but I'm wondering now that it's settled is it this year's renewal when I will be hit with an astronomical renewal that will probably force me off the road even though I been with a new insurance company since the accident , or was the 60% rise just after the accident my punishment. And if it's this year's insurance that will go through the roof has anyone any rough idea or heard of a similar circumstance as to how much it will go up by.


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    #2
    Liam McPoyle
    Closed Accounts Posts: 14,846 ✭✭✭✭Liam McPoyle


    If the accident was more than 5 years ago you do not have to declare it to prospective new insurers. It's the date of the incident rather than the settlement date that's asked.

    Presumably if you have been claims free for the following 5 years you will have at least 4 years ncd.

    Find out the exact date of the incident from the insurer and request a statement of ncd, you will know exactly where you are that then.


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    #3
    Ryan davis
    Registered Users Posts: 12 ✭Ryan davis


    Hi thanks for the reply
    Yes the accident was 2012 so I have ncd since then


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    #4
    Skatedude
    Registered Users Posts: 2,674 ✭✭✭Skatedude


    Business Cat wrote: »
    If the accident was more than 5 years ago you do not have to declare it to prospective new insurers. It's the date of the incident rather than the settlement date that's asked.

    Presumably if you have been claims free for the following 5 years you will have at least 4 years ncd.

    Find out the exact date of the incident from the insurer and request a statement of ncd, you will know exactly where you are that then.

    the accident was more than 5 years ago, but when was the claim actually settled? (90k payout often takes quite some time to be sorted and closed)


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    #5
    Ryan davis
    Registered Users Posts: 12 ✭Ryan davis


    Skatedude wrote: »
    the accident was more than 5 years ago, but when was the claim actually settled? (90k payout often takes quite some time to be sorted and closed)

    Only settled in court last week


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    #6
    Liam McPoyle
    Closed Accounts Posts: 14,846 ✭✭✭✭Liam McPoyle


    Skatedude wrote: »
    the accident was more than 5 years ago, but when was the claim actually settled? (90k payout often takes quite some time to be sorted and closed)

    Doesn't matter when it was settled once it occurred more than 5 years ago.


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    #7
    jake2219
    Registered Users Posts: 4 ✭jake2219


    Business Cat wrote: »
    Doesn't matter when it was settled once it occurred more than 5 years ago.

    Incorrect, it’s the question that’s asked on the proposal form that is deemed material to the risk.


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    #8
    Liam McPoyle
    Closed Accounts Posts: 14,846 ✭✭✭✭Liam McPoyle


    jake2219 wrote: »
    Incorrect, it’s the question that’s asked on the proposal form that is deemed material to the risk.

    The question is asked "have you had any accidents or incidents in the last 5 years" or a variation of that.

    The answer to the OP would be no.

    If they are asked have you ever had any accidents then they would need to disclose it.


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    #9
    jake2219
    Registered Users Posts: 4 ✭jake2219


    Business Cat wrote: »
    The question is asked "have you had any accidents or incidents in the last 5 years" or a variation of that.

    The answer to the OP would be no.

    If they are asked have you ever had any accidents then they would need to disclose it.

    Some insurers only ask 3 years, some ask 6. It’s not a standard question


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