Penalty points and informing insurance?

jimmyrustle

Just wondering:

a- having acquired 3 penalty points, will my insurance likely be going up? Some stuff I read indicated a mere 3 points is usually waived.

b- a mate of mine dinged a parked car that had been obstructively, and deliberately, parked. Insurance settled without his consent, his next insurance quote essentially charged him enough to cover the settlement made, so he paid them off a grand to maintain his no claims discount (a win win for the insurer, no money lost and he is now tied to them for 5 years as his NCD won't apply with other firms)

Thing is, theoretically some fraudster jams on the brakes, we collide, they sue for 40k of whiplash, and win. The insurance pays out. Does the insurance try and pass this on to you regardless like they do with small settlements?

With that in mind, is there any point informing them?

biko

Having less than 4 penalty points usually doesn’t affect your premium with most insurance companies in Ireland. But if you have more, you might find it more expensive to get insurance cover. Some insurance companies may even refuse to quote you.

https://www.kennco.ie/car-insurance-penalty-points/

PCeeeee

Having 3 points certainly affected my premium.

wonski

biko wrote: »

https://www.kennco.ie/car-insurance-penalty-points/

Out of 3 insurance policies I had recently 2 required to notify points on renewal and 1 did increase the excess.

So the cover remained in place

Edit : not sure why the need for ninja edit biko?

You don't need to notify your insurer unless it is required by the insurer

Eggs For Dinner

Love the part where your mate hit a parked vehicle and he thinks he's entitled to give his insurers consent to settle the claim

jimmyrustle

Eggs For Dinner wrote: »

Love the part where your mate hit a parked vehicle and he thinks he's entitled to give his insurers consent to settle the claim

The claimant was a nuisance claimant who had the same "accidents" involving her and her daughter with other people in the locality. And also tried claiming for damage that couldn't have been caused by this collission.

The insurance company couldn't care less about any of this, unless in the unlikely event my mate decided to cease driving for the next 5 years they knew they would get every cent of it back. It's nothing short of a protection racket.

Atlantic Dawn

In my 3 most recent policies they all say that I must as a condition of cover inform them as the earliest possible time if I get penalty points, not informing them could cause problems.

Zatoichi

You have to inform them. They most likely have access to the database anyway. Liberty charged me €200 for 3 points.

Del2005

wonski wrote: »

Out of 3 insurance policies I had recently 2 required to notify points on renewal and 1 did increase the excess.

So the cover remained in place

Edit : not sure why the need for ninja edit biko?

You don't need to notify your insurer unless it is required by the insurer

All policies require you to tell them if any material facts have changed since you took out the policy. Getting penalty points is a material change so you need to inform them when you get the letter from the RSA saying you have penalty points

jimmyrustle wrote: »

The claimant was a nuisance claimant who had the same "accidents" involving her and her daughter with other people in the locality. And also tried claiming for damage that couldn't have been caused by this collission.

The insurance company couldn't care less about any of this, unless in the unlikely event my mate decided to cease driving for the next 5 years they knew they would get every cent of it back. It's nothing short of a protection racket.

How can they make a nuisance claim when your friend hit a stationary object? Their parking could be inconsiderate or dangerous but that doesn't allow someone to hit a parked vehicle.

With insurance you usually get a discount for no penalty points, you lose the discount for and get loaded for >3.

wonski

Del2005 wrote: »

All policies require you to tell them if any material facts have changed since you took out the policy. Getting penalty points is a material change so you need to inform them when you get the letter from the RSA saying you have penalty points




How can they make a nuisance claim when your friend hit a stationary object? Their parking could be inconsiderate or dangerous but that doesn't allow someone to hit a parked vehicle.

With insurance you usually get a discount for no penalty points, you lose the discount for and get loaded for >3.

Like I said 2 out of 3 need to notify at renewal so not as material fact as some would think.

Obviously check your insurer terms, but most don't care until renewal.

Providing it's just 3, not 12.

Getting caught speeding is not as material as some think.

Eggs For Dinner

jimmyrustle wrote: »

The claimant was a nuisance claimant who had the same "accidents" involving her and her daughter with other people in the locality..

So you're suggesting that this family deliberately park their cars in places where others will hit them, so they can claim to get them fixed?

Interesting hobby to have I suppose

jimmyrustle

Eggs For Dinner wrote: »

So you're suggesting that this family deliberately park their cars in places where others will hit them, so they can claim to get them fixed?

Interesting hobby to have I suppose

Yes. But without fixing them, or getting the highest quote possible for the fix and pocketing the difference. You are under no obligation to use your payout to actually fix your damages, or spend it in the garage you got a quote from (i.e. the most expensive)

My mate's insurer was informed of this, but couldn't care less. Not only would they lose no money, they now have a customer tied to them for the next 5 years because the NCD he essentially bought off them doesn't wash with other insurers.

A legalised no risk protection racket, basically.

Eggs For Dinner

Total nonsense

El Gato De Negocios

jimmyrustle wrote: »

Yes. But without fixing them, or getting the highest quote possible for the fix and pocketing the difference. You are under no obligation to use your payout to actually fix your damages, or spend it in the garage you got a quote from (i.e. the most expensive)

My mate's insurer was informed of this, but couldn't care less. Not only would they lose no money, they now have a customer tied to them for the next 5 years because the NCD he essentially bought off them doesn't wash with other insurers.

A legalised no risk protection racket, basically.

If your mate reimbursed his insurer for their outlay his claim is stricken from the record and he has no obligation to disclose this to any prospective insurers. Its the same as if he paid it out of his own pocket and didnt involve insurers at all. He is not tied to his current insurer.

Eggs For Dinner

Statutory Ape wrote: »

If your mate reimbursed his insurer for their outlay his claim is stricken from the record and he has no obligation to disclose this to any prospective insurers. Its the same as if he paid it out of his own pocket and didnt involve insurers at all. He is not tied to his current insurer.

You must declare the accident if specifically asked, but not the claim