How does fixed penalty points affect insurance?

JF77

JonBoy_SCFC wrote: »

this is poor advice - most insurers increase premiums for 3 points

if 3 points didn't make a difference then why would it invalidate any claim?

hope this helps

Poor advice MY AR*E!!! I worked in the industry for years as an Insurance Broker and dealt with many insurers in my time and I am telling you that whilst there was a duty to disclose MOST would not levy a charge for only having 3 points. Are you calling me a liar?

JonBoy_SCFC

JF77 wrote: »

Poor advice MY AR*E!!! I worked in the industry for years as an Insurance Broker and dealt with many insurers in my time and I am telling you that whilst there was a duty to disclose MOST would not levy a charge for only having 3 points. Are you calling me a liar?

why is there a duty to disclose if they feel it doesn't affect the risk?

Don't know about broker business, but virtually all direct companies increase the price for 3 points - you can see this simply by doing a quote on MSM & Confused like i did.:money:

i'm amazed if broker companies don't think that 3 points is an indication of higher risk - sounds like unbelievably poor underwriting. maybe another reason why broker companies have poor results and are on the decline in private car insurance;)

peediedj

WIFES WITH TESCO,S INSURANCE AND she has 3 points it didnt increase either

JonBoy_SCFC

peediedj wrote: »

WIFES WITH TESCO,S INSURANCE AND she has 3 points it didnt increase either

just been on tesco website and price increased when i added a 3 point speeding to the details

i wonder if people are getting mixed up between whether it affects the price half way through an existing contract (which i realise it wouldn't)

JF77

JonBoy_SCFC wrote: »

why is there a duty to disclose if they feel it doesn't affect the risk?

Don't know about broker business, but virtually all direct companies increase the price for 3 points - you can see this simply by doing a quote on MSM & Confused like i did.:money:

i'm amazed if broker companies don't think that 3 points is an indication of higher risk - sounds like unbelievably poor underwriting. maybe another reason why broker companies have poor results and are on the decline in private car insurance;)

There is a duty to disclose any material fact regardless of the effect to the premium. We dealt with over 90 Insures and yes a small no of them would have charged for having just 3 points.

Brokers don't make the decision mate, they gather the information and pass it on to the insurance company who then underwrite and make a decision so get your facts right before you blame brokers. I took my role very seriously as do many other highly regarded brokers.

The OP asked for an opinion and based upon my experience I gave a reply.

Several months working in a call centre and a play around on Money Supermarket does not make you an underwritter.

By all means give your opinion based on your experience but, don't accuse me of lying about mine.

shirlgirl2004

I got 3 points and it increased my premium. I have full no claims and an otherwise perfect driving record. I'm in my 30's.

neilofnorton

"3 points" is confusing.

I understand insurance companies are more interested in the circumstances of the offence.
Failing to stop at a red light is considered more reckless than doing 35 mph in a 30mph zone.

Until they have all the facts normally they will not comment until the renewal is due.

It would appear because speed cameras are now a "cash cow" their attitude to minor speed offences are treated more leniently which is strange because if they all stayed on the bandwagon they could benefit from the "cash cow".

If you do make a claim they now want a copy of your driving licence or paper document if you have a card licence.

Insurance is voidable but not void unless written notice is served upon the insured. Once they are aware of a false declaration they must void the insurance but prior to the voidance you are covered. Every renewal points out your duty to advise them of any change in circumstances.

JonBoy_SCFC

JF77 wrote: »

There is a duty to disclose any material fact regardless of the effect to the premium. We dealt with over 90 Insures and yes a small no of them would have charged for having just 3 points.

Brokers don't make the decision mate, they gather the information and pass it on to the insurance company who then underwrite and make a decision so get your facts right before you blame brokers. I took my role very seriously as do many other highly regarded brokers.

The OP asked for an opinion and based upon my experience I gave a reply.

Several months working in a call centre and a play around on Money Supermarket does not make you an underwritter.

By all means give your opinion based on your experience but, don't accuse me of lying about mine.

how can something be material if it doesn't affect the premium? in what way is it material?

when i said broker companies, sorry i meant "insurance companies who operate via brokers in private car insurance" - they're on the decline and this example of poor underwriting might be partly to blame?

JF77

JonBoy_SCFC wrote: »

how can something be material if it doesn't affect the premium? in what way is it material?

when i said broker companies, sorry i meant "insurance companies who operate via brokers in private car insurance" - they're on the decline and this example of poor underwriting might be partly to blame?

I cant be bothered with this anymore! I thought I had explained myself and I am not prepared to keep repeating things.

Merry Crimbo I'm off for some festive cheer on another board!!!

ps2010

I just wanted to reply in support of what JF77 has said.
I have just been quoted the exact same insurance premium after getting a sp30 conviction on my licence. Ie I was doing over 30 in a 30 zone, and received 3 points and a £60 fine.
I know the premium hasn't changed because I received a renewal notice from my insurers prior to phoning them, saying that if I continued with them my new premium would be £xx.
On the phone they asked me if the points were a result of an accident (it wasn't), how much the fine was – and then quoted me the exact same figure as before they knew I had points.
So there we are, 3 points does not equal increase in premiums!
Reading between the lines, it can be assumed that if the points were a result of an accident, or the speeding fine was more than £60, then you would get a premium increase.