Where do we stand..?

Debt_Free_Chick

My understanding is that "yes" you disclose this as a claim, but you need to know the loss - if any - that your insurers paid out. If all the loss was recovered from the farmer's insurance, then you have one claim with a value of "nil".

But I would have thought that this would have a negligible effect on your premium

Oscar_The_Grouch

Debt_Free_Chick wrote: »

But I would have thought that this would have a negligible effect on your premium

Unfortunately, some insurers will still take the claim into account.

JonBoy_SCFC

Oscar_The_Grouch wrote: »

2nd time in one night that I'm quoting you FS!! Last time I said thanks so I hope you don't mind that this time I am going to say that you are wrong.

The actual question at renewal time is "have you (or any one else insured on this policy) had any incidents, WHETHER INSURED OR NOT that could give rise to a claim?"

The whole point of this is that you could be insured third party only and reverse into your own garden wall; the claim goes against your home insurance, but that doesn't stop the fact that you had an incident that could have been worse - reversed out of your drive and knocked Granny and her 5 year old grandson over.

OP: you have to declare the accident on your insurance and will have to note it for the next 5 years. You can get your additional costs back, but this will take a bit of effort on your part. Here's what you do:

1. Go in to a price comparison site and put in all your details as if the accident had never occurred. Get the quotes then print a copy of the screen (Press Alt and PrtScrn at the same time, open "paint" and hit Ctrl V at the same time. Save the picture as "QuoteNoClaim" with the file type of Jpeg).

2. Go back in to the same site and get a quote with the same details, but with the actual accident date. Save the screen print as "QuoteWithClaim".

3. Go back again and put in the same details, but as if the accident had happened exactly 12 months earlier. Save the screen print as "QuoteWithClaim1YrAgo".

3. Keep doing the same thing until you get back to the same price as in "QuoteNoClaim".

The difference in premium until you get back to where you were is your "future loss" and should be recoverable.

i'd be very surprised if a someone compensated you the amounts based on a calculation like this. the method is ok for the difference in the current term, but lots of problems with doing this for other future years

For example, you might currently be driving a aston martin with premium £1000 and a claim aged 3 years old coukld be extra 15% = £150. but maybe in 3 years time you are driving a fiat with premium £200, so £150 compensation would be totally wrong. also things like age, driving experience will have changed