Insurance query

imapoorstudent

At what point during a claim do you have to declare it as a claim? If that makes any sense...

Basically I went into a taxi and I was found liable. The claim is being dealt with, but in 6 weeks my renewal is due. When I renew I will have 4 years NCD and the possibility of securing my NCD...

So what would happen if I hear nothing back from the claim before I renew? If I renew and opt to pay to protect my NCD and then the insurance company come back and ask for my excess etc., do they backdate the claim?

I am hoping if they delay it long enough I will be able to say I have 4 years NCD and NCD protection... Is this viable?

Cheers.

mikey72

Usually about an hour after you hit the taxi.
Unless you're two hours from home. Or three.

forgotmyname

NO. They will ask if you have had any accidents which you will have to answer yes, Then the bells might start ringing
if you say you have 4 years no claims when you clearly have not.

They could increase your premium or just cancel your policy. Whether you paid in full or not.

raskazz

No, you cannot play the system like that. If the claim was reported after renewal the insurer would backdate the reduction of your NCD to the renewal date, remove any protection that was added and charge you the relevant additional premium.

Hammyman

BTW, technically you should be declaring the claim now. And as the other parties insurer will be claiming anyway, just quite how you think you can hide this is beyond me.

rev_henry

Yes, I'm afraid as there's another party involved the new insurance company will find out anyway as there's a database of such things.

Evilm

declare it as an unsettled claim. This may mean your insurance quotes have to be referred to the underwriters due to the open claim and you may get a provisional quote that will be reassessed when the claim is finally closed.

mikey72

Evilm wrote: »

declare it as an unsettled claim. This may mean your insurance quotes have to be referred to the underwriters due to the open claim and you may get a provisional quote that will be reassessed when the claim is finally closed.

imapoorstudent wrote: »

At what point during a claim do you have to declare it as a claim? If that makes any sense...

Basically I went into a taxi and I was found liable.

It's not unsettled.

Evilm

mikey72 wrote: »

It's not unsettled.

oops!

sorry OP, I think you will lose your no claims on this one and won't be able to use it on the next years policy.

KillerWatt

Evilm wrote: »

oops!

sorry OP, I think you will lose your no claims on this one and won't be able to use it on the next years policy.

Unless the OP is in a position (normally earned by age to be financially viable) to have protected no claims bonus.

imapoorstudent wrote: »

I am hoping if they delay it long enough I will be able to say I have 4 years NCD and NCD protection... Is this viable?

No.

As soon as your insurance company receive the claim form, that counts as a claim (whether it's settled or not).
Don't try to "blag" it, it will only end in tears.

forgotmyname

You dont tell them & get a nice low quote pay up or pay a deposit, They find out & cancel the policy.

You are now uninsured, When you try and get another policy you will then need to declare you have had a policy
revoked or cancelled which will not go down well either.