Informing insurance co of accident and claim on another policy

Ialwaysgetdone

If you have 2 cars and they are both insured by you but with different insurance companies and one has an accident while being driven by a named driver, no other vehicle involved but claim currently in progress, I presume (or I think I may have read somewhere) that you would need to inform your other insurer of your other car of that fact.

I have scoured the policy but it makes no mention of this so can anyone tell me when I should do this?

Should it be right away or once the claim has been settled or just at the next renewal?

Or not all? (pretty sure you do though)

Also, as it will affect my no claims on that policy, will it have any effect on my other policy with the other company in any way?

vaio

depends on what the policy says but at renewal is normal, it could well result in an increase in premium

Ialwaysgetdone

Well, I've found out that the answer is actually that you must inform them immediately or ASAP or it could invalidate all or part of your policy (so they say).

As to whether it affects your other policy in any way, yes it does, £23 extra had to be paid today and the premium at next renewal will be higher

vaio

Doesn’t sound right to me, particularly the increase in premium now. Can you post a link to the T&C?

Ialwaysgetdone

vaio wrote: »

Doesn’t sound right to me, particularly the increase in premium now. Can you post a link to the T&C?

I've no idea where the T&C's are but my wife phoned them up today to find out as she was worried about driving in the snow without knowing for sure, would be just her luck to have an accident and not be covered she reckoned. it's her insurance. Direct Line. The other policy for the other car that the claim is being made on is Mint motor insurance. She said they (direct line) said something about higher excess???

A new document is coming through the post, when it comes I will see what they have done. If I had been able to talk to them I would have quizzed them as to what exactly they were going to charge for. I wouldn't be able to do a woman's voice though, not even with tight pants

Ialwaysgetdone

All I can find online is the policy document which I have at home and couldn't see anything in that http://www.directline.com/motor/M6B_0410_web_pdf.pdf

She is saying that they said the £23 is the extra is for the length of time left on the current year, about 6 months. they said it will effect her no claims even though it was with a different company. that could be right because if you build up no claims with one company then switch to another company you still get the no claims bonus, so it will probably work the other way round too, lose your no claims and lose it with anyone. the £23 may be because the no claims will be lost as soon as you make a claim, even with another company, do you think?

smartsaver2011

I believe you will find that they class i as 'material fact'

If you read the material fact section it states if any changes or information changes from the original proposal form or statement of fact then you need to notify them, ie a an accident on another policy.

A good broker or insurer will advise you it will noted be for information only as it wasn't on that policy, however yes it may effect some insurers pricing at renewal. Sound unfair, well unfortunately it is how they work and if you dont disclose they will only find it on CUE (claims underwriting exchange database) a bit like a credit check system for accidents/claims.

Hope this helps

x

vaio

T&C here, http://www.directline.com/motor/M6B_0410_web_pdf.pdf

no requirement (that I can see) to notify them of anything that doesn't involve a claim on the DL policy.

I don't see how they can change your premium (or excess) half way through a policy

smartsaver2011

Agree you have to notify them but they should only charge an additional premium if the claim was undisclosed at inception ie when arranging and not mid-term. And secondly should really only see difference possibly at renewal

vaio

smartsaver2011 wrote: »

I believe you will find that they class i as 'material fact'

If you read the material fact section it states if any changes or information changes from the original proposal form or statement of fact then you need to notify them, ie a an accident on another policy......

I must have missed that, what page is it on?

smartsaver2011 wrote: »

....A good broker or insurer will advise you it will noted be for information only as it wasn't on that policy, however yes it may effect some insurers pricing at renewal. Sound unfair, well unfortunately it is how they work and if you dont disclose they will only find it on CUE (claims underwriting exchange database) a bit like a credit check system for accidents/claims......

Are you saying they can up the premium and excess half way through policy?

vaio

smartsaver2011 wrote: »

Agree you have to notify them but they should only charge an additional premium if the claim was undisclosed at inception ie when arranging and not mid-term. And secondly should really only see difference possibly at renewal

Notify them now? or at renewal?