BEWARE Increased premium after NO FAULT accident

kingstreet

If the policy schedule says you must report any and all incidents, whether a claim was made or not, involving vehicles belonging to any and all drivers, you have to report them.

How insurers choose to treat them is their choice. In my experience, if you report a no fault incident to your insurer because someone hit your named driver's vehicle, there shouldn't be a corresponding increase in premium.

However, statistics appear to indicate if a vehicle is involved in one incident, it will be involved in another and the premium is increased accordingly.

Here's one insurer's instructions to policyholders;-

8. Your duty of disclosure
You must tell us immediately if any of the following happens:
• you change your car
• you make modifications or changes to your car which improves its value, performance, appearance or
attractiveness to thieves. This includes, but is not restricted to, changes to the engine, engine management
or exhaust system, changes to the wheels or suspension system, changes to the bodywork, such as spoilers
or body kits or changes to the windows, such as tinting
• you want to use your car for a purpose not included in your Schedule
• you become aware of any medical or physical condition of any driver covered by your policy which may affect
their ability to drive
• you or any other driver covered by your policy are convicted of a motoring offence other than
fixed-penalty parking offences
• you or any other driver covered by your policy is involved in an accident whilst driving another vehicle or suffers a loss, such as a theft, of any other vehicle or makes a claim on any other motor insurance policy
• you change the address at which you normally keep your car
• you or any other driver covered by your policy are convicted of any offence relating to fraud, arson or dishonesty
• you or any other driver covered by your policy change occupation
• you change your annual mileage.
• you or any other driver covered by your policy cease to be a permanent UK resident
We may then re-assess your cover and premium. If you do not tell us about any relevant changes, we may:
• reject or reduce your claim; or
• declare your policy null and void.

This insurer doesn't even qualify it with a "whether at fault or not."

moneybags1957

Back to my original point,Now according to insurance company statistics, because I've had one careless driver crash into my car, I am now more likely to be involved in another incident..................Total bull$hit if you ask me,so lets all hope nobody crashes into your stationary car as it will become cursed to be involved in other incidents, OR could it just be a feeble excuse to chisel more money out of policy holders?

hcb42

OP, was this a renewal premium that has leaped up?

Some premiums have leaped anyway, with no claims reported. Mine did for one. How do you know this is not the case?

I appreciate they might have said this on the phone, but i would be wanting a second opinion on that.

adamc260

kingstreet wrote: »

This insurer doesn't even qualify it with a "whether at fault or not."

They don't need to, it says this

you or any other driver covered by your policy is involved in an accident whilst driving another vehicle or suffers a loss, such as a theft, of any other vehicle or makes a claim on any other motor insurance policy

adamc260

moneybags1957 wrote: »

Back to my original point,Now according to insurance company statistics, because I've had one careless driver crash into my car, I am now more likely to be involved in another incident..................Total bull$hit if you ask me,so lets all hope nobody crashes into your stationary car as it will become cursed to be involved in other incidents, OR could it just be a feeble excuse to chisel more money out of policy holders?

I agree its daft but there are stats collected by insurers to suggest it will happen, I'm on your side though.

malc_b

But don't accidents always come in 3's? I'm pretty sure they do. I've checked the frog spawn and that confirms it. Clearly its your fault that you are in the wrong place at the wrong time. You're bound to make a habit of that.

Seriously I think that what this says is that your daughter is with the wrong insurance company. They are all pretty c***p to be sure but this one takes the biscuit. It's a bit like the question of it you have rolled 3 6's in a row what is the chance of rolling a 6. The answer is 6:1 dice have no memory. The chance of rolling 4 6s at the start is 1296:1 but the last 6 is just 6:1. People are very bad at judging risk and I don't think insurers are much better. Not if they think accidents come in 3s or some such. You could equally argue that if you haven't claimed for 20yrs you were overdue for an accident so you must be a higher risk (damn hope no insurer reads this, I've just given them an idea).

moneybags1957

Sorry there are statistics and damn lies,I feel this is a weasel insurance company ploy to get more money.
What next ,if you drive a green car with 13 in the number plate? how about I buy a new car which has not been hit by somebody else not paying attention would they drop the premium?
All you safe drivers out there just hope another idiot does not crash into you!

hcb42

But all the above is pure speculation....you could find 100 theories for premium rises in the average village pub.


Question prev asked: Has your daughter's premium gone up at renewal? from what ££ to what ££? Are you absolutely sure this is due to a loading for a NF accident? Premiums have gone up anyway. The phone staff do not always get it right, unfortunately, as it doesnt help but fuel the rumour mill.

ihateyes

hcb42 wrote: »

But all the above is pure speculation....you could find 100 theories for premium rises in the average village pub.


Question prev asked: Has your daughter's premium gone up at renewal? from what ££ to what ££? Are you absolutely sure this is due to a loading for a NF accident? Premiums have gone up anyway. The phone staff do not always get it right, unfortunately, as it doesnt help but fuel the rumour mill.

watch video and read report..... high claim/accidents in your area/non fault accidents WILL affect you premium

http://www.bbc.co.uk/blogs/watchdog/2010/11/car_premiums.html#more

raskazz

malc_b wrote: »

It's a bit like the question of it you have rolled 3 6's in a row what is the chance of rolling a 6. The answer is 6:1 dice have no memory. The chance of rolling 4 6s at the start is 1296:1 but the last 6 is just 6:1. People are very bad at judging risk and I don't think insurers are much better. Not if they think accidents come in 3s or some such. You could equally argue that if you haven't claimed for 20yrs you were overdue for an accident so you must be a higher risk (damn hope no insurer reads this, I've just given them an idea).

It's actually nothing at all like that question.

Fair dice have no memory hence the outcome of roll x is independent of the outcome of roll y.

However, the outcome of a policy year for risk A who has had a recent non-fault claim is materially more risky than the outcome of a policy year for risk B who is otherwise identical but has been involved in no fault claims whatsoever. The causation of this greater risk is a matter for debate but the insurer is, rightly, not concerned with what the particular causation may be, only that the correlation exists, thus a greater premium is charged for a greater risk. It's nothing do do with any assumption of "accidents coming in 3s" or any other such guff.

I wish people who know nothing about insurance would cease clogging the board up with supposition and ill-informed opinion. God knows why we haven't got a sticky for these topics that are repeated ad infinitum. Any moderators or board guides to shed any light on this?