BEWARE Increased premium after NO FAULT accident

lisyloo

Out of interest when you did your claim, did you claim back 1 year, 3 years or 5?
My question revolves around the fact that you can only speculate on future premium increases and also circumstances.
For example I don't know how many motoring policies I will have in future (I currently share a car with my OH as we work in the same town, but that could easily change within 5 years).

vaio

My claim was about 10 years go, from DL for premium hikes from Elephant, think it was two years (maybe three) and then I moved to a company that didn't load for non faults. Sum involved was £100 (ish) per year

I just kept the letters confirming the loading and sent them in as, like you I, can't see how you could quantify it in advance.

scheming_gypsy

starrystarry wrote: »

I had a non-fault accident earlier this year so I was dreading getting my renewal quote. With prices rising so much over the last year anyway I was expecting a hefty increase but I was pleasantly surprised when my renewal arrived yesterday. £8.88 increase on the annual premium

it could have been a hefty increase, I'm guessing your £8.88 was on top of last years premium? this years before the accident increase cold have been £100 lower than last years.

starrystarry

scheming_gypsy wrote: »

it could have been a hefty increase, I'm guessing your £8.88 was on top of last years premium? this years before the accident increase cold have been £100 lower than last years.

True, but I think it's unlikely my premium would have dropped significantly given all the anecdotal info available on this forum. Nothing has changed (same car, same address etc), already on max NCB. Yes, the £8.88 was on top of last years premium.

lisyloo

I just kept the letters confirming the loading and sent them in as, like you I, can't see how you could quantify it in advance.

Ah I see, you claimed it in arrears. That makes sense.
I was thinking the other side would not accept a future theorectical loss, but claiming it in arrears with proof makes sense.

I'm on 3 motoring policies, so trying to estimate that for potentially 5 years is 15 potential premium increases.

malc_b

I like the suggestion of claiming it as consequential loss. Excellent.

I do see your point here but all of insurance pricing is based on correlations, what you seem to be suggesting is that correlations should be ignored unless a sociological reason for it can be linked to it.

Yes and no. I'm saying that if you do not understand the reason for a correlation then you cannot be sure it is real or fair. My suggestion is that the no-fault correlation is based on a small number of frauds distorting the figures. If that is the real reason then the frauds should be weeded out as far as possible and the remaining fraud cost spread over all customers. Clearly this is what some insurers do.

I'd agree that statistic sometimes show surprising results. I've noted that where you park is counter-intuitive. Premium is most parked over night in garage, least on the road way. I presume that is because of accidents in car reversing out of a drive or misjudging with width of the typical tiny garage. But in this there is a reason. There is no reason why someone hit by another car will be hit again.

If we switch to life insurance then you would increase the premium in leukaemia hot spots even though these are apparently an effect we see in random data, we naturally see patterns. That would be misreading the statistics which I suggest is what some insurers are doing.

But, we'll have to agree to differ I think. As customer I have to have insurance. I'm now warned that some insurers will increase my premium for a no-fault claim. I'll therefore make sure that in that case I either switch insurers or claim back the extra premium as a consequential loss.

lisyloo

Premium is most parked over night in garage, least on the road way. I presume that is because of accidents in car reversing out of a drive or misjudging with width of the typical tiny garage. But in this there is a reason.

No. Due to increasing car security, a lot of car thefts occur where the keys are taken from the house. If it's in a garage they have a very good idea of which house to get the keys from.
If it's parked on the street they don't know which house will have the car keys.
Quite logical and I have no doubt that this is backed up by stats.

There is no reason why someone hit by another car will be hit again.

Yes there is.
I have SEEN claims happen to careless people with my own eyes.
I am in no way suggesting that every individual that has a non-fault claim is careless, merely that there is a link between behaviour/habits and claims.

People that live on dead ends with little passing traffic are less likely to get hit than those that live on busy streets with loads of passing traffic.
Those that park at quiet empty private office facilities are less likely to get hit than those that park in busy city center car parks.
Those that walk to the supermarket and leave the car on the drive are less likely to be hit than those that want to park right next to the supermarket entrance where it's really busy.

I'll therefore make sure that in that case I either switch insurers

I like your pragmatic approach however it's not that easy to switch insurers mid-year without losing NCB.
Even if you had full no claims and didn't mind missing the months you'd buult up, you will still have to pay a cancellation fee.
Also I have a feeling that you may find that the quotes that are cheapest are not necessarily the same as the ones that don't load you for a non-fault claim. Companies that don't load you might be uncompetitive. But we can agree you'd want the best quote at the time for your new circumstances, you just might have to wait until renewal.

starrystarry

lisyloo wrote: »

No. Due to increasing car security, a lot of car thefts occur where the keys are taken from the house. If it's in a garage they have a very good idea of which house to get the keys from.
If it's parked on the street they don't know which house will have the car keys.
Quite logical and I have no doubt that this is backed up by stats.

Surely if it's in a garage nobody's going to see it and therefore nobody will want to break into the house to get the keys. Your point would make sense if you were talking about cars parked on driveways, but not in garages surely?

mikey72

lisyloo wrote: »

no. Due to increasing car security, a lot of car thefts occur where the keys are taken from the house. If it's in a garage they have a very good idea of which house to get the keys from.
If it's parked on the street they don't know which house will have the car keys.
Quite logical and i have no doubt that this is backed up by stats.


by far the easiest way though is to press the remote and see which car lights up, it doesn't matter where you park then.

yes there is.
I have seen claims happen to careless people with my own eyes.
I am in no way suggesting that every individual that has a non-fault claim is careless, merely that there is a link between behaviour/habits and claims.

People that live on dead ends with little passing traffic are less likely to get hit than those that live on busy streets with loads of passing traffic.
Those that park at quiet empty private office facilities are less likely to get hit than those that park in busy city center car parks.
Those that walk to the supermarket and leave the car on the drive are less likely to be hit than those that want to park right next to the supermarket entrance where it's really busy.

in which case anyone that parks near someone that has an accident should be loaded, as the risk will always be there, it won't increase or deacrease if you've been hit already. As to parking on the road being a greater risk, it can't be, as we've already said that's cheaper than parking on the drive.

i like your pragmatic approach however it's not that easy to switch insurers mid-year without losing ncb.
Even if you had full no claims and didn't mind missing the months you'd buult up, you will still have to pay a cancellation fee.
Also i have a feeling that you may find that the quotes that are cheapest are not necessarily the same as the ones that don't load you for a non-fault claim. Companies that don't load you might be uncompetitive. But we can agree you'd want the best quote at the time for your new circumstances, you just might have to wait until renewal.

you only get loaded at renewal, the insurer doesn't increase you premium mid term for a non fault claim. (yet)

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lisyloo

Surely if it's in a garage nobody's going to see it and therefore nobody will want to break into the house to get the keys.

Why don't you try a search on this forum as there are people who've posted on here that it's actually happened to.
Whether the thieves broke in with the intention of stealing the car in the first place or just came across the keys opprtunistically I don't know, but it definitely does happen and has been becoming increasingly common.
Some keys are even placed within reach of a letterbox.