Increased premiums (for a claim) how long for?

Wig

I just did an anonymous quote to see how much a claim would cost on renewal
I first did a full NCB / no recent claim quote for £200
I then did a 3 year NCB / 1 claim in 2011 quote for £333

Then I thought I had finished as I had found out a claim would cost me £140 ish in the 1st year and left the website, but now I wished I had tried the same for a claim in 2010, 2009, 2008, 2007, 2006, 2005,

To see what long term effect the claim would have.... does anyone know or have a guess? I'll have to do it again, I suppose.

P.S. you'd also lose your excess on the claim, so £250 excess the claim will cost you £400 in the first year

forgotmyname

try full NCB with 1 claim. Full could be anything from 3 to 9 years from quotes i have done.

Declare claims from 3 to 5 years for most insurers, Doesnt mean its cheaper though by going with a company that only
ask for 3 years history.

King_Nothing

I did one for my non-fault claim over 5 years, and it's going to cost me at least £1.5k over 5 years going on todays statistics and prices, £1.5k out of pocket for someone elses mistake, lol.

Quentin

King_Nothing wrote: »

I did one for my non-fault claim over 5 years, and it's going to cost me at least £1.5k over 5 years going on todays statistics and prices, £1.5k out of pocket for someone elses mistake, lol.

Doesn't seem right (Average increase of £300 a year??)

When you say it was a non fault claim, did your insurer have to pay anything? (If so, then it's a fault claim irrespective of whether or not you were blameless)

mikey72

Wig wrote: »

I just did an anonymous quote to see how much a claim would cost on renewal
I first did a full NCB / no recent claim quote for £200
I then did a 3 year NCB / 1 claim in 2011 quote for £333

Then I thought I had finished as I had found out a claim would cost me £140 ish in the 1st year and left the website, but now I wished I had tried the same for a claim in 2010, 2009, 2008, 2007, 2006, 2005,

To see what long term effect the claim would have.... does anyone know or have a guess? I'll have to do it again, I suppose.

P.S. you'd also lose your excess on the claim, so £250 excess the claim will cost you £400 in the first year

If you're really bored, try it with protected ncd, and without.
I can't remember the figures, but I think I had to have more than 2 claims every 5 years or so to make it worthwhile protecting the ncd.
Saying as I've never had one in over thirty years I've quids in.

King_Nothing

Quentin wrote: »

Doesn't seem right (Average increase of £300 a year??)

When you say it was a non fault claim, did your insurer have to pay anything? (If so, then it's a fault claim irrespective of whether or not you were blameless)

Just going on what figures the site produced when changing the relative facts over a 5 year period so it is liable to change over teh coming years, in real life, and I went to my insurance who passed me onto their claim management company as it wasn't my fault, so they recovered all costs from the other persons insurance and I never payed any excess.

Quentin

£300 does seem a lot.

Have you got any NCD? And have you increased it for each year? And tried a comparison site for multiple insurers?

Gavin83

I did the same thing on a comparison site (I think it was money supermarket) and my premium went up by about 60% if I entered a claim. Glad I'm currently claim free because it's extremely expensive. I've never seen an insurer ask if it was a fault or non fault claim either, both seem to go into the same category. I have seen some people on here say that a claim doesn't affect your premium though so I'd be curious as to which insurers they're using.

Wig

Gavin83 wrote: »

I did the same thing on a comparison site (I think it was money supermarket) and my premium went up by about 60% if I entered a claim. Glad I'm currently claim free because it's extremely expensive. I've never seen an insurer ask if it was a fault or non fault claim either, both seem to go into the same category. I have seen some people on here say that a claim doesn't affect your premium though so I'd be curious as to which insurers they're using.

Yes some don't ask if it's fault or non fault, but I seem to remember Tesco or Nationwide did offer the choice of fault or non fault.

forgotmyname

Just thought it affects you for 5 years, Most ask for 5 years history but does it go further than that?

You added to the statistics for your postcode, 1 extra accident may have pushed your postcode into a higher group.
So the affect could be very long lasting.

Wig

forgotmyname wrote: »

You added to the statistics for your postcode, 1 extra accident may have pushed your postcode into a higher group.
So the affect could be very long lasting.

Don't be silly. I imagine the way they collect data is actual paid out claims, either on their own books, or they all collectively report their paid out claims to a central database. It would not be done on quotations that would be a very silly way of doing risk assessment.

I wouldn't think they even care about the relationship between accident claims and postcodes, because there wouldn't be any meaningful relationship. Thefts and vandalism Vs postcode, I can understand.