Can claim about £100 for water damage - worth it?

bitsandpieces

My property has been damaged by a leak - my contents insurance company are being good about paying out, but it looks like I might only get around £100 after the £150 excess is paid. I'm aware I'll lose my no claims bonus and may face slightly higher premiums elsewhere if I claim - so is it still worth claiming my 100 quid?

Thanks

_Andy_

Depends on your existing premium but personally I wouldn't bother

bitsandpieces

Thanks - would have to check existing premium, but a bit over £100/year iirc (though that includes extras like good bike cover).

The bother I hope is mostly gone through - have held on phone lines etc. while I found out how much they'd pay. So more a question of whether claiming would be likely to benefit me...

*Scarlett

As you have already informed the insurer about the incident it will be registered as a loss against the policy even if you do not proceed with the claim. This may affect your no claims discount next year as insurers generally ask about "claims, accidents, losses"

Do a couple of dummy quotes including the claim type and amount to see how it will affect your premium. Also quote with 0 years no claims (as this may be how future insurers would view the incident).

You would be able to see the possible difference in price for proceeding with the claim or not, and also the premium if the no claims discount was removed.

One claim of £250 may not be as bad as you would think - providing you don't have other recent claims (3 - 5 years).

Bear in mind that you will have to declare this to future insurers for the next 3 - 5 years.

jonesMUFCforever

I agree with Scarlett - it is too late for it not to be recorded as a claim.
If this is your only claim in say last 5 years it should not make much of a difference when you shop around at renewal time - you do shop around every year don't you?