Insurance renewal whilst still got an unresolved claim.

Arfa__

Back in April some numskull took me out whilst I was on my motorbike: Swapped lanes from standstill to get closer to red light ahead, didn't look/indicator, I clipped him and dropped bike. Wasn't filtering, lane to myself, very low speed as I was about to pull up at red light too. no damage to other party, but £1600 to my bike (lot of cosmetic damage to fairing, luggage etc). I have TPTF policy.

Anyway, the claim is still on going, other party has been contesting it, my insurers convinced other party 100% liable, going to court, legal case has been served, waiting to see if they actually respond and indeed want to fight it.

However, my renewal is due up next week. So I've got a lovely increase in premium. Any tips, advice in this situation? Anything I can do to ease to costs, or am I just going to have to suck up the high premium?

FWIW, last letter received from my insurers legal firm (dated 2nd Aug), says forms have been sent to court, who will pass them on, then give them 21 days to respond. Cutting it fine, but is it worth holding on to very last second to see if back down, before renewing? Insurance renewal is due 10th Sept.

InsideInsurance

If you stick with the same broker/ insurer combination then it should sort itself out automatically when the claim is closed down.

If you switch either broker and or insurer then you need to inform the broker beforehand that the claim is outstanding and the NCD currently impacted but you expect it to be resolved relatively shortly after renewal and ensure that they'll be able to amend the record and wont be charging an admin fee for it (or if they do then at least you know this and can factor it in your pricing calculations)

Arfa__

Sorting our the NCD record is one thing. It's more the fact I'll be paying a hell of a lot more than if it had been resolved and NCD was intact. I assume they don't give you a nice refund part way through the new policy when the claim is resolved!

Wondered if it did get resolved in a month or two, if I'd be better off cancelling the policy and taking out a fresh with my 1 year no claims in place.

InsideInsurance

Arfa__ wrote: »

Sorting our the NCD record is one thing. It's more the fact I'll be paying a hell of a lot more than if it had been resolved and NCD was intact. I assume they don't give you a nice refund part way through the new policy when the claim is resolved!

Wondered if it did get resolved in a month or two, if I'd be better off cancelling the policy and taking out a fresh with my 1 year no claims in place.

If you pay in lump sum then they should give you a rebate mid way or if you pay monthly then the remaining premiums should be adjusted to factor in the lower risk and any rebate for the earlier months.

Some insurers systems are terrible, old and find this difficult to do hence you need to confirm this all up front rather than buying first and then talking to them

Arfa__

Oh OK, that's better than I expected actually.

I'm probably going to stick with current insurer/broker anyway, as they still come up best on comparison sites on assumption claim was resolved.

Just spoke to legal firm, seems the other party hasn't submitted a defence, so now just waiting for court to server judgement in my favour. Either way, sounds like it's going to be a few weeks before it's resolved, NCD reinstated and cheque paid out.

Buzby

I was in the same situation - you need to see it through, as a switch will cost you considerably more (with a claim outstanding).

In my case a car did a u-turn in front of me, and I hit his offside rear door. His company wanted me to go 50/50 which I refused. Took them to court, and the day before the case called thy settled 100% to cover all my costs and new leathers, plus £200 for distress and discomfort.

A win due to no defence is problematic, as incompetence means they can pay and have the case reopened and heard.