Should I inform my car insurance company?

1jim

raskazz, can I ask again if you work in insurance???

raskazz

1jim wrote: »

raskazz, can I ask again if you work in insurance???

Yes, and have had to void many policies due to such breaches. You probably won't believe me when I say, it gives me no pleasure at all normally. In most cases the culprit immediately shows genuine remorse - but at the end of the day a line has to be drawn. It is unfair to honest policyholders for them to pay higher premiums to cover those who are dishonest.

IMO it is simply not worth the risk to leave relevant information undisclosed - in cases such as the original poster's case, normally if you have a shop around at renewal (and follow MSE's excellent cost-cutting tips) the difference in premium is virtually non-existant - as you mentioned in your own particular case!

If people want to take their chances to save maybe £10 or £20 per year then that's up to them - as long as they know the consequences of the gamble not paying off - i.e. void policies; no cheap cover ever again; no payout when you need it; insurers suing you to reclaim money they are obliged to pay out to third parties.

shudder

raskazz wrote: »

insurers suing you to reclaim money they are obliged to pay out to third parties.

This is very true a friend of mine had an accident and it was discovered one of the tyres were bald (insurers allegations as police didnt bring charges for tyre and they attended the scene).

Their insurance company are now suing them for £45,000 which they have paid to third parties and at 19 thats one hell of a worry.