Student insurance policy premium

wundress

InsideInsurance wrote: »

If the excess has been deducted then she has simply claimed off her own policy.

The third party is liable for the incident and so her insurers will make a counter claim under their subjugated rights for their outlay against the TPI but that is moderately irrelevant to her.

Thanks for clarifying... this doesn't seem to have been explained to my friend. I thought it was a bit odd if the other side had paid but then denied liability. It's just she keeps saying that the other side offered £x amount for her vehicle.

Does this mean her premium will increase for claiming from her insurance? Because at the moment she's under the impression that she hasn't claimed from her insurance and so her premium won't be affected.

InsideInsurance

wundress wrote: »

Thanks for clarifying... this doesn't seem to have been explained to my friend. I thought it was a bit odd if the other side had paid but then denied liability. It's just she keeps saying that the other side offered £x amount for her vehicle.

Does this mean her premium will increase for claiming from her insurance? Because at the moment she's under the impression that she hasn't claimed from her insurance and so her premium won't be affected.

No more than id she had claimed directly from the other side.

Insurers define "fault" based on if they have a net outlay at the end of the claim. If they get all their money back they have a 0 net outlay and so its a non-fault claim. If the TP was uninsured, hadnt stopped or it was your friends fault then all of these count as a "fault" claim because when alls done and dusted her insurer would have paid out and not been able to recover

Quentin

wundress wrote: »

Does this mean her premium will increase for claiming from her insurance? Because at the moment she's under the impression that she hasn't claimed from her insurance and so her premium won't be affected.

Until liability is resolved, this can affect her premium (depending on when her renewal is due and whether she is held in any way liable for the incident)


If she has unprotected NCD then this will be reduced pending the outcome of the claim.
Until her insurer is fully reimbursed their outlay any renewal of the policy will be based on both any reduced NCD and the claim being considered as a fault claim


Whatever the outcome, she has claimed off her insurance and must disclose the claim when approaching other insurers for quotes over the next 3/5 years, depending on the length of history asked about