Non-disclosure on insurance - how to rectify?

NewUserHere

In May 2010 a vehicle pulled up behind mine (which was parked on street - I was elsewhere) as they experienced technical issues. Their car went up in flames and took mine with it and spread to & caused damage to one in front of mine.
Mine was a private hire TAXI with a commercial policy on it.

So their insurer gave some 'our client wasn't negligent' !!!! and said they wouldn't accept liability for a claim. Regrettably I didn't pursue it at the time, so never made a claim, never reported an incident, just scrapped the car and moved on with life (wasn't an expensive car and already made my money from it so didn't affect me that much). I cancelled my policy at the time, drove for somebody else and never used the NCB for the commercial policy so 2 years later it expired unused.

Ever since then i've never given it a second thought until recently it came up in conversation with my partner and we thought 'actually shouldn't this have been declared over the years'. So put in a SAR with the CUE and to my surprised they have records of this incident. A claim was made by the other car for his total loss and i'm listed as a third party but with a payout value of £0 amongst other companies paid out by the insurer for recovery etc.
Also on record was my old commercial policy, they also recorded the fire. Obviously they would have asked why I was cancelling the policy so would have told them then.

So now i'm worried....
if I have an accident and they search the CUE my policy will be voided, i'd be screwed.
also worried if I ring my current insurer (I have 4 years personal NCB) they'll either cancel my policy or up my premium significantly knowing i'm bent over a barrel.
but if I cancel the policy and take out a new policy with the declaration my proof of NCB also lists 'claims' 'convictions' 'incidents'.

So how does one get out of this mess?

Ye ye, I know it was pretty dumb to never give it a second though.

forgotmyname

Informing them of the mistake could be less costly than needing to claim and them finding out that way and refuse to payout.

Claims, Accidents, Convictions but also losses.

rs65

NewUserHere wrote: »

but if I cancel the policy and take out a new policy with the declaration my proof of NCB also lists 'claims' 'convictions' 'incidents'.

So how does one get out of this mess?

Some insurers only ask for 3 years so you could have a fresh start.

NewUserHere

Sadly they require a 5 year history and it does specifically cover 'losses' as well as incidents and accidents.

Really not sure of the best way to sort this situation out

Marktheshark

The reason they wont pay out in situations like this is it is hard to prove they were negligent.

rs65

NewUserHere wrote: »

Sadly they require a 5 year history and it does specifically cover 'losses' as well as incidents and accidents.

Really not sure of the best way to sort this situation out

Try another insurer.

sh0597

Does it have to be declared?

Ectophile

sh0597 wrote: »

Does it have to be declared?

If the insurance company asks - and they will - then yes. Failing to disclose may lead to the policy being cancelled if the OP ever tries to make a claim. Having a policy cancelled for not disclosing material facts will make it very difficult (and/or expensive) to get insurance from any other insurer for many years to come.

straighttalker

Personally, I'd say no. That wouldn't be worth disclosing. Your vehicle was involved in an incident but it was neither and accident nor did you make a claim on your policy or any other policy. If it ever arises, tell your current insurer that you told your insurer at the time "for information purposes only".

arcon5

Whether you consider it worth disclosing or not is irrelevant though. The insurer sees the incident as relevant, and it is just that, an incident or loss, however you look at it.

How op can rectify it though I don't know as I've never seen a comparison site or insurer only ask for a 3yr history, they probably do exist though

dacouch

straighttalker wrote: »

Personally, I'd say no. That wouldn't be worth disclosing. Your vehicle was involved in an incident but it was neither and accident nor did you make a claim on your policy or any other policy. If it ever arises, tell your current insurer that you told your insurer at the time "for information purposes only".

Please ignore this advice as it could cost you a serious amount of money.

If you're asked a question to the effect "have you had any Accidents, Claims or LOSSES" within the last five years you must answer it truthfully