Car Insurance Loading premium

Miss_Chilli · 3 December 2015 at 6:07PM

Hi

Just wanted to understand if people know this?

When you have a no fault accident, you keep your no claims bonus and are able to claim reasonable expenses back. That is a given, but how many people are aware, that insurance companies then load your premium for future years premiums (3-5 years) by up to 30% purely because they state statistical analysis shows that if you have claimed (regardless of fault) that you are more likely to claim again.

I really feel that this is morally reprehensible as a driver that just happened to get in the way of a third party not paying due care and attention, my future insurance premiums will rise through no fault of my own. I understand cost of living rises etc, but not because somebody crashed into me.

Next time you are searching for a quote, try getting one with a Non Fault Accident and one without any fault accidents checked to see what the difference in premiums are. It would be interesting to see what the differences are for other people, and how many people are aware of this loading charge.

The difference for me is around £60-70 on an annual basis.

My accident was in March, I have a dash board camera which clearly shows the faulty driver, Direct Line admitted liability but haven't paid out yet. I have also been informed that I cannot claim this loading cost from the third party.

I know life is unfair and insurance companies will get you what ever way, and this is a standard across the industry, but I really believe this charge being added to the premium is misleading to the customer as I imagine not many people know it's there.