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Do I notify
erasmus666
Posts: 14 Forumite
Mid-January I took out car insurance with a company, cover commencing mid-February. However, last week I had an accident which is being dealt with by my existing insurer. Do I have to notify my new insurer of the claim? As the accident hadn't occurred at the time I took out the policy, would they be entitled to charge an additional premium?
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Comments
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You will need to inform your current insurer ( see your policy document on notifications you must make)
Your premium was set based on the assumption that there would be no change before the policy started
So they will be entitled to charge extra
This claim will affect your NCD if you had any prior to it happening which will also affect the premium0 -
The accident happened last Friday evening. The claim was made on Saturday. The new policy doesn't come into force until this coming weekend.0
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Exactly why you need to report this now for the reason given in #2
The cover was granted based on the assumption no change to the information you gave on your application.
Now there is a change "all bets are off"
Contact your new insurer straight away and see if they are happy to continue, and if so at what (if any) cost.
If you had no claims discount when you made your application then the least you can expect is a premium increase, the worst that they no longer wish to cover you0 -
It cost me £50 in extra premium (approx 20% more) when this happened to me last year.0
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It cost me £50 in extra premium (approx 20% more) when this happened to me last year.
Lot cheaper than it will be with a voided policy for an undeclared incidentSam Vimes' Boots Theory of Socioeconomic Unfairness:
People are rich because they spend less money. A poor man buys $10 boots that last a season or two before he's walking in wet shoes and has to buy another pair. A rich man buys $50 boots that are made better and give him 10 years of dry feet. The poor man has spent $100 over those 10 years and still has wet feet.
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