Accident reported but no claims insurance doubled

zee34

Hi all


My car insurance is due for renewal, in december I reported an accident i had but no claims were made. Its gone up more than a 1000 pounds a year so of course im looking for a new policy. 
I had 3 years no claims discount, have I lost it even though no claim was made, i only reported the accident? Websites are not all clear.
Would it be worth it to go with a 3rd party, theft and fire insurance for one year for now to keep the cost low? 

400ixl

Your renewal documentation from your insurer should state how much no claims they believe you have. That is the first thing to check.

Sandtree

If it is a potential fault claim involving a third party (which can include street furniture) then it is likely that your insurers are holding an open file to see if any third party approaches them. As such it would count as a fault claim and impact your NCD until such point as they close the file, typically 3 months but sometimes a bit longer depending on who/what the third party is.

Your renewal docs will say how many years NCD they are basing their quote on and what claims experience. If it is showing 0 NCD and a fault claim then speak to the claims department first and see what's going on. It may be possible for them to close their file as it is circa 3 months and then requote based on the revised data (in the service team, not claims)

maxmycardagain

son had THREE "reported" incidents with no claims made....

he struggles to get insurance

theres a moral here somewhere

Ectophile

These days, the money you save by going 3rd party fire & theft may be very small.  It might even end up costing more.

Bigwheels1111

I kind of know your pain, I have a 5008 1.6 diesel, a race car with 120 bhp. Not.
11 years no claims and 1 at fault claim.
£1100, I don’t understand why it’s a 7 seat family car.
I found Bymiles insurance 3 years ago, first year £195.00 and 3.8p per mile I drive.
Year 2 £205 and 4.6p a mile, year 3 £227 and 5p a mile, This year £245 and 5.4p a mile.
I only do 2000 - 3000 miles a year.
You pay the £245 for fully comp, protected bonus, hire car and legal cover. This is for you car to be insured and parked.
You then pay the milage charge for each mile you drive, tracked by a black box plugged into your OBD2 port.
You pay the mileage fee on the 28th of the month like a mobile bill.

So for me it’s well under £400 a year.

DB1904

Bigwheels1111 said:

I kind of know your pain, I have a 5008 1.6 diesel, a race car with 120 bhp. Not.
11 years no claims and 1 at fault claim.
£1100, I don’t understand why it’s a 7 seat family car.
I found Bymiles insurance 3 years ago, first year £195.00 and 3.8p per mile I drive.
Year 2 £205 and 4.6p a mile, year 3 £227 and 5p a mile, This year £245 and 5.4p a mile.
I only do 2000 - 3000 miles a year.
You pay the £245 for fully comp, protected bonus, hire car and legal cover. This is for you car to be insured and parked.
You then pay the milage charge for each mile you drive, tracked by a black box plugged into your OBD2 port.
You pay the mileage fee on the 28th of the month like a mobile bill.

So for me it’s well under £400 a year.

I would expect to pay £245 all in for fully comp on that car.

Bigwheels1111

DB1904 said:

Bigwheels1111 said:

I kind of know your pain, I have a 5008 1.6 diesel, a race car with 120 bhp. Not.
11 years no claims and 1 at fault claim.
£1100, I don’t understand why it’s a 7 seat family car.
I found Bymiles insurance 3 years ago, first year £195.00 and 3.8p per mile I drive.
Year 2 £205 and 4.6p a mile, year 3 £227 and 5p a mile, This year £245 and 5.4p a mile.
I only do 2000 - 3000 miles a year.
You pay the £245 for fully comp, protected bonus, hire car and legal cover. This is for you car to be insured and parked.
You then pay the milage charge for each mile you drive, tracked by a black box plugged into your OBD2 port.
You pay the mileage fee on the 28th of the month like a mobile bill.

So for me it’s well under £400 a year.

I would expect to pay £245 all in for fully comp on that car.

Me too, it’s just a nightmare only group 19. I’ve had fast cars in the past and cost less than £500.

ontheroad1970

7 seater car means there are 6 potential claimants against the driver...

Goudy

There's a couple of things at play when it comes to insurane and no claims discounts.

First, your policy price will be based on risk.
A reported accident even if no claim was ever made would influence this price, same goes if you move to a different postcode or change your driving habits and start commuting, add or remove another driver and so on.

Next comes your no claims discount.
This is based on years which you haven't made a claim and is subtracted from your policy price as a percentage.

So for simplicity's sake, your last policy was £1000 based on the risk at that time and you have a NCD of 50%, this means you would have paid £500.

Now if your risk increased (in the eyes of the policy underwriter) and your policy is now £2000 but you still have 50% NCD, you would now pay £1000.

Generally if you make a claim your risk will likely increase and you would lose some if not all your NCD (depending on how much you had and if it was protected or not) so you suffer a double whammy, a policy increase and a decrease in discount.
So if your risk increased (£2000) and you lost half your 50% NCB due to a claim you would pay £1500. (£2000 minus 25%).

Lose all NCD (because of multiple claims) and it's the whole £2000 you would be paying on that policy.

Sandtree

maxmycardagain said:

son had THREE "reported" incidents with no claims made....

he struggles to get insurance

theres a moral here somewhere

yup, stop having accidents or parking in dodgy carparks etc