Car Insurance costs following Car accident

sup4m

Hello,

I was recently involved in a car accident earlier this month, resulting in a total loss. My insurance was approximately £1200 per year, taking into account my one-year NCD (No Claims Discount).

Before this, I experienced another total loss accident last year. 

After this recent incident, insurance quotes for a similar vehicle are now averaging around £4000 + per year. While I anticipated an increase, I'm wondering if this level of rise is typical?

Additionally, could the costs potentially decrease if I wait a few months before obtaining another vehicle and applying for insurance?

DullGreyGuy

Were they fault or non-fault claims (fault by an insurers definition is if they have a net outlay at the end of the claim, nothing to do with if you are to blame or not)?

Certainly aggregating factors like claims have a compounding impact so the impact of the 2nd accident in a 2nd year will have much more impact than the first one did.

sup4m

DullGreyGuy said:

Were they fault or non-fault claims (fault by an insurers definition is if they have a net outlay at the end of the claim, nothing to do with if you are to blame or not)?

Certainly aggregating factors like claims have a compounding impact so the impact of the 2nd accident in a 2nd year will have much more impact than the first one did.

Hello thank you for your response.

From what I understand last year was a fault, my car aquaplaned on the motor way there was no other vehicle involved. 

The second accident is not yet resolved. 

prettyandfluffy

At present, insurers require you  to declare accidents for the previous 5 years so waiting a few months won't make any difference.  You are either very unlucky or a poor driver, maybe you should consider doing some additional/advanced driver training that might improve your driving and possibly your premiums?

ch3shirecat4

Does adding a black box make any price difference for you?

[Deleted User]

If the most recent one is non fault you can claim the increase from the 3rd party.