Insurance info following total loss claim

funnyonion1

Hi all. I think I know the answer to this, but wondered what the consensus was. 

Car was stolen after house broken into. Insurers responded and paid out on claim (total loss). My question is, when I get a new car, do I need to change policy info (mid term change) to include both: a) the new car reg etc; AND b) add on the claim? Or do I only declare B at renewal? They clearly know of the claim as they have paid out. Policy wording/docs are silent on this specific scenario. Their email confirming the claim is paid and next steps I need to take only states I need to change new car details now. 

Thanks all

KP20

Not 100% sure but doesn't your existing policy cease completely in the instance of a total loss? So it would be a new policy for your new car?

DullGreyGuy

funnyonion1 said:

Hi all. I think I know the answer to this, but wondered what the consensus was. 

Car was stolen after house broken into. Insurers responded and paid out on claim (total loss). My question is, when I get a new car, do I need to change policy info (mid term change) to include both: a) the new car reg etc; AND b) add on the claim? Or do I only declare B at renewal? They clearly know of the claim as they have paid out. Policy wording/docs are silent on this specific scenario. Their email confirming the claim is paid and next steps I need to take only states I need to change new car details now. 

Thanks all

Most insurers allow you to transfer the existing policy to your replacement vehicle if it's done within X days (normally circa 21-28). As per normal CIDRA legislation, you only need to answer the questions they ask you honestly/completely and dont need to offer up anything they dont ask you about. You'd expect them to only ask the details of the new vehicle as an MTA.

If your insurer doesn't do this or your unable to get a replacement in the allowed time then you'd be buying a new policy in which case the same thing about questions applies but this time they'll be asking about previous claims and the the theft would need to be declared. 

funnyonion1

KP20 said:

Not 100% sure but doesn't your existing policy cease completely in the instance of a total loss? So it would be a new policy for your new car?

No, the policy continues. 

funnyonion1

DullGreyGuy said:

funnyonion1 said:

Hi all. I think I know the answer to this, but wondered what the consensus was. 

Car was stolen after house broken into. Insurers responded and paid out on claim (total loss). My question is, when I get a new car, do I need to change policy info (mid term change) to include both: a) the new car reg etc; AND b) add on the claim? Or do I only declare B at renewal? They clearly know of the claim as they have paid out. Policy wording/docs are silent on this specific scenario. Their email confirming the claim is paid and next steps I need to take only states I need to change new car details now. 

Thanks all

Most insurers allow you to transfer the existing policy to your replacement vehicle if it's done within X days (normally circa 21-28). As per normal CIDRA legislation, you only need to answer the questions they ask you honestly/completely and dont need to offer up anything they dont ask you about. You'd expect them to only ask the details of the new vehicle as an MTA.

If your insurer doesn't do this or your unable to get a replacement in the allowed time then you'd be buying a new policy in which case the same thing about questions applies but this time they'll be asking about previous claims and the the theft would need to be declared. 

Yes I am allowed to transfer policy to new car. 

Thanks for your input regarding responding to questions asked.