Do travel insurance claims affect buildings and contents premiums???

kitkatt2

I need to make a travel insurance claim for my camera which was damaged whille on holiday.. with the £60 excess I will be claiming for about £120. I am wondering if this claim will affect any buildings and contents insurance premiums.. and if so by how much as I may not put the claim in if it makes a big difference. Although.. what is the point of insurance if you fell you can't make a claim!

*MF*

With anything "insurance" I always walk in dread of saying 100% anything - so I am 99.99999 (etc)% sure it will have no effect whatsoever.

One point to watch however, if your contents insurance has extra cover - usually called something like "personal possessions" - it may also provide cover for the camera - worth checking this - just in case the travel insurers ask you if you have such cover. If you do have such cover - both it and the travel insurance will be involved.

But I still don't think one claim (either way) will affect you - so 99.999998% - ok, lol.

Oscar_The_Grouch

MF is correct. There is an agreement with the Association of British Insurers that satates:

1. Provided the amount of the settlement exceeds £125, whichever insurer you claim off can make a claim against the other one.
2. The insurer you claim off first can deduct NCD and put premiums up; the contributing insurer cannot (in relation to that claim only)
3. The contributing insurer has no right to argue general principals, such as the "duty of care".

Essentially, this means that if you claim from the travel insurer, they may be able to make a claim against your home insurance but you keep your household no claims bonus. If your home insurer is registered with the Claims and Underwriting Exchange (CUE), then a claim will appear in your insurance history but all insurers should ignore it.

Hope this helps, but do remember that your travel insurer may make a deduction from the settlement for wear and tear which your home insurance would not. ie, you would get a better settlement from the home insurer, but lose your NCD.