Insurance CONundrum.

[SD1too]

Originally Posted by wraymond

Quite a few assumptions there Simon!

It's just my personal view, of course, but regarding competition ...

Originally Posted by wraymond

With hundreds of companies and brokers chasing the same market it’s certainly competitive!

There aren't hundreds of companies Ray. It's a branding exercise. The big boys operate multiple brands but they're clever enough to charge different premiums which persuaded the authorities that they were actually in competition!

Originally Posted by wraymond

4. It varies only when considering how the insurer or repairer can trade it on!

The insurer or repairer doesn't own the vehicle, the policyholder does. It should be the customer's right to have the vehicle repaired, irrespective of trade-in value, if he/she so wishes.

Thanks for your comments Ray.

Simon

[VVC-Geeza]

Originally Posted by wraymond

Thoughts occur Mick.

Was the renewal at the exact and proper contract date?
Did you actually have sight of the claim papers, or any other indication at the time of the incident, that acknowledged your non-liability?
Have you any correspondence from any source concerning the incident?
What percentage increase of the expiring premium was the new premium?

It sounds to me like a basic rating increase rather than a penalty or liability charge. You can ask, even demand, copies of all correspondence relating to that incident if it affected your renewal.

You can formally request details of current premium rates compared to most recent ones. You are entitled, and they must comply, to enquire about precise details about rating increases compared to last renewal. They'll wriggle, but the word 'ombudsman' is powerful.
Only you can decide if in your case it's worth it!

I would, and for every last penny. (25 years in the biz)

Hi Ray
as mentioned,the car who's insurance I was renewing today was not the car I was in when the accident occured back in January.So yes the renewal today was cotractual and needed to be done by the 24/5.So when I rang to renew today I declared the non fault accident I'd had earlier.The assistant didn't ask any details of the accident nor proof of third party liability.She just ran the quote again and told me the accident meant an additional £20.Yes I'm aware it won't break the bank but it's the principal of it costing me any extra.I have received the full payout from the other drivers insurers and also checked with my own insurer that the case is now closed.They assured me the file has now been closed.


Incidently it was a nasty crash which spun me one and a half times and blocked the road in both directions,with 5 police cars attending.I finished up facing the opposite way from from which I was travelling.The police prosecuted the other party for dangerous driving.Luckily I had three lots of cast iron witnesses from cars following behind and others walking along the pavement,all of who gave statements to the police.

[wraymond]

Thanks Mick. That confirms (for me) that it was an exercise in opportunistic premium growth and not related to your risk profile.

I would pressure them (as far as you can!) into a written explanation for the 'unusual premium revision' (if you do that, use that term) that was only imposed when you volunteered the incident details and the fact that you bear no responsibility. It's a common fallacy that having one no-fault accident makes you more likely to be a future risk.

In other words, and if you were dealing with an intermediary, it is not insurance underwriting related but rather agency income. But then, I've got nothing else to do!

[wraymond]

Something else just occurred! The accident you mention – was the car you were driving insured under your own policy number and in your name? It’s not unheard of for the other side to allege partial joint culpability or attribution of blame and to agree an internal operational division of any claim.

I would want to see written recognition of your insurer’s agreement that you bear no liability for the accident. If you got that, there is no justification for the increase other than a rate surcharge. Sometimes these things can be just a tip of an iceberg and you have no idea what is yet to loom. Bear in mind I am an awkward so-and-so and like all the t’s crossed. Not that I'm paranoiac of course.

[VVC-Geeza]

Originally Posted by wraymond

Something else just occurred! The accident you mention – was the car you were driving insured under your own policy number and in your name? It’s not unheard of for the other side to allege partial joint culpability or attribution of blame and to agree an internal operational division of any claim.

I would want to see written recognition of your insurer’s agreement that you bear no liability for the accident. If you got that, there is no justification for the increase other than a rate surcharge. Sometimes these things can be just a tip of an iceberg and you have no idea what is yet to loom. Bear in mind I am an awkward so-and-so and like all the t’s crossed. Not that I'm paranoiac of course.

Hi Ray


yes it was insured under my own policy number and in my name.I haven't had written confirmation from my insurer that I was not to blame,just a telephone acknowledgement that the file is now closed.I also received a full settlement from the other party insurer.


I have also been warned to expect a higher premium for the car involved in the accident when the renewal becomes due at the end of next month.

[wraymond]

When that comes up for renewal check the NCD allowance first (if applicable). Then, well before the due date, ask for written confirmation (if not on the new docs) that you have not been penalised for the earlier event with that event dated. In writing. Then back to the punting.

You have to work for it and it doesn't always work but well worth a try. The clerk is your friend under orders from their employer, so perpetual niceness is the only way rather than frustration! Most of us just pay up with a moan. I'd sooner spend the difference on a nice bottle of wine. Not while driving. Obvs.