Motor Cancellation of policy after accident

[dd77]

Hello

I have a question: what can happen if I cancel my policy after accident where I was at fault and there are claims against me(personal injury). My car is written-off. The claims are already in progress. So, if I cancel my policy will my insurer still be dealing with those claims ? Even if they will agree to cancel my policy, can they(my insurance company)claim some money for the rest of premium(the accident happened in 3rd month since the start of the policy)after the settlement?

 

[vandriver]

I know in my own policy,a refund of unused premiums is only paid where no claim has been made.

 

[Claimsman]

Hello

I have a question: what can happen if I cancel my policy after accident where I was at fault and there are claims against me(personal injury). My car is written-off. The claims are already in progress. So, if I cancel my policy will my insurer still be dealing with those claims ? Even if they will agree to cancel my policy, can they(my insurance company)claim some money for the rest of premium(the accident happened in 3rd month since the start of the policy)after the settlement?

Have you asked them? I suspect if you cancel your policy, you will have to pay the full annual premium, or they wont deal with your claim.In relation to household policies, if a claim is made and the insured cancels the policy, they are not entitled to a refund of premium. I would suspect that the motor policy is similar. If you think about it, why should an insured get the full benefit of cover in the event of a claim, when they have only paid part of the premium? The period of policy cover is one year and not one month at a time.The only reason that insurers accept monthly payments on premiums is to make it easy for people to pay, not because they provide cover on a month to month basis.

 

[POTY]

Hello

I have a question: what can happen if I cancel my policy after accident where I was at fault and there are claims against me(personal injury). My car is written-off. The claims are already in progress. So, if I cancel my policy will my insurer still be dealing with those claims ? Even if they will agree to cancel my policy, can they(my insurance company)claim some money for the rest of premium(the accident happened in 3rd month since the start of the policy)after the settlement?

Nothing as such will happen.

If for example your premium is €1,000 and you only paid €100 you still owe the €900 if your are claiming - ie. if your vehicle is worth €900 then you will get NOTHING for your claim.

The remaining balance will be taken away from any possible payout that you may be *entitled* to.

Your insurer will be still dealing with any claims for the third party.