Car insurance claim FBD this week after renewing 2week ago. Hike this year or next?

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gebbel

Registered User
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I made a car insurance claim this week for the first time after an accident. The amount will be around €5K....no other car involved.

I only renewed my insurance 2 weeks ago. My current policy expires at the end of the month. All this with FBD insurance.

Are my insurance company likely to raise my premium now or will they leave it until 2012? I had 3 years no claims bonus but don't have claims protection on it.

Thanks.
 
If you have paid your premium for the 2011/2012 year the drop in your no claims discount will not come into effect until the 2012/2013 year.
 
So just to clarify: my policy expires today. 3 weeks ago, I renewed the policy with the same company and paid up in full. A week later, I had the acccident. I was asking if, even though I had paid up in full, the insurance company might pursue me for more, as the claim is not under the renewed policy.

Thanks all.
 
It may be possible for the insurer to revise terms prior to renewal even if you paid the premium. Read the renewal notice. If there is any mention of subject to no claims/changes prior to renewal or words to that effect, the insurer may ask for a higher premium now. An accident/claim is a material change. Renewal terms were issued based on facts pertaining prior to the claim. They may waive this as you paid the premium, but I would doubt that they must waive it.
 
Lets be clear here -they won't "waive" it! Best they will do is delay your pain until the next year! But its more likely that if the policy doesnt expire for 3 weeks they may step back your bonus for the coming year!
 
gebbel said:
as the claim is not under the renewed policy.

Thanks all.
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Not quite sure what you mean when you say 'is not under the renewed policy'. As I mentioned earlier you have renewed your policy for 2011/2012 and most companies will reduce your bonus at renewal in 2012.
 
If what you are say Gebbel is that you transferred insurance companies when renewing. Then you need inform the new company that your NCB has been prejudiced in the meantime. If you don't you run the risk of having your policy voided should they discover this!
 
peteb said:
Lets be clear here -they won't "waive" it! Best they will do is delay your pain until the next year! But its more likely that if the policy doesnt expire for 3 weeks they may step back your bonus for the coming year!
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I should have been clearer peteb, your right. I don't mean waive forever, just in respect of this yrs premium. As an aside, given that insurance rates generally rise year on year, it may be more advantageous to have the bonus reduced this yr as the % discount will likely be worth more next yr.
 
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