Motor Car Insurance gone up after claim

Hi there

My car was stolen in May 2012. I claimed against insurance and received a payout from RSA. Now my insurance quote for 2013 has gone from 480 euro to 1200. This seems extortionate to me ??

I had fully comp, 2 year step back no claims bonus protection with RSA. But somehow the extra premium I payed for step back does not make sense for the increase of over 700 euro.

Am i missing something here or does this figure make sense to others ?

I think 6 years is the max insurance companies regard for no claims (even though I had about 12 years true no claims build up).

Now it seems I cannot leave RSA or another company will not recognize any no claims (un der step back rule-although I havent quite figured this out yet)

Does anyone have any pointers for me here ?

e.g, other companies that might still accept no claims discount considering I had step back no claims bonus protection with RSA ?

Thanks a million for any help.

Regards,
Billy

If you are through a broker, contact him. If you are not, contact RSA immediately, certainly BEFORE renewal date. If your premium last year was €480 and you were on a 50% NCB, which I think (note think) is a full NCB, then your GROSS premium was €960.

Again, if you have a 2yr stepback, your NCB this year is 30%, indicating a premium of €675.

That is BEFORE any GENERAL increase in premium.

However, if your position is as you state, then you are not being charged the correct premium and you need to contact broker or insurer.

If you deal direct, I'd suggest you write by registered post, to whoever in RSA deals with complaints. You should be able to to get name from Policy documents.

ok thanks Ravima

The new quote does not make any sense to me at all...

Ill call them to discuss the renewel quote sent to me

Thanks again

Step-back or full no claims protection will not protect you from . This could add up to a lot depending on the amount paid out for the theft.

If there is a LOADING, then Policyholder must be told how much and what it for. it would usually be applied for convictions. I have never seen it applied for a theft.

I have however seen it applied for any type of claim including theft. As I said in my post - this could add up to a lot.

Other factors may have changed since the previous insurance too, ie. make, model, age of vehicle, area of use or where the vehicle is kept overnight - there are so many variables but I would concur with your statement Ravima.

If there is a LOADING, then Policyholder must be told how much and what it for

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