Motor Struggling to get insurance after an accident

E

eoinf123

Guest
any advice for someone who has lost their no claims bonus due to a claim (including a 3rd party) which still isn't settled?

I was ringing around to get an indication of prices but the cheapest quote is €2200 , my renewal is due from my current company in a week or two and they are unable to give me a price before that, god only knows what it is going to jump to.

the problem is i need to get a new car but i am not sure if i can afford it if my insurance is going to be so prohibitive.

What are my options? has anyone found them self in this position before?
 
You MUST get renewal terms well in excess of 'a week'.

What did you pay last year, and what was your NCB last year?

If you had a full NCB last year, (50%), then the premium will double this year, assuming you don't have protected NCB. If you have protected NCB, have a look at policy wording. With some FBD policies, your NCB is not affected at all following a claim, wheras with other companies and other FBD ones, it is steped back by either 2 or 3 years, that would be going form 50% to either 30% or 20%.

It is very unlikely that you will be able to move if the claim is pending since last renewal.
 
Its all happened very quickly
Crashed a week ago, both cars written off amounts agreed. It is still open due to 3rd party personal injury potential claim.

I had 3 years ncb which is gone completely.

Renewal notice was due this week but held back due to the claim.

I cant even get a quote with the pending claim but need to get a new car this week. I am reluctant to do this until i find out how much it would cost to insure. Only one company was willing to quote but the excess was é2000

While i fully understand the situation i am in, no Ncb and a claim still open, i feel i am left completely in limbo. I knew the premium would go up but i didnt think it would quadruple in price.

A jump from ~550 to ~2200 seems very unfair.

To get even an indication of price (i am not saying i would give false info) i told a few companys the claim was settled for 10,000 (which if no personsl injury claim is submitted is probably an accurate figure) and all insurance companys and brookers bar 1 refused to quote.

Some said they wont take on anyone with a claim in the last 3 years. Another company said they wont take on anyone under 30 with no ncb, i am 29. Surely i amnt the first person with an insurance claim to look for a quote. What do people do after a claim. A few people were just arrogant towards me. Others appologised nicely but still basically told me no chance.

I rang about 6 different places with only one place quoting.
 
No one is obliged to quote besides your previous insurer. A lot of companies have acceptance criteria and if you are outside of that then its a no quote. The bottom line is that no company is going to take you on with a personal injuries claim outstanding and you are going to have to grin and bear it with your existing crowd.
 
No one is obliged to quote besides your previous insurer. A lot of companies have acceptance criteria and if you are outside of that then its a no quote. The bottom line is that no company is going to take you on with a personal injuries claim outstanding and you are going to have to grin and bear it with your existing crowd.

not getting at you but i really don't appreciate the term "grin and bear it".

i totally fell like they have me over a barrel and are ultimately recouping the vast majority of the cost of the claim by over quadrupling my premium.

I acknowledge i had a claim and knew i would loose my NCB which was only two years anyway (~20-30%) but to then screw me ontop of that just seems extremely unfair.
 
Suck it up so! ;)

In the end of the day an insurance company is in the business of making money. However if were to look at their calculation of your premium you will probably just find the base rate before they applied any no claims bonus was probably up 30% to begin with depending on your insurer.
 
ultimately recouping the vast majority of the cost of the claim by over quadrupling my premium.

I think you said it's a different insurer who quoted you 2200? Perhaps you should wait and see what your current insurer quotes you and then try and see if they will lower it if you opt for a higher excess or something.

I don't really see how you can get actual quotes from any other insurer before the settlement figure is known... really unfortunate timing for the accident.

I reckon your current insurer is still obliged to send your renewal notice 14 days before renewal date.
 
Back
Top