Advice needed re accident and increase in premium?

Discussion in 'Insurance not covered in other forums' started by Caroline1, Nov 19, 2016.

  1. Caroline1

    Caroline1 New Member

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    Hi I was wondering would anyone have any idea how much my insurance would go up with a 3000euro claim I have 6+ no claims bonus with step back on my insurance this year thanks
     
  2. Jimbobp

    Jimbobp Frequent Poster

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    558
    Its a bit of a 'how long is a piece of string' question, i.e It depends. Your insurer is the only one that can answer it and probably won't be able to tell you until next renewal date. There are alternative insurers on the market, even with a claim so make sure to shop around.
     
  3. Ravima

    Ravima Frequent Poster

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    2,230
    How much did you pay last renewal? If you had a 50% NCB, then double that to get the gross premium. Now what is teh step back? is it back to 20% or 30%. If 20%, then discount the 100% by 20% and if 30, then by 30.

    That will give you a very rough picture of where you stand.

    However, as Jimbobp has stated, the premium would have gone up even without the claim, so it is a very rough picture.

    Again, as pointed out, shop around.
     
  4. Caroline1

    Caroline1 New Member

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    3
    Thanks guys ....luckily the damage was only 500 so won't need to go through insurance thank god the other party wasn't interested in flecceing me
     
  5. mathepac

    mathepac Frequent Poster

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    This is a the cynic in me. Get the other party sign a receipt "in full and final settlement of all claims and damages arising from" insert details of the event. Sign of the times unfortunately, trust no-one, believe nothing they say.
     
  6. Caroline1

    Caroline1 New Member

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    3
    Very good advice mathepac wouldn't of thought of that .... Thanks
     
  7. Jimbobp

    Jimbobp Frequent Poster

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    And also be aware that if you do get them to sign that, its not worth the paper its written on and they can still come back and claim personal injury etc. I would notify your insurer just in case.
     
    Ravima likes this.