I presume there is an excess attached to that policy?Is it worth claiming for something of this cost, in terms of its effect on our premium, or should we pay it ourselves?
Yes and yes. You may even find it difficult to get a quote from some providers after a recent claim.Does a claim affect our ability to shop around when our premium next comes due? Would it affect the premium levied by a new insurer?
The most recent renewal should have details of the composition of the premium, including any discounts or loadings applied.I'm not sure about whether or not we have a no-claims bonus.
The last time I had a likely claim my insurance company could tell me immediately and over the phone what it would mean for my renewal cost. (Spoiler alert: I paid it myself).Is it worth claiming for something of this cost, in terms of its effect on our premium, or should we pay it ourselves?
I agree. Insurance is basically for the house burning down. It's better to maintain a cheaper policy with a higher excess and maintain cash reserves to deal with issues as they arise out of pocket.In general, my approach to insurance has always been to only make claims in extreme circumstances
I agree.The most recent renewal should have details of the composition of the premium, including any discounts or loadings applied.
In general, my approach to insurance has always been to only make claims in extreme circumstances but to otherwise foot the bill myself for smaller issues.
In this case, maybe it would be better to use the sinking fund rather than claiming on the insurance?
Usually they list the base price and then any discounts etc. But I could be mixing up motor and property/other general insurance to be honest....I agree.
Will wait for other quotes for the problem before making a decision.
I cannot see no-claims bonus on the policy. It does say, "Claims History: No claims", and then it lists the premiums I quoted above.
Thanks.
D.
Good point. I'm not sure. I think that the excess for water incursion is €1350.Additional thought.
Would the policy actually cover this loss anyway ?
Some policies specifically exclude gradually operating events such as water ingress, dampness and the like.
So, it could be that the insurance policy would not operate for this event.
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