Increase after a claim on House Insurance policy

[Leftfield]

Hi All,

I have recently contacted my house insurance provider regarding an item of jewellery which has been lost and I enquired about making a claim on the insurance. I was informed that if I did make a claim as well as the excess of €100 and losing my no claims bonus both of which I understand, my policy would increase by 30% when renewing it next year.

Is this par for the course for insurance companies to increase policies by such a high percentage.

All advice is welcome

Thanks

 

[Cervelo]

Is the 30% increase a result of losing the NCB or is it an increase on the gross premium charged compared to last year

I would expect that if I made a claim on my home policy that not only would I lose my NCB but that there would be an increase on the gross premium as well and that the size of the claim could factor in how much the increase would be

 

[Leo]

That is how insurance works unfortunately. Try some of the other insurers' online quote engines and see what kind of quotes you get with & without declaring a claim (use a false name).

 

[Feemar5]

Unless the jewellery is very valuable its not worth making a claim - you will only get part of your NCB back so you could be paying more for the next couple of years. When you get a quote from another company they ask who is your current insurer - I don't know if there is a check system in place between insurance companies but if you had a problem in the future and they found out there was something you didn't declare then your insurance could be cancelled.

 

[Slim]

We had a claim last year, building and contents, that was settled at c.€34k. I dreaded the renewal quote but it came in at about €50 increase or about 20-23%. I was quite relieved.

 

[noproblem]

That surprises me a lot. Is it possible you were you paying an unusually high premium before any claim was made?

 

[Ravima]

no matter the amount, the bonus is lost. same as motor insurance. same 'penalty' to policyholder. if you have a 50% bonus, the premium doubles. do the maths.