Insurance Rip Off - Again!

[Bustup15]

Renewed car insurance today, spent the normal few hours on comparison websites and selected a policy.

Passed through to the relevant website and it was unable to complete on line, this happened with a number of providers.

Rang this morning to be told I had failed to declare an accident in March 2016 - this was a no fault, no claim, no cost to insurance where someone reversed into my parked car in my company car park. The matter was settled by me repairing the vehicle and the offender paying me directly.

Net result on all the comparison websites where I updated the information was the net cost of annual premium rose by 20% - furious, especially as the incident would be 5 years old in March and not needed to be reported on line.

 

[Hirsch]

The only time I ever heard my old man swear was when he referred to insurance companies .

 

[phase3begins]

How did the insurance underwriters know about the accident you didn’t declare?

 

[68c]

How did the insurance underwriters know about the accident you didn’t declare?

Perhaps the other guy claimed.

 

[JJ]

Rip Off Insurance company?

Surely not...


JJ

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[phase3begins]

Perhaps the other guy claimed.

In which case there was a claim and the premium would rise....

 

[Coolcats]

Renewed car insurance today, spent the normal few hours on comparison websites and selected a policy.

Passed through to the relevant website and it was unable to complete on line, this happened with a number of providers.

Rang this morning to be told I had failed to declare an accident in March 2016 - this was a no fault, no claim, no cost to insurance where someone reversed into my parked car in my company car park. The matter was settled by me repairing the vehicle and the offender paying me directly.

Net result on all the comparison websites where I updated the information was the net cost of annual premium rose by 20% - furious, especially as the incident would be 5 years old in March and not needed to be reported on line.

I know this won't help however last June I had a runner knock the side of my van, I was driving slowly 7mph, I got out and asked if he was OK he feigned his elbow was hurt as the door mirror had hit it (cant see how my mirror hit his elbow if it was his ear I could understand!) I offered him first aid which he declined and repeated my reg number. I contacted the Police and made a report, then the insurance company. No claim has been made yet the insurance company has marked my file regarding the incident and added an administrative cost of £250 ! This affects my insurance policy and totally get why people do not report an incident. Once 12 months is up and no claim I am told this incident will be wiped off the record but like you it affects the premium, you may wish to check if a claim was made and who reported it, if no claim and no cost why is it on your record.

 

[David and Sally]

In which case there was a claim and the premium would rise....

But the OPs insurance company would not had to pay out. Rip-off insurance companies.

 

[Vanman]

I think they changed their wording several years ago, so now you have to tell them about all accidents even if there was no claim. Statistically they decide that you are more accident prone and up your risk assessment / premium.

 

[Charlie57]

Not they call it an accident and not a claim, if you don't declare even if you don't claim it will invalidate your insurance, if you declare and don't claim it will still increase the premium (if you have an accident weather or not you claim it increases the chance (risk) that you will have another) or that is how the insurance co will see it.
In an accident the person responsible will loose NCB and premium will rise, the driver not at fault will
keep NCB but premium will still rise. think about it that is how the can offer cover against damage caused by uninsured drivers without loosing your NCB the just ramp up the basic premium, simples

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[Bustup15]

In which case there was a claim and the premium would rise....

No, the other guy had no damage and didn't want insurance involved. He paid me directly and I paid for repair.

 

[Bustup15]

How did the insurance underwriters know about the accident you didn’t declare?

It was a lease rental, the 3 year contract expired the day after the accident therefore I had to notify them.

 

[phase3begins]

So, in summary, you were involved in an accident and you told the insurance company .

 

[simbadog]

Modern day highwaymen!

 

[robnchris]

I had a similar incident, A guy ran into my car in a Tesco car park, he didn't want to involve the insurance companies because his wife had been involved in an accident a few days before, `I took photos, swapped addresses etc and he paid for my repairs out of his own pocket.

3yrs later whilst sorting out the insurance renewal I was told I had been in an accident on such a date so my policy would be X amount of £'s more.
I queried the accident after a lot of hassle they told me my car had been written off and the claim was for £2500, I explained that the car hadn't been written off and was in fact in my driveway and incase they hadn't noticed that is the car I'm renewing the policy for.

In the end it took 3 months and many letters and phone calls to get this taken off my record, you just have to be persistent.

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[Bustup15]

So, in summary, you were involved in an accident and you told the insurance company .

In summary, someone caused minor damage to my vehicle when it was parked in a private car park and unattended.
Then insurance company incurred no cost and no claim but they profit each year for 5 years by increased premiums.

Rip off.

 

[phase3begins]

That is how underwriters work.
you were involved in an accident so you are perceived as an increased risk.
it is straight risk assessment

 

[pappajohn]

In which case there was a claim and the premium would rise....

There doesn't have to be a claim, just reporting an accident is enough to raise a premium.

 

[Mrsambulancekidd]

I think they changed their wording several years ago, so now you have to tell them about all accidents even if there was no claim. Statistically they decide that you are more accident prone and up your risk assessment / premium.

That's a bit rich if someone runs into you and your not at fault.......again, rip off insurance companies, they are robbers.

 

[gus-lopez]

In summary, someone caused minor damage to my vehicle when it was parked in a private car park and unattended.
Then insurance company incurred no cost and no claim but they profit each year for 5 years by increased premiums.

Rip off.

Yes ,utter scum

That is how underwriters work.
you were involved in an accident so you are perceived as an increased risk.
it is straight risk assessment

No it isn't. They should be doing it as it used to be done & is still here . The person who is too blame pays. the innocent party doesn't get mugged. The premium doesn't rise as the majority pay for the minority.

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[Carpmart]

The issue is that there are a LOT of poor quality Artificial Intelligence algorithms working out risk! Sign of the times and sad indictment of what’s to come!

 

[Bustup15]

That is how underwriters work.
you were involved in an accident so you are perceived as an increased risk.
it is straight risk assessment

You may be correct but the algorithms or program is patently wrong.

At the time of the incident I had business cover for 18000 miles PA and the insured vehicle was parked in a company car park during working hours.

The latest policy is for a different vehicle, insured SDP only, parked on home driveway during the day and for 3000 miles PA only. No business cover and no commuting.

Statistically an increased risk of accident - I don't think so.

RIP OFF

 

[Clipgate]

Remember the day that very nice person took your insurance premium, much lower than the previous insurer.
Such nice people so kind so polite.

Always remember it's business not a nice insurance company.

 

[Vanman]

That's a bit rich if someone runs into you and your not at fault.......again, rip off insurance companies, they are robbers.

I'm not disagreeing by any means, but there does seem to be an increase in people paying off multiple minor accidents to keep their premium down and then hitting the insurer / us for the big one. Just sayin'

 

[newcastlemartin]

How long is it going to be, before someone with some guts makes a list of people, working for themselves or a company, who does not act reasonably or the company involved treats it's customers with such actions. How about making a list of companies and grading their customer satisfaction rating, other than on their own sites, such that some warning pops up or sounds on the phone, to indicate the number called is on a list. Spending hours on the phone to someone who has to record so much detail and then ends up saying no insurance cover will be given, for some stupid reason, is just outrageous. Nobody is going to change anything until they are forced to.

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[Northernraider]

Because its a legal requirement to have it motor insurer's have always been rip off merchants
I got knocked down from 12 years ncb to 4 years on my motorhome last year

A skylight blew off my van in roquetas de mar when i wasnt in the van ...i returned from a walk and an English guy with a beat up old land rover who was parked near to me claimed the skylight had hit his land rover and he showed me a tiny scratch among the million other scratches that he claimed it had done.

I thought he was most likely at it and after money so told him to go through his insurance...and i informed my insurance that it was unlikely that my skylight had damaged his vehicle and that neither myself or anyone else was around to witness whether it had or not

8 months later they decided to take his word for it and paid out whatever to repair his vehicle.

It seems according to them that if anyone puts a claim in on your policy unless you can prove it didn't happen they simply take their word for it and you suffer.

Knowing full well that its a product you can't just refuse to buy.

No poor insurance companies

 

[Wee Bold Davy]

Going back over 25 years ago I worked as a 7.5 ton lorry driver for a large multi-national company under contract to another company. We had a dozen trucks working out of the depot and while there was no serious accidents, broken wing mirrors were a fairly regular occurrence. The company brought in a bonus scheme where as if you completed a whole month accident free you'd get a bonus payment which worked out about 2.5% of my monthly pay which was handy. The company also employed a retired police driving instructor to go out with each driver for two whole shifts to assess their driving and fill in a theory test. This happened each year. It must have been worth their while financially with regards to insurance savings.

 

[gus-lopez]

Knowing full well that its a product you can't just refuse to buy.

You can if you have plenty of money. 500k deposited with the Attorney General covers all vehicles you own + you get paid good yearly interest on it.Used to be 4%