[pinco000]

Hi guys, the above is due very soon for me. So need to know this: Will my new insurer find out if I dont tell them I had a claim nearly two years ago? Im sure admitting will kill my renewal
price.
My m8 said to simply not tell them, that they wont find out anyway.
What do you guys think/suggest?
Thanks

[stote]

If you fail to disclose, it might invalidate your insurance in case of a claim .

[dy63]

is it worth it not telling them? if they find out your policy will be void and get cancelled and could they probably not give you your money back? also when you request new quotes I think its a question now if you have ever had your policy void or cancelled...if you select yes you might struggle to get insurance in the future.

[Thermobaric]

Not worth the risk imo.

[imy]

There is a central insurance data Base. All claims and accidents get recorded here. If you fail to disclose an accident and they find out on the database some insurers will refuse to insure you now or going forwards.

[JJ0063]

They will know, there is a Claims and Underwriting exchange.

I work for an insurance company.

They will discover the claim, ignorance is not bliss. You then risk having the policy cancelled which you then have to declare permanently that you had a policy cancelled for non-disclosure.

Simply not worth the risk, very silly thing to do.

[pinco000]

thanks for the advice gys, will disclose the claim then.
Just want to say that the system is very unfair and I would call it a legal theft.
Surely there is a difference if someone makes a claim on attempted car theft or if someone causes an accident etc.
Why charge me for next five years? I have done nothing wrong.
This is the reason why I was considering of not disclosing a claim from two years ago. Fair enough they took back money I claimed on my next renewal. Why 5 years?

[JJ0063]

Originally Posted by pinco000

thanks for the advice gys, will disclose the claim then.
Just want to say that the system is very unfair and I would call it a legal theft.
Surely there is a difference if someone makes a claim on attempted car theft or if someone causes an accident etc.
Why charge me for next five years? I have done nothing wrong.
This is the reason why I was considering of not disclosing a claim from two years ago. Fair enough they took back money I claimed on my next renewal. Why 5 years?

Simple answer is risk. I've worked in the industry for the past five years and know it pretty well now.

If you've had an attempted theft, the risk is high that a theft may occur.

If you've had an accident then the risk is higher on the basis that you may cause another accident, or if non fault then you may be driving in an area where an accident is more likely to occur.

It's literally all about risk, if an insurer sees someone or something as a high risk then they are going to charge a sufficient amount to lessen the risk to them.

You mention that you've done nothing wrong, but something must have happened which resulted in the claim hence putting you at a higher risk

People often ask why insurance is so much when their car is only low value and whatnot. It's not just about the value of the car, if you're driving a £200 shed and hit a £50k car or plow into a crowd of people then think of the costs involved.

I used to agree with people who would say it's legalised theft & all the usual comments regarding insurance premiums but now I know the industry I completely understand why prices are as high as they are. There is so many fraudulent people out there from crash for cash, non-disclosure of modifications/claims/convictions. It's just never ending.

[tadaska]

I switched insurance companies just now and did it all online but forgot to tell them about a claim I had about 2 years ago (not my fault). So I called them up and told them and it made no difference to the premium. Also, I asked if they want me to send them my 9 year no claim proof (that claim didn't affect it as I use a third party law firm to make claims) they said they can see my no claim proof online.

[pinco000]

Originally Posted by JJ0063

Simple answer is risk. I've worked in the industry for the past five years and know it pretty well now.

If you've had an attempted theft, the risk is high that a theft may occur.

If you've had an accident then the risk is higher on the basis that you may cause another accident, or if non fault then you may be driving in an area where an accident is more likely to occur.

It's literally all about risk, if an insurer sees someone or something as a high risk then they are going to charge a sufficient amount to lessen the risk to them.

You mention that you've done nothing wrong, but something must have happened which resulted in the claim hence putting you at a higher risk

People often ask why insurance is so much when their car is only low value and whatnot. It's not just about the value of the car, if you're driving a £200 shed and hit a £50k car or plow into a crowd of people then think of the costs involved.

I used to agree with people who would say it's legalised theft & all the usual comments regarding insurance premiums but now I know the industry I completely understand why prices are as high as they are. There is so many fraudulent people out there from crash for cash, non-disclosure of modifications/claims/convictions. It's just never ending.

so basically the insurers are making sure, that no matter what, they get their money back if they have to pay by increasing the renewal.
I get it, its a bussiness with one winner.
Also Im wondering what is this NCB about?
I paid £75 extra to get protection if I need it and once this attempted theft happened it didnt protect anything. I have lost my NCB years and got charged properly extra on renewal
£75 wasted

[abeardo83]

Also, knowingly not disclosing an incident when you apply for insurance is fraud...
Sorry to sound harsh, but your 'don't tell them' friend is an idiot.

[Thermobaric]

If you paid for protected no claims bonus, you should get it. I think it depends on how many years you have built up. 5, might take it down to 3. 3, might take it down to 1.

[JJ0063]

Exactly, if you've got 9 years and you pay to protect it you will not now have 0. Insurer dependant it may now be stepped back but you'll still have some.

Another misconception is "I paid for no claims protection but my renewal still went up" paying for PNCB doesn't mean you're fixing the price, you'll still get the discount for having NCB however the insurers may still load your premium for the claim.

[pinco000]

my conception was it protects NCB in the event of a claim
I lost one year..

[nicktyler]

Originally Posted by JJ0063

Simple answer is risk. I've worked in the industry for the past five years and know it pretty well now.

If you've had an attempted theft, the risk is high that a theft may occur.

If you've had an accident then the risk is higher on the basis that you may cause another accident, or if non fault then you may be driving in an area where an accident is more likely to occur.

It's literally all about risk, if an insurer sees someone or something as a high risk then they are going to charge a sufficient amount to lessen the risk to them.

You mention that you've done nothing wrong, but something must have happened which resulted in the claim hence putting you at a higher risk

People often ask why insurance is so much when their car is only low value and whatnot. It's not just about the value of the car, if you're driving a £200 shed and hit a £50k car or plow into a crowd of people then think of the costs involved.

I used to agree with people who would say it's legalised theft & all the usual comments regarding insurance premiums but now I know the industry I completely understand why prices are as high as they are. There is so many fraudulent people out there from crash for cash, non-disclosure of modifications/claims/convictions. It's just never ending.

The risk thing could be interpreted as 'an excuse' to put up the premium.

It just seems that if you do make a claim you pay a higher premium, and if you don't you pay higher for all those that do (just maybe not as much). Every body shares the cost but it is what you have to do to drive legally and hopefully get the help you need if something happens.

Very annoying though that we all have to pay for the ambulance chasers and crash for cash claims etc. Everybody but the insurance company that is...

[Thermobaric]

Does the cost of a claim have an impact on quotes/renewals? I'm sure years ago if you put in the details of an accident on somewhere like compare the market, it asked for a claim figure. Now it doesn't seem to ask. Just if you've made a claim. It doesn't care if you've written off a 458 or bumped a Focus?

[mjn77]

1 claim from 2 years ago, pfffffft, try 6 claims in 3.5 years

[pinco000]

wondering whats the premium there

[mjn77]

Originally Posted by pinco000

wondering whats the premium there

Mine?

£800 Mods declared.

[pinco000]

Originally Posted by mjn77

Mine?

£800 Mods declared.

for sure you dont live in London

[mjn77]

About 20 miles from London.