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Car Insurance confusion

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  • 20-12-2013 9:27pm
    #1
    boardbeliever
    Registered Users Posts: 1 ✭


    Had an accident one month before my premium renewal date in 2012. Premium for 2012-2013 was uneffected to the freshness of the claim and the insurer had already sent notification of 2012-2013 premium to me. I heard that once the written notificiation of premium is sent by the insurance company (one month before renewal), they are committed to it. So one month after the claim on my policy, I wasn't penalised. Phew!

    Awaited the Premium renewal letter for 2013-2014 with trepidation, it fell on the mat, I opened it with that feeling of impending doom, still no penalty to me! No loss to NCB and the cost of insurance was as one would expect for a 21 year old with 2 years NCB. Paid it with pleasure and asked no questions.

    I was recently informed the person who claimed from my insurance was paid in excess of €20k. The claim was finalised in November 2013.

    Will my insurance company penalise me for this claim at 2014-2015 renewal, or should they have sorted this out 2013-2014.

    To cut this long story short, how soon after a claim is instigated and under investigation, should one suffer the consequences??:P


Comments

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    #2
    oldyouth
    Closed Accounts Posts: 4,754 ✭✭✭oldyouth


    Firstly, that committed to a renewal invite within a month isn't true. Insurers can withdraw their terms up to the renewal date. In practical terms, they hardly ever do.

    Assuming you don't have Bonus Protection, they should stop it at the next renewal. If the incident is serious enough, they can wait and load any future renewal as soon as they establish that you were liable for the accident, even if it is still outstanding. Your circumstances sound unusual


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