Car Insurance: Effects of Claims on New Policies?

Samsungnote10 on 19/01/2021 - 19:18
Last edited 19/01/2021 - 19:24

First time im getting insurance under my name for fair few years
been getting quotes online,
Get the usual, license cancelled/suspended etc, criminal offences, where is the car kept,
have you been declined before,

the "have you had any claims even not your fault in the last 3/5 years"

do they tend to decline your policy if you have made a claim?
Fortunately, I havent made one, except for one when I was a additional driver

if they do decline you, or your premium jumps, I can understand how much damage a single claim can do even if its not your fault

but it seems quite scary now to get insurance these days without signficant increases due to how you answer

Automotive

Comments

  • Hybroid on 19/01/2021 - 19:22
    +3

    Some may decline you but more often the majority will increase the policy premiums cost as you are seen as 'higher risk'.

  • nubzy on 19/01/2021 - 19:35

    Unlikely to get declined, but expect them to raise the premium - and usually quite significantly!
    However, if you were not the policy holder (and thus did not open and manage the claim) then you can answer no to that question even if you had an at fault accident.

    • Samsungnote10 on 19/01/2021 - 19:36

      yes intend/did answer no as thats a fact, however, Ill let the policy holder know, it was a few years ago, and I dont recall them mentioning an increase in premium

    • John Kimble on 19/01/2021 - 19:51
      +1

      However, if you were not the policy holder (and thus did not open and manage the claim) then you can answer no to that question even if you had an at fault accident.

      I'm fairly confident they ask how many claims per listed driver. I suppose if you don't list them, that is one way arround it, but then some places may not insure if a driver not listed has an (at fault) accident or place an additional excess on top?

    • Samsungnote10 on 20/01/2021 - 10:32

      you're right, managed to use budget direct to get a quote that I was able to toggle without submitting paying for it,

      I added a 3 year old $2000, partial responsibility, accident and the quote went from $1200 to $1320

      Feel sorry for those people that buy a new car, have a huge not at fault accident for a write off say in the first few weeks,

      their 2nd year premium renewal or new quote must be astronomical or outright declined

  • John Kimble on 19/01/2021 - 19:47

    Not exactly the same and every situation is different, but had an insurance policy with a premium of around $900, had an at fault claim during that year, excess was $600. And damages would probably have been at least $10k mark all up.

    When renewal came around it was around $1050 with the same insurer. I'm not sure if it was the lazy tax or an increase due to the accident/claim.

    Quotes from other insurers were above the $1400 mark.

    Obviously just renewed with them on this occasion.

  • conan2000 on 19/01/2021 - 20:09
    +1

    My partner had a claim a few years back, the premium went up about $100 the next year and then started coming down each year on renewal with the same provider.

  • SF3 on 19/01/2021 - 20:49

    the "have you had any claims even not your fault in the last 3/5 years"

    I think it affects your initial non claim bonus ( usually max at 60% ), they’ll start you on a lower rate (from memory).

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