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Car theft
femster87 - 28/3/21 at 05:11 PM

Had my car stolen 3 weeks ago, insurance paid out now. Got new quote today for replacement car gone up when I add car theft by £600.

Questions is, I have another car, I am half way through the policy do I have to inform them of the theft. I really do not want to pay another £600 increase on that for something that was not my fault

steve m - 28/3/21 at 06:07 PM

If you dont declare, and have another "problem" the insurance will be void
The bastards have you every way they can

Simon - 28/3/21 at 07:43 PM

Even if you don't tell them, they will find out. Big bro knows everything (Motor Insurers' Database)

rusty nuts - 28/3/21 at 08:59 PM

Best to tell them . There was a brand new Audi delivered to an address in our village last Tuesday , the owner had never driven it , gone the next morning . Pity they don’t cut hands off of the thieving scum

cliftyhanger - 28/3/21 at 09:38 PM

The new poicy will ask if you have had any accidents, claims or convictions. Don't lie, it will make things worse down the line.
Yes, it is galling. But £600 increase? That is a lot, unless you lib=ve in a high risk area or have a poor insurance record. Or are buying something "interesting"

obfripper - 28/3/21 at 09:47 PM

quote:
Originally posted by femster87
Had my car stolen 3 weeks ago, insurance paid out now. Got new quote today for replacement car gone up when I add car theft by £600.

Questions is, I have another car, I am half way through the policy do I have to inform them of the theft. I really do not want to pay another £600 increase on that for something that was not my fault


In my experience with both points and no fault claims, they won't increase the premium mid term when informed (but some charge an admin fee to make the change), but it will be a factor on renewal premiums.
As mentioned, it will be a bigger problem if you don't tell them, ending up with a voided claim/cancelled insurance will increase your premiums in the future and possibly block you from getting insurance at all.

Dave

femster87 - 28/3/21 at 11:13 PM

quote:
Originally posted by cliftyhanger
The new poicy will ask if you have had any accidents, claims or convictions. Don't lie, it will make things worse down the line.
Yes, it is galling. But £600 increase? That is a lot, unless you lib=ve in a high risk area or have a poor insurance record. Or are buying something "interesting"


Thanks for this, I am not lieing at all. All declared on the new policy. I just wondered about the policy that is currently running now. It was renewed last November. As my premium at the time was based on the correct information, I just wondered if I had to declare a theft of another motor vehicle not related to that particular policy mid way through.

[Edited on 29/3/21 by femster87]

loggyboy - 29/3/21 at 12:16 AM

When I called re points I got mid policy they told me not to worry until renewal time. They wont adjust risks mid policy.

cliftyhanger - 29/3/21 at 06:24 AM

quote:
Originally posted by femster87
quote:
Originally posted by cliftyhanger
The new poicy will ask if you have had any accidents, claims or convictions. Don't lie, it will make things worse down the line.
Yes, it is galling. But £600 increase? That is a lot, unless you lib=ve in a high risk area or have a poor insurance record. Or are buying something "interesting"


Thanks for this, I am not lieing at all. All declared on the new policy. I just wondered about the policy that is currently running now. It was renewed last November. As my premium at the time was based on the correct information, I just wondered if I had to declare a theft of another motor vehicle not related to that particular policy mid way through.

[Edited on 29/3/21 by femster87]


Ah, I see what you are asking. Probably wise to inform the other policy insurer, I expect there is something in the T+Cs .

Had something similar a few years ago, Mrs got hit, and I totally forgot about it mentioning it to my insurers. Luckily, at renewal she reminded me. MAde about 20% difference. Which does seem unfair as the other party took responsibility. But hey ho.

Slimy38 - 29/3/21 at 06:53 AM

Have a look at closing the policy and starting again. I had a £300 increase to go from a Saab turbo to a Skoda Superb on the same policy, shopping around I saw new policies were £100 cheaper. Even though I 'lost' a years NCB I was already at 9+ so I didn't actually lose anything, and I saved £400. Obviously in your case if you're still building NCB then it could be a different outcome.

Changes mid policy seem to cost an absolute fortune. Declaring everything at the start of a new policy means that you get an insurer that is happy to accept the risk at a decent price.

steve m - 29/3/21 at 08:00 AM

Just rereading this, and would like to know why your premiums have gone up for a non fault claim ?

Ive had two claims in the last 15 years, one when my Mondeo got smashed up while stationary in a car park and we were shopping
5.5k worth of damage and no difference in my premiums

Also we had a house fire, 21k worth of claim, again no difference

I would be asking questions on why the increase, if it was a non fault

ianhurley20 - 29/3/21 at 08:43 AM

quote:
Originally posted by steve m

I would be asking questions on why the increase, if it was a non fault


They only deal with claims, doesn't matter whose fault it is unless you can claim against the other party, with a theft its not your fault but unless the thief pays back all costs its bye bye no CLAIMS discount and if your bonus is protected then you get loaded so that you end up paying more.

In answer to the op - yes tell the other insurance company, they will note the change but not make any price difference until renewal. That is what happened when I wrote off my Haynes Roadster

cliftyhanger - 29/3/21 at 08:50 AM

More importantly, the premium will usualy go up even with protected NCB.
That is because the base price of the premium goes up. Your fault or not, you are statistically a bigger risk, even from a no fault claim. So if the base price goes up 25%, so will your premium even after NCB is applied.
Basically the have you by the short and curlies.

Mr Whippy - 29/3/21 at 11:13 AM

stupid question but do you use a price comparison site? I change insurers ever year without fail as there is no benefit to brand loyalty, only hiked up premiums. Even evidence for NCD is handled automatically so there really is no difficulty in changing.

I made this mistake years ago with the house insurance just letting it renew for 8 years with the same broker. Only to then discover far too late I'd been paying over £700 a year more than other polices with better cover. When I questioned them on the phone the guy didn't even try to argue. I was more annoyed at myself tbh.



[Edited on 29/3/21 by Mr Whippy]

femster87 - 29/3/21 at 08:41 PM

quote:
Originally posted by Mr Whippy
stupid question but do you use a price comparison site? I change insurers ever year without fail as there is no benefit to brand loyalty, only hiked up premiums. Even evidence for NCD is handled automatically so there really is no difficulty in changing.

I made this mistake years ago with the house insurance just letting it renew for 8 years with the same broker. Only to then discover far too late I'd been paying over £700 a year more than other polices with better cover. When I questioned them on the phone the guy didn't even try to argue. I was more annoyed at myself tbh.



[Edited on 29/3/21 by Mr Whippy]


Yes, quote from compare the meerkat. Informed other insurers now

dmac - 29/3/21 at 09:33 PM

quote:
Originally posted by cliftyhanger
More importantly, the premium will usualy go up even with protected NCB.
That is because the base price of the premium goes up. Your fault or not, you are statistically a bigger risk, even from a no fault claim. So if the base price goes up 25%, so will your premium even after NCB is applied.
Basically the have you by the short and curlies.


Statistically you're exactly the same risk as you were before on the basis of the questions they asked for the quote (assuming that you answered them correctly) having a claim does not change probability but they charge you more because they can :-(

dmac

Mr Whippy - 30/3/21 at 07:55 AM

Another thing you could do is install a really good immobiliser and any other recognised anti theft device (there's usually a list on the comparison sites to pick from). What kind of car was it that was stolen? if it's an older car then that should really help take down your premiums. It can't hurt to actually call an insurance broker and ask them what they would recommend you could do that they would consider would reduce their risk.

femster87 - 30/3/21 at 07:57 PM

quote:
Originally posted by Mr Whippy
Another thing you could do is install a really good immobiliser and any other recognised anti theft device (there's usually a list on the comparison sites to pick from). What kind of car was it that was stolen? if it's an older car then that should really help take down your premiums. It can't hurt to actually call an insurance broker and ask them what they would recommend you could do that they would consider would reduce their risk.


595 Abarth. Apparently, they are getting stolen quite a bit now

femster87 - 12/4/21 at 12:00 PM

Getting interesting now, Kit insurer have now declined to renew policy follow declaration of theft.

Mr Whippy - 12/4/21 at 03:44 PM

Hmm well I think statically if you have had one theft or break in your are more likely to be again. Its kind of a fact unfortunately. Plus anyone who's stolen your car now knows a nice replacement is likely to be appearing soon.