Accident and Insurance Implications
Discussion
Crashed my company car today.
Not at fault, my car a newish Skoda Octavia, third party a new Mercedes A Class.
Lots of damage. Big claim pending no doubt.
It's my first bump in 23 years.
Question to those in the know is I am aware of being asked every year when renewing my insurance the ask "have you made any claims or have you had any accidents fault or no fault in yhr last 5 years".
Well I hadn't but now I have.
I have inherited my 89 year old dad's old Kia Soul which he prefers to be run about in as it's easier to get in and out of than the lower seats in my Company Skoda. I also run an old MGTF as a summer fun car and am a named driver on Mrs TBH's BMW.
Will this accident impact on the quotes I'll receive from the vehicle's insurers and if so how much?
Not at fault, my car a newish Skoda Octavia, third party a new Mercedes A Class.
Lots of damage. Big claim pending no doubt.
It's my first bump in 23 years.
Question to those in the know is I am aware of being asked every year when renewing my insurance the ask "have you made any claims or have you had any accidents fault or no fault in yhr last 5 years".
Well I hadn't but now I have.
I have inherited my 89 year old dad's old Kia Soul which he prefers to be run about in as it's easier to get in and out of than the lower seats in my Company Skoda. I also run an old MGTF as a summer fun car and am a named driver on Mrs TBH's BMW.
Will this accident impact on the quotes I'll receive from the vehicle's insurers and if so how much?
I, unfortunately, crashed a car last year into a verge (nobody else involved made it easier than other possibilities I suppose 
) and was thinking the same. It was a classic policy so NCD not affected but will declare it at renewal, it was £3k.
You can run insurance quotes on any comparison site, meerkat, confused, etc with or without a claim, leaving all other details the same. The differences vary depending on the car of course. About £20 for my car insurance but likely about £50 for my motorcycle insurance.
YMMV.
Whether or not you have points on your licence, where you live, etc, the normal insurance caveats will matter.
) and was thinking the same. It was a classic policy so NCD not affected but will declare it at renewal, it was £3k.You can run insurance quotes on any comparison site, meerkat, confused, etc with or without a claim, leaving all other details the same. The differences vary depending on the car of course. About £20 for my car insurance but likely about £50 for my motorcycle insurance.
YMMV.Whether or not you have points on your licence, where you live, etc, the normal insurance caveats will matter.
sherman said:
Yes.
It will be more.
How much is up to the insurance gods.
I wouldnt be expecting quotes to double but at least the first year is going to be 10-25% more than before.
Or not. We made a claim and the renewal was down (even before shopping around). Ultimately you need to declare it but it may or may not affect the premium…It will be more.
How much is up to the insurance gods.
I wouldnt be expecting quotes to double but at least the first year is going to be 10-25% more than before.
Someone tapped the rear of my BMW 330i in 2023 and I claimed from their insurer. Because it was over 17 years old they made it a Cat N and as they were mean only valued it just above £2K.
Anyway when I told my insurer next renewal they added about £40 to the premium, but that may have been because they were upset I didn't report it to them at the time!
But when renewal for my fun car (BMW Z4M) came along it didn't make any difference to the quotes I got for that.
Just my experience though as all insurers seem to work to their own rules!
Anyway when I told my insurer next renewal they added about £40 to the premium, but that may have been because they were upset I didn't report it to them at the time!
But when renewal for my fun car (BMW Z4M) came along it didn't make any difference to the quotes I got for that.
Just my experience though as all insurers seem to work to their own rules!
I had my first ever accident (no fault) a couple of years after 35 years of driving. I declared it and premiums remained pretty much unchanged. I may be naive in my thinking but I presume the insurance companies take into account your driving history and see you're probably still a relatively safe bet. There are lots of people out there who have lots of accidents on a regular basis. It sounds like you're not one of them.
ScoobyChris said:
Or not. We made a claim and the renewal was down (even before shopping around). Ultimately you need to declare it but it may or may not affect the premium
Is the correct answer, I've had 2 claims in the last 10 years, 1 fault and 1 non-fault, both times the next year's insurance was no more than the previous one, Unfortunately, you won't know until you get quoted for a new premium.sherman said:
Yes.
It will be more.
How much is up to the insurance gods.
I wouldnt be expecting quotes to double but at least the first year is going to be 10-25% more than before.
Absolute rubbish. It might be more, it might be 10-25% more. It might be 5% or 30% more, It might make no difference at all. You don't know, and neither do I. But at least I know I don't know. It will be more.
How much is up to the insurance gods.
I wouldnt be expecting quotes to double but at least the first year is going to be 10-25% more than before.
My Mrs. Got hit last year, not her fault. I couldn't renew my RRS with Axa who I've used for 13years straight. Had to move to a multi car policy at £1k and Axa said dont come back for 3 years!
Previously it was £700ish for both on seperate policies.
Previously it was £700ish for both on seperate policies.
Edited by Decky_Q on Saturday 14th February 12:37
Complete lottery IMHO. Had an accident about 6-7 yrs ago, completely my fault and claimed on my ins, think the total payout was about £3-4K for damage to both cars. Same year my wife got an SP30 and took the points. Come renewal hers went up by about £40 and mine came down by about £50. Go figure, must use some sort on random number generator when they come up with renewal premiums. Don't see how anyone can say what way it will go, but going on my experience should not go up.
TwigtheWonderkid said:
sherman said:
Yes.
It will be more.
How much is up to the insurance gods.
I wouldnt be expecting quotes to double but at least the first year is going to be 10-25% more than before.
Absolute rubbish. It might be more, it might be 10-25% more. It might be 5% or 30% more, It might make no difference at all. You don't know, and neither do I. But at least I know I don't know. It will be more.
How much is up to the insurance gods.
I wouldnt be expecting quotes to double but at least the first year is going to be 10-25% more than before.
OoopsVoss said:
Genuine question, not an attempt to be clever. In the OP it's mentioned the crash was a company car. Would a claim on company insurance impact a personal insurance premium? Or not (as renewals do appear quite random!).
A claim on the company policy won't reduce the personal policy NCD, but the claims history may or may not have some kind of affect on the personal policy renewal price.Mr Tidy said:
Anyway when I told my insurer next renewal they added about £40 to the premium, but that may have been because they were upset I didn't report it to them at the time!
I got the impression LV did that when we told them a bus had swiped wife's car when parked, and the bus company had settled in cash. They added £50 to the renewal, which was around 15%, but it felt like a £50 fine.Sheepshanks said:
I got the impression LV did that when we told them a bus had swiped wife's car when parked, and the bus company had settled in cash. They added £50 to the renewal, which was around 15%, but it felt like a £50 fine.
I’ll find out in 2 months, I had a no fault claim with LV earlier this year.Mandat said:
A claim on the company policy won't reduce the personal policy NCD, but the claims history may or may not have some kind of affect on the personal policy renewal price.
Thanks, kinda what I was thinking. Given that Company and personal insurance are different risk classes - one impacting the other has to be a lottery. I don't have a company car, so wonder if you'd even have to declare (again genuine dumb question). Anyone who drives an Amazon delivery truck could be doomed if so. Mandat said:
OoopsVoss said:
Genuine question, not an attempt to be clever. In the OP it's mentioned the crash was a company car. Would a claim on company insurance impact a personal insurance premium? Or not (as renewals do appear quite random!).
A claim on the company policy won't reduce the personal policy NCD, but the claims history may or may not have some kind of affect on the personal policy renewal price.I always remember one of our technicians staying overnight in a hotel had his company van opened up like a can of sardines by tool thieves.
Van had nothing worth stealing but a lot of expensive damage so they could have a look.
Stupid bugger declared it when asked if he was involved in any accident or claim and guess what?
His own car's policy went up.
It was this memory that made me ask.
As I said I've 3 policies that can be impacted so it is a worry.
Tannedbaldhead said:
Stupid bugger declared it when asked if he was involved in any accident or claim and guess what?
When I had a company car no-one else believed that they should tell their own insurer of any incidents, although it was complicated by us dealing in-house with most own damage or theft from vehicle incidents.Edited by Sheepshanks on Saturday 14th February 20:00
sherman said:
TwigtheWonderkid said:
sherman said:
Yes.
It will be more.
How much is up to the insurance gods.
I wouldnt be expecting quotes to double but at least the first year is going to be 10-25% more than before.
Absolute rubbish. It might be more, it might be 10-25% more. It might be 5% or 30% more, It might make no difference at all. You don't know, and neither do I. But at least I know I don't know. It will be more.
How much is up to the insurance gods.
I wouldnt be expecting quotes to double but at least the first year is going to be 10-25% more than before.
Did you know that different insurers have different underwriting criteria. Not only that, each insurance company has different criteria for different customers. Acme Insurance might charge 25% for a non fault claim for a customer under 30, but 5% for over 30s, and nothing for over 40s. Or 20% if you live in a big city, but nothing if you don't.
What your insurer did to you in know way remotely qualifies you to tell the OP what will happen to him.
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