New insurance after an accident

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Tue 20 Jul 2010 20:50
New insurance after an accident - ayshanne

Hello

My current insurance company informed me that they cannot renew my insurance 'due to a change in underwriting terms'. I passed the test in March 2009 and bought my first car in August 2009. I caused a small accident (hit a parked car/no people involved/my fault) a week later. Four months later I received a letter informing me of a claim against me and nothing else. However, when I try to get a new insurance quote I am asked for the cost of claim. How can I know? How can I get a new insurance? Please, help me.

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Wed 21 Jul 2010 12:34
New insurance after an accident - LucyBC
You might need a special quote. Can you tell us the extent of the damage to the other vehicle? From that we can probably estimate the costs of the repair so you can provide and approximate figure.

Standard price comparison sites wont be much good in your case as they very heavily penalise special circumstances but if you come back to me with the above information I can probably get someone to get you to quote and insure you.
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Wed 21 Jul 2010 18:27
New insurance after an accident - ayshanne
Thank you for your reply. It was dented front bumper (left corner) and flat tire.
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Thu 22 Jul 2010 09:11
New insurance after an accident - LucyBC

You are almost certainly better to self-insure (ie pay for the damage yourself) at this level. To get it repaired would be below £500 and the increased premiums, policy excess and loss of no claims will soon eat that up.

Once you have settled go to your new insurer and the amount of the claim will be irrelevant - or declare an estimate at £350 or so but expect your future premiums to be higher.

If you try a standard comparison site they will probably full rate which is likely to be very expensive indeed.

I have a quotation system on my http://www.autosure.eu website which does a basic quote comparison but then a broker will tweak it for your individual circumstances. It is useful if you have special circumstances such as a previous accident which the price comparison websites don't deal with too well.

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Mon 26 Jul 2010 22:37
New insurance after an accident - ayshanne
Thank you. I will follow your advice.
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Wed 21 Jul 2010 20:52
New insurance after an accident - Brit_in_Germany

You say the insurance co. wrote to you four months later. Does this mean that you did not report the accident yourself? Could it be that the insurance co. is telling you that on the basis of your record that they simply do not wish to insure you?

Biggles

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Mon 26 Jul 2010 22:40
New insurance after an accident - ayshanne

No, I informed them and sent the accident report form (to my broker), but only received a letter from the insurer four months later and nothing about the claim amount.

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