car insurance question???

Question

i have just had my car stolen and was wandering if it was worth claiming on. It is insured for £2500 and they are willing to right it off and pay up but I have a new car that I need to get insurance for. My cheapest qoute is £450. Anyone have a rough idea how much my insurance would go up if I claimed for my old car?? Basically... should i just accept my losses on the old car or claim. cheers

Answer 1

I doubt it would go up by 2 and a half grand - even over the four years before you build up your no-claims bonus again.

I'd claim it...

Answer 2

First of all: can you put your replacement car onto your current policy? If so do so - you won't have to pay much more until renewal date.

Now for the costs of the claim. Assuming that you will get £2500 (less the theft excess) and your driving record is otherwise unblemished then I would have no hesitation in making a claim.

You have to look at the differential in pricing before and after a claim (and assuming no other claims!). Below are typical costs assuming a gross premium of £1000 before your bonus, you are on maximum bonus and will lose two years due to the claim.

Year : Claim: No Claim: Cost
2007: £400 : £400:....... £0.00
2008: £600: £400:........ £200.00
2009: £500: £400: ....... £100.00
2010: £400: £400: ....... NIL

Total extra cost : £300 (+ inflation increases)

The worst scenraio would be if you were on two years bonus before the claim.

2007: £600 : £600: NIL
2008: NIL.....: £500: £500
2009: £700: £400: £300
2010: £600: £400: £200
2011: £500: £400: £100
2012: £400: £400: NIL

Total cost : £1100 (+ indexation)

Other examples can be worked out but if your quote on a stepped back bonus is only £450 you should be quids in.

Answer 3

Unfortunately I have a feeling that even though you do not claim for the car, the theft is still registered on the national insurance data base, bearing in mind how much you have paid in the past, and the amount that you will be paid, go for the payout. Do not lie on the new insurance if you do not claim, as the question asks have you had a loss OR claim! They check the register in the event of a future claim, if you make an "error" on the application, you lose the claim.

£450 for cover, try Prudential, they are giving out free breakdown cover (Including full Europe cover!). I got mine and partners for £210 & £300 (and she had one claim!)

Good Luck

P.S

Do not accept book value, get three costings for the same model from dealers and present to your insurance company, you may have to wait a bit longer, but they will negotiate. Also, if your insurance has legal cover.......... use it, they can give you help with the claim.

Answer 4

I would recommend you to try this site where onel can get quotes from different companies: http://insurancetocompare.info/index.html?src=2YAMstSwb7ukX

RE :Car insurance question???
i have just had my car stolen and was wandering if it was worth claiming on. It is insured for £2500 and they are willing to right it off and pay up but I have a new car that I need to get insurance for. My cheapest qoute is £450. Anyone have a rough idea how much my insurance would go up if I claimed for my old car?? Basically... should i just accept my losses on the old car or claim. cheers
Follow 15 answers

Answer 5

I had my car stolen and my insurance didnt go up the much so if i were you i would claim. Have you tried confused.com for your quote? they are good and get quotes from a lot of insurers. Good luck with new car. its such a pain when your car is stolen isnt it?

Answer 6

You may have it insured for £2,500 but you wont get that. All you'll get is the trade value which is considerably lower. Claim, you have nothing to lose. Any money you get will offset the slight rise in insurance.

Answer 7

Hi there.
Claim, the insurance will not go up that much.
Get protected no-claims on your next policy, will remove the worry should you be unlucky again.
Good luck, Steve.

Answer 8

It depends what its worth. I t may be insured for £2500 but they will give you market value.

You might want to check that out first, if its less than £400 don't bother.

Answer 9

Hello, claim. Your premium may go up by a little. It depends what its worth. I found interesting information about your answer here. http://all-car-insurance.blogspot.com/ Good luck!

Answer 10

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