UPGRADE: 2010 MKII XR5T

[Zachariah]

hhm okay, does it depend on the insurance company?

 

[Skylarking]

Your insurance policy and the policy booklet will specify all the conditions of the insurance you purchased. Always read it to understand what you need to do and what they are required to do.

Really an insurance company must follow their own contracted terms so to know them is to have strength. How they handle non policy issues like how premiums are calculated when conditions change is up to them to define as it’s a business issue. For example, if you buy a new car and trade the old one in, you are normally covered from day dot on your old policy but you must notify them in a specified timeframe (normally specified in the policy booklet). Then when you notify them of the type of vehicle you bought they adjust the premium according to the type of new car and the risk it provides (can go up or down).

How any insurance company handle premium increases due to prior claims is specific to each company but my experience is they normally don’t hammer you much for small claims like you’ve suffered and they don’t backdate premium increases if an accident occurs in yje last week of the policy as they’ve already printed the reminder and premium.

In fact one time I got a reminder some weeks after a light rear ending. Rang the insurance and negotiated a lower premium and payed it and the following day made a claim on the previous years policy for that rear ending. No premium adjustment was made for the now following years premium And it’s all above board

 

[Zachariah]

Your insurance policy and the policy booklet will specify all the conditions of the insurance you purchased. Always read it to understand what you need to do and what they are required to do.

Really an insurance company must follow their own contracted terms so to know them is to have strength. How they handle non policy issues like how premiums are calculated when conditions change is up to them to define as it’s a business issue. For example, if you buy a new car and trade the old one in, you are normally covered from day dot on your old policy but you must notify them in a specified timeframe (normally specified in the policy booklet). Then when you notify them of the type of vehicle you bought they adjust the premium according to the type of new car and the risk it provides (can go up or down).

How any insurance company handle premium increases due to prior claims is specific to each company but my experience is they normally don’t hammer you much for small claims like you’ve suffered and they don’t backdate premium increases if an accident occurs in yje last week of the policy as they’ve already printed the reminder and premium.

In fact one time I got a reminder some weeks after a light rear ending. Rang the insurance and negotiated a lower premium and payed it and the following day made a claim on the previous years policy for that rear ending. No premium adjustment was made for the now following years premium And it’s all above board

hhhm, i see what you did there... yeah it would be an advantage to learn the policy. might have to go for a read. thanks for the information

 

[Zachariah]

okay, just got word from the mechanic. it was not damaged heavily at all. just a few things came loose and needed fixing and the oil needs changing. $200 all up, but my car was due for a service, so he will be doing that as well. quite relieved honestly. my baby should be with me tomorrow

 

[Lex]

okay, just got word from the mechanic. it was not damaged heavily at all. just a few things came loose and needed fixing and the oil needs changing. $200 all up, but my car was due for a service, so he will be doing that as well. quite relieved honestly. my baby should be with me tomorrow

No insurance necessary.

 

[Zachariah]

No insurance necessary.

yep, currently on the phone to cancel the open claim