Keeping Quiet When You've Had a Small Prang! - July 2011

This regularly updated section of the HomeApproved web site will cover the latest trends, research, opinion and developments in the UK car insurance sector. 

Silence is Golden After a Small Prang!
A quick, short post for July, but one which makes a lot of sense and could possibly save you a lot of money when your car insurance policy comes up for renewal.

Even after the smallest of prangs in your motor you might feel obliged to report the incident to your insurer. Lets say you damage your wheel on a pothole on British roads (not uncommon considering the state of British roads!). Their is a possibility that you could make an enquiry or claim against the local Council - through your insurer.

You could also state that you did not want the enquiry added to your record with the car insurance company. We would suggest however, that in most instances your enquiry about compensation 'will be noted by your motor insurer'. This ultimately means that the incident will be logged on your records and will not be removed.

What are the consequences of this. Well, yes you've guessed it your renewal premium is likely to rise!

We suggest you never tell your insurance broker or insurer about minor damage that can be fixed for less then £500, because merely informing them will cost you considerably more in increased premiums and it will permanently go on your record. Also, you will not be able to change insurers without it counting against you. You have been warned!

ENDS

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