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Can my insurer increase the premium on all three of my policies for an accident I recently had?
I was recently involved in an accident, with minor damage to both vehicles. As the car I bumped was in front of me, going round a big roundabout (French driver was lost and suddenly stopped in the traffic), I anticipate that I will be blamed. I reported to my insurer (LV) as I'm told to do, but told them that I would not be claiming. I have three cars insured with LV (all with maximum NCD) and two policies are currently up for renewal. The first renewal invitation was superceded by a demand for 40 per cent more and I'm waiting on the other one. I had one other claim nearly five years ago. If I had one policy, LV could increase the price, but I have three policies. Can they hit me three times for the same incident by upping all three policies? LV policy says NCDs can stay unchanged but the premium can be increased. So what point is there in paying extra for protected NCD on each policy when they can wipe it out with a huge price increase?
Asked on 29 September 2017 by Roger Williams
Answered by
Honest John
Welcome to the big insurer con. If you have more than one vehicle, and more than one policy, yes indeed all three will be affected. This is because you are seen as the additional risk based on the idea that you are more likely to claim and have an accident in each of the other cars. There is not a thing you can do about it other than shop around, and make sure you have a limited mileage agreed for each vehicle. Also add more than one person to each policy to share the additional risk as well, even if they have no intention of driving your vehicle. You could always find a good broker and ask them for a "block policy" and insure all three vehicles together.
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