3 points - insurance implication help!!

[Anonymous]

ok, so lets say hypothetically someone gets 3 points on their licence and fogets to notify their insurance company. It's now 2 years down the line and said person would rather the insurance company know about the 3 points.

How would be the best way of going about this?

How would the insurance company react to this, would previous years no claims be affected, insurance inavalidated etc?

If anyone with any experience of insurance companies or the like could advise it would be very much appreciated.

 

[Roberto]

Bearing in mind that all insurance companies have access to a whole host of databases, including DVLA & PNC, it would be a good bet they can find out at anytime. Honesty is always the best policy. A DQ1 can be requested by most agencies at anytime, and the resulting DQ3 takes about 20 minutes to come back with all your information on it.

Not that I'm advising you as such, but if you feel compelled to confess, I'd rather be doing that to a new insurance company.

Rob
Mk.2 Marea Weekend 1.8 16v 115 ELX

 

[Anonymous]

Don't quite hear what you're saying there. So they can find out at any point but obviously haven't done so. Will a new insurer check everything with the old insurance or will it just be a NCB certificate they want. So you think they'd scrap the insurance if said person told them about the 3 points they fogot to mention? Cheers for your input Rob!

 

[Roberto]

Failing to declare vital information, such as points, is enough for your insurance company not to pay out on the basis of non disclosure. If they want to find stuff out, they can. Every search done on the DVLA database (DQ1) costs them money, so they don't always do it. However, if they are facing making a payout, they'll do whatever they can to avoid payment, if they feel that way inclined. Better to spend £11 on a DQ1 than £2000 on a claim.

Insurers share information with other insurers as well as the DVLA & Police.

All I am saying is that you were legally obliged to provide the insurance company with all necessary details that they asked for and you didn't.

You're not the first and certainly won't be the last.

If it's any consolation, an SP30 on your licence is unlikely to make a major difference to your premium, especially the older you are.

Rob
Mk.2 Marea Weekend 1.8 16v 115 ELX

 

[Anonymous]

Well thats exactly why I want to tell them. I'd rather have them know about the sp30 and everything be cool than them not know until they have a claim to get out of!

So will it all be cool if I say sorry, forgot to mention the sp30, could you backdate it and put it on or will they say "Oh, well you can forget your 4 years NCB then, and techincally you've been driving without insurance for the last 2 years!

 

[Roberto]

Hmmm...

I couldn't answer that one for you. You run the risk of having your insurance cancelled and then having a history of insurance fraud.

The implications could be very serious.

It's a toughie, I'm afraid, and only you can make that decision.

Like I said before, one option might be to wait until renewal, get some quotes based on your full disclosure and start afresh with a new insurer. But I cannot advise you as to what is the best route.

Rob
Mk.2 Marea Weekend 1.8 16v 115 ELX

 

[Anonymous]

Well cheers for the advice Rob, anyone else out there got any experience of working for an insurance company or of this sort of situation?

 

[Dave]

been working in insurance for over a year now. and id reccomend that you notify your insurance company asap when you get the points.

insurance companys run on the basis if you be truthfull with us we will do our best to help you... as in "upmost good faith"

if you fail to notify your insurance company of your points and you have a claim they look very deep into things and will find out more than you know. because its a fact insurance companys hate paying out so they will make sure everything is above board, and any slight defect they will invalidate your policy and wont return a refund and you may end up in debt to the company if you are paying by monthly installments... well not the insurance company but the finance company who lend you the money for the insurance.

so allways tell the truth and you will be fine


Dave

 

[scotty]

I would simply advise you to start fresh with another company and disclose everything,or you will find your self in bother and out of pocket when a you need them,and you can bet if your running DODGY something will happen it's SODS law.

Scotty.

 

[Buzz]

i'd change company, and declare it most likely...

fortunately though its a hypothetical question...

Buzz
The champion of the Bravo 1.4 & now ex owner of a Bravo 1.8

 

[Ian]

Yep - Just change insurer and let them know about the points.

 

[TheLooseCannon]

Heh, little late in responding, but never mind!

As Dave pointed out, it is best to notify your insurance company. You will obviously be quizzed on the reason for the information delay, and could obviously result in an additional premium. The likelihood of cancellation of policy would be zero to extremely low - assuming there are no claims being processed at the moment. Honesty is the best way to go. That is basically what your insurance premium is based on afterall

It is something that could go both ways, as one view can be in your favour of it being only an SP30 as Rob pointed out (slap on the wrist approach), or alternatively and only, you have obviously been lying to the company for 2 years , so some sort of "penalty" would be implemeted.

So yes, definitely notify them, and never withold such information - though you might have an extremely good reason. If the latter is the case, then be prepared for the company not to pay out if time came for them to do so.

"I've had a wonderful time - but this wasn't it."