When someone is involved in a car accident and seeks financial compensation from their insurance company, this is called a claim. Automobile damage, personal injury, or both, are the usual claims. Insurance claims can be for anything from a minor inconvenience, like a broken wing mirror, to a catastrophic event, like a totalled car or a fatality.
What effect does filing a claim have on my auto insurance rates?
In most cases, filing a claim will have an upward effect on your auto insurance rates. In addition, you may lose all or part of your no-claims discount. However, if your NCD has been protected, filing a claim shouldn’t reduce the number of years credited to it. If you haven’t filed more than two claims in the past three years, for instance, you may be able to keep your NCD. Read the policy paper to see what the service provider says. New auto insurance policies typically require applicants to disclose claim histories.
Where can I find details about my past auto insurance claims?
It is possible to review your past insurance claims in several different ways. Your current auto insurer may be the best place to start looking into past claims. Injuries & their associated costs, as well as the dates and types of claims, for which compensation was paid out, could be recorded here. In addition, you can reach out to the Claims and Underwriting Exchange. Every incident, even those that don’t result in a claim, is recorded here in an effort to combat insurance fraud. CUE receives data from numerous insurance companies, including those that specialise in auto, home, and travel coverage, and stores that data for a minimum of six years.
CUE is used by insurance companies to determine your premium based on your claims history, so it’s important to be forthright and honest about any claims you’ve filed in the past. However, if your insurance company checks with CUE, they may discover that you aren’t or that you omitted relevant information. Therefore, it is not worth risking trouble by omitting details in search of a lower price. You have the right to access any personal data held by CUE in accordance with the GDPR (General Data Protection Regulation), which governs the collection, use, and disclosure of data in the UK.
It’s easy to submit a Subject Access Request form to the Motor Insurers’ Bureau (MIB). Please contact the insurance company from which you believe the incorrect information was sent, or the MIB, if you have any reason to believe the information held about you is inaccurate. Also, if you’ve been in an accident, you should notify your insurance company even if you don’t plan on filing a claim. They may cancel your policy if you don’t tell them.