Warning about accidents and insurance

[Jim Goose]

Originally Posted by EFN40L

I just recently had an accident and sent a claim into my insurer Real Insurance. They asked me what happened and i truthfully answered everything. Mum forgot to mention that i had a suspended licence once already and they have now knocked my claim back saying Due to not telling them about my licence they wont pay my claim. So im slapped with both mine and the other cars repairs and had to go to the bank to get a loan to repair them

Why the hell do they have insurance if they wont repair your car if you accidentally forgot to say "Oh Ethan had a suspended licence"

Umm... so you had a licence or not at the time of the accident?

If your continually being suspended then a lot of companies will see you as a liability and no longer insure you. Its in the fine print...

[chamb0]

deleted

[Spammy]

Originally Posted by EFN40L

I just recently had an accident and sent a claim into my insurer Real Insurance. They asked me what happened and i truthfully answered everything. Mum forgot to mention that i had a suspended licence once already and they have now knocked my claim back saying Due to not telling them about my licence they wont pay my claim. So im slapped with both mine and the other cars repairs and had to go to the bank to get a loan to repair them

Why the hell do they have insurance if they wont repair your car if you accidentally forgot to say "Oh Ethan had a suspended licence"

An insurance policy is a "contract of the upmost faith" which means everything you tell them is when applying is considered to be true. If at anytime in the future they work out that what you told them was not true, the insurance company has the right to deny any claims.

Insurance companies are a business not a charity - they don't pay out when they don't have to. In your case you did not have a vaild policy so they don't have to pay out.

[Shonky.]

Originally Posted by EFN40L

I just recently had an accident and sent a claim into my insurer Real Insurance. They asked me what happened and i truthfully answered everything. Mum forgot to mention that i had a suspended licence once already and they have now knocked my claim back saying Due to not telling them about my licence they wont pay my claim. So im slapped with both mine and the other cars repairs and had to go to the bank to get a loan to repair them

Why the hell do they have insurance if they wont repair your car if you accidentally forgot to say "Oh Ethan had a suspended licence"

When taking out insurance you need to disclose anything that results in the risk to the insurer being greater.

A driver of the insured vehicle having been suspended would result in a statistically significant increase in the probability of a claim being made.

By not disclosing this the premium paid would have been too low to adequately cover the risk associated with the policy.

There are lower margins in insurance than most people think. In an age of online comparison sites and online quoting, policies are simultaneously more competitive and more based on the actual risk. The days of 50 year olds with perfect records paying $2500 pa to insure a WRX are gone. It means higher risks are no longer as subsidied by lower risks, but if people don't disclose everything it all comes tumbling down.