Is my accident affecting my insurance?

[shutupputup]

3 years ago in the June a car pulled out a junction and hit me, thankfully there was footage that easily proved they were at fault. Their insurance eventually paid out.

My insurance has gone from £300 to £1700 in that time.

We reported an incident to the insurance company. There was no claim, but the insurance increased from £300 to £1002. You’re supposed to report an incident, but then you get penalised for it.

A non-fault claim increases premiums for sure, that does sound like quite a big jump though. I take it you’re shopping around?

Insurance premiums have shot up over the last 3 years or so - even for older, more experienced drivers.

But also, yes, the insurance companies do put your premiums up even when you haven't claimed off them, if you notify them. They have us all over a barrel. You either don't tell them and spend your life worrying about being fraudulent) or you tell them and get penalised even when it isn't your fault.

Yes but it’s not better anywhere else, in some cases it jumped to £2k

I had a no fault claim in October 2022 where someone hit my car in a car park and drove off. The whole bumper was hanging off. Although it was all repaired under my fully comp insurance its on my policy as a no claim claim - at renewal in May 24 my premium went up from £950 to £1800. Finally got a policy with the parent company of the one I was with for £670 but its much more restrictive - can't make temporary changes etc but I can live with that! It just makes me mad that I pay fully comp for years with no claim, then they whack my premium up over a no fault claim and a windscreen chip replacement

I work in insurance and do analysis for the actuarial business who calculate the prices.

You reporting an incident with no claim is not a ‘pricing factor’ and is not included in the calculation of price.

You increase will have been due to insurance price increases across the board, perhaps you fell into a different ‘category’ of age now, or age of vehicle or that vehicle is now higher risk statistically; there can be loads of factors.

I get a staff discount and mine is still eye-watering x

@FionaSkates I was told specifically that the reason the price had trebled was because we had reported an incident, although there was no claim.

I appreciate there are price increases across the board but not threefold.