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Be Careful When Trying to Protect Your No-Claims Bonus
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by: Sarah Maple
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Word Count: 452
Recently I have been thinking of paying extra to my car insurance company in order to protect my four-year no claims bonus. I know that it would cost me a little more each month but after what I have heard this week, I don't ever want to be tempted into avoiding an insurance payout if I am ever involved in a car accident.
It is often tempting to settle the matter privately if you are involved in a minor collision with another vehicle. This however, can be a risky path to take just to keep your no claims bonus. Many people are very willing to accept private settlements because they know that they may be likely to persuade you out of more money than your insurance would give them. Sometimes the victim can be tempted to blame you for problems they already had with their car, thus costing you far more than you first anticipated.
Recently a friend of mine was involved in a small collision with a parked vehicle. The lady owner of the parked Volvo offered to accept a private settlement and my friend accepted. After obtaining three separate quotes from independent garages the owner of the Volvo asked for £300. Becoming suspicious, my friend finally involved her insurance company. The insurance company eventually settled at £93, far lower than if my friend had agreed and paid in a private settlement.
Also there are people who buy cheap cars at auctions or scrap heaps and leave them purposely parked in awkward places. Sometimes they even orchestrate situations that will ensure a collision, offering to accept a private settlement of an amount that exceeds what they originally paid for the car.
Surely it would be preferable to pay a little more for your car insurance every month than be aware that you were ripped off by a stranger. Car insurance companies are so competitive these days that it would be foolish to think you may end up paying more than you can afford. If the insurance company wants to raise your premiums higher for being involved in a minor accident and you feel that it is more than you can afford then why not swap insurance companies?
There are plenty of car insurance providers out there. These days you need only to look on the Internet to find and compare offers from every car insurance company provider. There is no need to be confused or flustered by the choice, instead see the amount of choice as a great opportunity not to get stuck paying inflated premiums. You are paying for a service and should find the best service for you at the best price.
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