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Increased Insurance Premiums |
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Insurance Information
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Will my Car Insurance Premium Increase
if I Claim?
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Generally speaking, one’s car insurance
premium is calculated to match your risk
profile. With every accident for which you
submit an insurance claim, your risk profile
becomes higher. Inevitably, this increased
risk will be reflected by your monthly car
insurance premiums.
For obvious reasons, you may not want to
notify your car insurance company of an
accident – especially if it is a relatively
minor one – yet this is not advisable.
Should your insurance company find out that
you were dishonest regarding your car
insurance, you may jeopardize any future
claims. This will be especially relevant if
you were to be sued only months after the
accident.
Other South African car insurance
companies in turn will also be very
hesitant to provide car insurance cover to
someone who had been kicked off another car
insurance scheme due to fraudulent
claims-related activities.
Some South Africa car insurance companies
offer a fixed premium structure, whereby you
will continue to pay the same premium for
the remainder of a given year – so your
annual budgeting won’t be ruined.
Should you have submitted a chargeable
insurance claim (one deemed by the
insurance company to be your fault), you can
safely assume that your monthly premiums
will increase as a result of it.
Although most car insurance companies have
different rules as to what constitutes
unacceptable driver behavior, a having more
than the occasional car accident will
probably result in a non-renewal of
your car insurance policy – meaning that
you’ll get kicked off the car insurance
scheme.
Accidents cause while under the influence of
illegal drugs or alcohol will in all
likelihood also result in a non-renewal –
or, even worse, a refusal to cover your
damages and liability. This can be
financially crippling, and could end you up
in jail. As such, both these should be
treated as total taboos.
Contacting Dial
Direct Insurance,
Auto and
General,
First for
Women or
Budget
Insurance Brokers for an online equote
will earn you a free telephonic consultation
by the relevant car insurance consultant.
Feel free to ask them about insurance claims
procedures, as well as the rules that apply
to this!
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