Unfortunately, insurers have long memories! Accident claims, even if you weren't at fault, can typically stay on your record for around 3 to 5 years. This means they can impact the quotes you get during that time.
What do insurers see?
When you get an insurance quote, they'll ask about previous claims. They're interested in:
- Who was at fault: If the accident was your fault, it'll have more impact on your premiums than if someone else was to blame.
- The size of the payout: Large payouts for accidents suggest a higher risk to insurers.
- How long ago it was: The more recent the claim, the bigger the impact it'll likely have on your quotes.
How to minimize the impact
- Shop around: Don't just stick with your old insurer – get quotes from lots of companies.
- Build your no-claims bonus: Every claim-free year helps lower future premiums.
- Consider extra cover: Options like a protected no-claims bonus can sometimes soften the blow of a past claim.
Important Note: Always be honest about past claims when getting quotes. Not disclosing them could invalidate your insurance.