Perhaps the title should be “When is it worth claiming on insurance?”, but it caught your attention as it is.
Car insurance in the UK is, of course, pretty much compulsory (I believe that very rich people are allowed to self-insure ... but not an option for almost everyone who drives). House insurance is not compulsory but advisable I remember one episode of Grand Designs where a house wasn’t insured for one day - renewal problem/administration I think - and that day was when disaster struck. I have no idea how the owners recovered - but they did - but “recovering” or at least regenerating hundreds of thousand of pounds to cope with the loss ...no, too horrible to contemplate.
Most policies have excesses built in, so it’s not worth claiming for small items or damage. An additional factor is the way insurance companies treat claims. Making a claim affects future premiums. Indeed, I have noticed some companies now trying to be what I consider a bit sneaky - “Did you have any loss or damage for which you did not claim?”. This is an arguably relevant question but one “knows” that the ompanies will probably try to use such disclosure against oneself. One car repairer I met told me never to phone up and even ask about small bumps or damage, as it would be noted, and used to justify premium increases.
Houses are different and may have lots of problems, but when is it worth making a claim? We have made claims in the past, but we don’t bother for small incidents. What do others think? What kind of issue would you put in a claim for?
Note also, that some common problems are generally not covered, and a real pain. Fences blown down in high winds, for example.
Car insurance in the UK is, of course, pretty much compulsory (I believe that very rich people are allowed to self-insure ... but not an option for almost everyone who drives). House insurance is not compulsory but advisable I remember one episode of Grand Designs where a house wasn’t insured for one day - renewal problem/administration I think - and that day was when disaster struck. I have no idea how the owners recovered - but they did - but “recovering” or at least regenerating hundreds of thousand of pounds to cope with the loss ...no, too horrible to contemplate.
Most policies have excesses built in, so it’s not worth claiming for small items or damage. An additional factor is the way insurance companies treat claims. Making a claim affects future premiums. Indeed, I have noticed some companies now trying to be what I consider a bit sneaky - “Did you have any loss or damage for which you did not claim?”. This is an arguably relevant question but one “knows” that the ompanies will probably try to use such disclosure against oneself. One car repairer I met told me never to phone up and even ask about small bumps or damage, as it would be noted, and used to justify premium increases.
Houses are different and may have lots of problems, but when is it worth making a claim? We have made claims in the past, but we don’t bother for small incidents. What do others think? What kind of issue would you put in a claim for?
Note also, that some common problems are generally not covered, and a real pain. Fences blown down in high winds, for example.
I was driving my car up towards a crossroads (I was on the main road) and signalled I was turning right. A car was stationary at the halt sign waiting for me to turn in. However, looking in the opposite direction, he misjudged how far I had travelled and shot out over the junction towards the road opposite, bashing the rear of my car. As I was then about 22 and driving a sports car (I presume that was his reason) he insisted that he had been stationary, behind the white line, and I had hit him as I turned right too tightly. His wife did not disagree. We exchanged details and he probably suggested a knock-for-knock agreement. About which I was unhappy.
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