Consequences of buying car insurance with negative claim-free years
If you make a claim with your car insurance company, your claim-free years will be reduced. If you have not yet accumulated that many claim-free years, or if you make several claims in a short period of time, you may have negative claim-free years. This is also known as bonus malus. If you end up in the malus, you no longer get a discount on your premium, but instead a premium surcharge. Negative claim-free years can also have unpleasant consequences for getting car insurance. In this article at Alpina.nl , we explain it to you.
Taking out a car insurance policy with negative claim-free years
Getting car insurance with negative claim-free years is not always easy. This is because you can't go with every car insurance company. Insurers are reluctant to accept damage free drivers, because they are more likely to have to pay out a claim in the future. So they may refuse your application for car insurance if you have negative claim-free years. Fortunately, this is not the case with every insurer. There are always car insurance companies that will accept your application, but keep in mind that the premium will be (substantially) higher than normal.
Higher premium
Negative claim-free years make your car insurance a lot more expensive. Claim-free years determine to a large extent the amount of the insurance premium. The more claim-free years you have, the more premium discount you will receive. When you have negative claim-free years you will get a premium surcharge and pay more for your car insurance. Of course it makes a difference whether you receive a premium discount of 75% or a surcharge of 25%. In the bonus-malus ladder of your car insurer you can find out how much extra you will pay for negative claim-free years.
Buy off negative claim-free years
Negative claim-free years have annoying consequences for taking out a car insurance. That is why you should consider buying off your negative claim-free years. Buying off claim-free years is in fact nothing more than taking the damage for your own account. You can pay back the damage up to one year after the claim date. The maximum term for paying back the damage can differ per insurer. Whether it is wise to buy off negative claim-free years depends on the amount of the claim. If the damage costs are very high, it can be unfavourable to pay these out of your own pocket. It is also wise to check how much your premium will increase if you do not pay for the damage yourself.
Car insurance with negative claim-free years? Compare now!
It is not always possible to say beforehand which insurer will offer you a car insurance with negative claim-free years. It is best to compare providers to see where you can get the best deal. Fill in your car's registration number, your date of birth and postal code and your claim-free years. On the basis of these data, our online comparator will show you which insurers you can contact. If you cannot go to a regular insurer, we can always offer you car insurance with de Vereende. This insurer is specialised in difficult to insure risks, such as negative claim-free years.
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