The easiest way to save $$$ on your insurance renewal!!!

[Matthewjw]

I have just found out that the insurance industry have a very limited way to check/verify your past insurance claims history.

The only database in Australia that collects your individual claim data is called MyInsurancePassport.com.au

It is owned and run by the Australian insurance industry, and it is the only way that insurers share your claim data - holding past claim details for 10 years.

If your past claims are not on your file, (and assuming that you are insured with different insurers - ie not just different brands within the large Suncorp group) then the only way your insurer or new insurer can check your claims history is to individually phone other insurers and do a manual check. (And this does not happen)

Everyone can access their own details - I saved myself over $350 by declaring only what is on my claims history file.

I understand the duty of disclosure - however if the insurers have not registered a previous incident as either being a) my fault or b) a paid claim on my policy, then I will declare the number of claims which are on my insurance file.

I have a copy of my claim history as accessed via the website and I think it would stand up if there was ever any dispute (highly unlikely)

So I declare what is on my file - saving me several hundred dollars. There may be some risk, but I suggest that no insurer will go beyond what is on your claims history file - are they going to ring around all insurers to find out if you have a policy and weather you have had a claim? - (although they could based on your consents) - but insurers don't like helping out their competition and spending time manually looking up past records just isn't going to happen.

[Deborah]

First off, manual checks can and do happen. On a regular basis. As a worker in the call-centre for SGIO, I would often recieve conference calls from former customers and their new insurers, and I would be asked to read out the claims history to them, as a condition of the new insurer providing insurance. Not all of them did this, but the cheaper ones usually did (kinda defeats the purpose). With the customer on the line giving permission, and our calls being recorded, how could I not disclose what I was being asked to disclose? So give up this idea of "screw them, they're just the competition, I'm telling them fuck-all" right now. If anything, being able to disclose claims. potentially raises the price of competitors premiums for that customer, so why wouldn't we share...

Secondly, you are only talking about claim history. What will your answer be when your prospective insurer asks you about your incident history? (claim ≠ incident)

You are right about the relement of risk: in choosing to lie about a (non-claimed) incident, breach the contract AKA Duty of Disclosure between you ans the insurer:

If the duty is not complied with and we would not have entered into the contract on any terms had we been aware of the relevant matter, we may avoid the Policy within three years of entering into it. If the non-disclosure is fraudulent, we may avoid the Policy at any time. If we are entitled to avoid the Policy we may, within three years of entering into it, elect not to avoid it but to reduce the amount of cover in accordance with a formula that takes into account the premium that would have been payable if all relevant matters had been disclosed to us

If you do not tell us about anything that you know which is relevant we may:

•Refuse to pay a claim, or
•Reduce the amount of your claim, or
•Cancel your Policy, or
•Treat your Policy as if it never existed (if you intentionally kept information from us)

If you answer our
questions fraudulently, we may refuse to pay a claim and treat the
insurance as never having worked.

Three different insurers in WA. You get the idea.

This is written with and includes renewals because each renewal is a new contract.

[Deborah]

Just to clarify, you don't have to give your life story: For example, if they ask "have you been convicted of fraud, theft, arson, criminial or wilful damage, in the last 5 years", you don't have to tell them about earlier convictions, spent convictions, other crimes (trespass, public nuisance, crimes of fashion), etc. You're not helping anyone by over-volunteering.

You have a statutory right to cool off any new personal insurance contract within 21 days. Use that time to make sure you understand the specific wording of the questions they are asking and you'll be okay at claim time.

[Red_is_Best]

save $350 and commit insurance fraud, no thanks.

[Matthewjw]

As the Australian industries record of claim activity on individuals, I am happy to rely on it as my reference of past claims. I may be unable to remember whether a claim/incident was four years and nine months ago (possibly needs to be disclosed) - or 5 and a half years ago. (does not need to be disclosed.)

Also, I may or may not have been held At Fault for my past claims - and this report tells me if I have. As you say, its not in my best interest to over disclose because I will be penalized in the premium.

If my insurer checks, then I assume the first port of call is this database - and I have disclosed everything on it.

Cheers.....

[mekon]

Do you burn vehicles for cash? Just curious I may need your services... oh Hi welcome to PSB

[Matthewjw]

Hardly - I have been pro active in reviewing what past claim history has been recorded against my name - and used the industries own database to do so.

If it ever came down to it, the Financial Ombudsmen Service would have some difficulty suggesting that I have done anything other than sought assistance from the industry to ensure that I am making the right disclosures.

I am risk adverse and what to check - and the industries database has assisted me in doing this. It is difficult for many people to recall the events of 5 years ago.

That is a long way from torching cars.

[darkfibre]

You seem to be making the assumption that the new insurance company has no knowledge of ANY of your previous claims. Don't overlook the fact you may have been in an accident and your new insurance company MAY have been covering the other party. In such case you would be already on their files.

A long shot, but Murphy loves tripping up people who thought they covered all sides but didn't notice someone tied their shoelaces together while they were busy being smug.

[Matthewjw]

Yep, that is a long shot. If the quotation question is about insurance incidents (as highlighted by Deb) then maybe you would have to disclose those events where you were hit by someone else. (And if you want to tally up all possible insurance events that you have ever had and pay your premium based on this number then go right ahead - home claims, car claims, mobile phone claims , travel) NRMA actually ask you for any incidents whether a claim was lodged or not! (Which cannot ever be validated)

Do you include claims that you have lodged against other parties in your disclosed number? (Not on your policy with no claim ever made on your policy?)

As I said, I'm happy to use the industry resource and disclose accordingly.

[BenG]

Basically, what you are saying is the best way to save on your premiums is to commit fraud and lie about your history. Well, bugger me, I never would have thought of that...

Great, until you've been paying the premiums for a couple of years and then get a claim rejected for lying on your application. Fantastic idea...

[Matthewjw]

No, I'm saying that you should check what the industry knows about your claims history and disclose accordingly - using the industries own aggregation of claims to verify what you should be disclosing.

If you want to ramp up your disclosable events, regardless of who was at fault, what year they occurred in, or even if you are required to tell your insurer about them - then go ahead and pay the extra premium. I am suggesting that there is a resource available for you to check your history before shopping around - so that your premium is an accurate reflection of your claims.

In my opinion, the industry should not even be asking you for this declaration - they share the data - so why don't they rely on that?

The industry is just giving itself an option to deny claims by asking you - and if you happen to forget one or two that occurred four years ago?????

[MADOGA]

The best trick i found (doubt if it works these days) was to renew my insurance every 6 months and pick up 10% no claim bonus each time, i had a near full no claim bonus by the time i was 19,

[BenG]

Um, no... You are saying that you shouldn't disclose it if it isn't on the report, even if you know you should disclose it. Just because that is what is on file, doesn't mean that you shouldn't disclose anything else to them.

Failure to disclose will result in voiding your policy... Maybe you want to read your PDS?

[Deborah]

NRMA actually ask you for any incidents whether a claim was lodged or not! (Which cannot ever be validated)
.

How do you know an incident cannot be validated just because a claim wasn't lodged? My policy covers my bike for fire damage, if a fire rips through my street and my shed ends up as ashes, there is probably a record of that somewhere, whether I claim or not. It certainly goes to risk, so why wouldn't the underwriters of the insurance check against such records before they use polled funds from other customers' premiums to pay out a claim that is potentially many times the amount of premium they have collected from me?

Do you include claims that you have lodged against other parties in your disclosed number? (Not on your policy with no claim ever made on your policy?)

"Yes", if the question is "In the last 'x' years has there been any incident relating to theft or damage to a vehicle" and the claim you made against the third party on their insurance related to theft or damage of a vehicle in the last x years. "No" if the wording does not describe the incident. "No" if it does and you feel confident to play the odds.

[Matthewjw]

@ Deb,

So if I get your interpretation correct,

For an NRMA quote (just as the example)

a) someone keys your car - you get it repaired without lodging a claim (excess / deductible too high)
b) a minor traffic bumper hit - other motorist pays you full compensation (no insurance) everyones happy
c) you have a minor fender bender - limited damage - you are happy to live with it (or pay for repair under deductible)
d) a windscreen crack repaired by Windscreens Obrien (no claim)

you are declaring all four incidents to the insurer and hoping that their quote is favourable?