Insurance premium rise after theft

[stampy]

Has anyone made a claim on their insurance after a theft? If so was your premium massively increased when you renewed?

 

Got to the yard this morning and some scumbag has broken open my container and stolen a bunch of tools, hedge cutters, blower, saws etc. Probably about 4-5 grand to replace it all if bought new. I can get by with what I've got left (split my saws up into two locations for just this reason!) and build it all back up slowly or make a claim and hopefully get a decent amount towards it. But then if the premium goes up by thousands at renewal time it hardly seems worth it....

 

 

[monkeybusiness]

1 minute ago, stampy said:

Has anyone made a claim on their insurance after a theft? If so was your premium massively increased when you renewed?

 

Got to the yard this morning and some scumbag has broken open my container and stolen a bunch of tools, hedge cutters, blower, saws etc. Probably about 4-5 grand to replace it all if bought new. I can get by with what I've got left (split my saws up into two locations for just this reason!) and build it all back up slowly or make a claim and hopefully get a decent amount towards it. But then if the premium goes up by thousands at renewal time it hardly seems worth it....

 

 

Arborisk doubled my insurance after paying out for a stolen chipper. I had no choice but to move to Trust at the time. 

[stampy]

7 minutes ago, monkeybusiness said:

Arborisk doubled my insurance after paying out for a stolen chipper. I had no choice but to move to Trust at the time. 

Yeah that's what I was worried about....Arborisk were understandably vague about how much my premium might increase by when I asked them

[Botty Cough]

Make the claim and move on

[GarethM]

I've always been of the mindset, claim for the big stuff and not the smaller stuff.

 

The insurance company will want their pound of flesh somehow, even if you've 30 years worth of premiums they'll get it somehow.

[stampy]

6 minutes ago, GarethM said:

I've always been of the mindset, claim for the big stuff and not the smaller stuff.

 

The insurance company will want their pound of flesh somehow, even if you've 30 years worth of premiums they'll get it somehow.

yeah that's basically what I tend to think too. Everyone is quick to say how insurance companies will wiggle out of things or bend you over if they can, but I'm interested in actual examples of people who have claimed and then had their premiums absolutely rocket.

[Dan Maynard]

Mine went up a bit on first claim, can't remember exactly but maybe a third. Second claim within 3 years of the first made the premium jump to about double the start.

 

Got to the point insuring my saws and climbing kit was going to cost about the same as one new saw per year so I thought I'd spend it on saws and kit instead and take the risk. Have to pay first £500 of any claim anyway.

[Mark Bolam]

I would be very careful about claiming, unless everything is brand new.

My mate got done for about £40k’s worth and received £8k on the payout because a lot of it was over a year old.

 

I only insure my big kit now for this reason.

 

Mine went up when my chipper got nicked, but not as much as I feared.

 

I did get shorted £5k on the value on my so called ‘new for old’ policy.

 

You need a lot more than a container for future security.

The dids can open them in seconds.

[stampy]

1 hour ago, Mark Bolam said:

I would be very careful about claiming, unless everything is brand new.

My mate got done for about £40k’s worth and received £8k on the payout because a lot of it was over a year old.

 

I only insure my big kit now for this reason.

 

Mine went up when my chipper got nicked, but not as much as I feared.

 

I did get shorted £5k on the value on my so called ‘new for old’ policy.

 

You need a lot more than a container for future security.

The dids can open them in seconds.

I know, never used to leave any hand tools in there but just got lazy over the last year or so 🤦

 

The only consolation is my husky blower needs exactly the right combination of swearing and crying to start, and they'll never be able to figure it out. 

[Mark Bolam]

Result!