Third Party Claims : Potential Problems

Many insurers offer consumers a no-claims bonus if they make no claims against their policy for a specified period of time. Unsurprisingly, the prospect of this financial reward is attractive to consumers, so much so that many choose not to claim from their insurance to avoid losing the cash-back reward or discount on their insurance premiums in years to follow. This is particularly true in the case of third-party claims, where consumers feel someone else is responsible for an accident. However, holding out on placing a claim with your insurer is often financially…Read more …