[Finance] To make an insurance claim or not?

[fisons]

I had an entirely my fault minor car accident last week.

The bill for damage to the other car is £950. My car will need panel work of some sort which may or may not end up costing another £1000.

I am looking to NSC for advise as to whether I should make an insurance claim and lose my no claims bonus or pay out the money, which I can afford but am not delighted by?

Thanks for any help.

 

[Creaky]

I had an entirely my fault minor car accident last week.

The bill for damage to the other car is £950. My car will need panel work of some sort which may or may not end up costing another £1000.

I am looking to NSC for advise as to whether I should make an insurance claim and lose my no claims bonus or pay out the money, which I can afford but am not delighted by?

Thanks for any help.

Personally I'd claim via your insurance. You will have to report the accident to your insurers in any case if you want to make sure you remain covered.

I don't know what NCD you currently have but you may not lose the whole number of years benefit you currently enjoy.

The loss of £2k in discounts would, in my case, take a good few years during which you are rebuilding your NCD.

 

[Springal]

Depends on your age, record so far etc so hard to say. £2k not to claim through insurance seems high - depends what you could use that 2k for vs the excess and possible insurance increase over a few years.

Also you’d need to be 100% sure who you settle with won’t put in any additional claims in the future

 

[Joey Jo Jo Jr. Shabadoo]

Have you not protected your NCD? I had an accident recently and my car was written off but no change to my NCD as it was my first claim.

 

[Brian Potter]

If the other party is claiming via insurance (yours or theirs) then you may as well get your own done as well as there will be claim against your policy. If you are looking to settle privately, get it in writing that what you are paying is the full and final amount so they can't come back to you down the line.

 

[OzMike]

My NCD is protected for life with my insurers.

 

[Super Steve Earle]

I had an entirely my fault minor car accident last week.

The bill for damage to the other car is £950. My car will need panel work of some sort which may or may not end up costing another £1000.

I am looking to NSC for advise as to whether I should make an insurance claim and lose my no claims bonus or pay out the money, which I can afford but am not delighted by?

Thanks for any help.

If I were the other driver, I would take it out of your hands and having exchanged insurance details at the accident, I would be claiming on your insurance. I wouldn't be giving you the choice. My repairs might cost more than original estimate and you might not pay. I might put in a whiplash claim after a few days. The claim would affect your NCD anyway, so claim for yours too. Your repairs may also be more expensive than anticipated. Personally, having suffered a couple of minor no fault accidents in recent years, I would put it all through my insurers.

 

[Marshy]

defo insurance job in my opinion.

this is what car insurance is for !

 

[Weststander]

Going off on a tangent, is Shoreham convenient for you for the repairs?

I’ve used a bodyshop there for 15 years, on non-insurance jobs. They do a perfect job, at a fraction of the cost of the usual ££££ suspects in Sussex.

Leaving your insurer out of the loop.

 

[East Staffs Gull]

If the other driver reports the accident to his insurer you’re f****d anyway.

 

[LamieRobertson]

Going off on a tangent, is Shoreham convenient for you for the repairs?

I’ve used a bodyshop there for 15 years, on non-insurance jobs. They do a perfect job, at a fraction of the cost of the usual ££££ suspects in Sussex.

Leaving your insurer out of the loop.

The one off the High St? (Middle St?)

How many accidents have you had for 15 years

 

[NooBHA]

I might put in a whiplash claim after a few days.

It would be rude not to.

 

[Weststander]

The one off the High St? (Middle St?)

How many accidents have you had for 15 years

Hi. Your pm inbox is full.

 

[dazzer6666]

Hi. Your pm inbox is full.

It always is [emoji23]

 

[drew]

Under the T & Cs of your policy you may well be obliged to declare it anyway. You will probably need to declare it everytime you go on a comparison website as well. Might as well claim. If £1900ish is no problem to you then surely small increases over then next couple of years whilst you rebuild the NCD shouldn't be a problem.

 

[LamieRobertson]

Hi. Your pm inbox is full.

Pfft….yours has been bulging recently …inbox that is

Space now available