Car insurance claim/privately settle

prads
prads Posts: 2 Newbie
First Post First Anniversary Combo Breaker
in Insurance & life assurance
Hi guys,

I had an accident this morning with a neighbour, my car skidded on some ice and I hit his car.

He has called his insurance company, I am yet to call mine.

I was wondering if I could settle the cost with him privately? Or will I now have to contact my insurance and go down that route?
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Comments

  • McKneff
    McKneff Posts: 38,819 Forumite
    Name Dropper First Anniversary First Post
    Whether you settle privately or not, you still have to inform your insurance company.
    make the most of it, we are only here for the weekend.
    and we will never, ever return.
  • newbie007_2
    newbie007_2 Posts: 344 Forumite
    As above, but might be cheaper to settle privately, so not losing a fault claim and extras loaded on insurance for 5 years.
  • McKneff
    McKneff Posts: 38,819 Forumite
    Name Dropper First Anniversary First Post
    You still have to inform your insurance company, they will still load your policy even if you dont make a claim through them. The point is because you have had an accident you are a bigger risk.
    It is in all Insurance Companies Terms and Conditions so if you dont inform them you risk having any further insurance cover voided.
    and you will have difficulty in even getting any insurance. So beware.............. Its up to you whether you risk it or not.
    make the most of it, we are only here for the weekend.
    and we will never, ever return.
  • no-oneknowsme
    no-oneknowsme Posts: 1,955 Forumite
    How much damage is done to the two cars ?

    Surely even if your neighbour does put it through the insurance , you could always reimburse your insurance company for anything they have to pay out and that would mean you wouldnt have to pay the excess . You also wouldnt loose your NCD.

    All depends how much the repairs cost i suppose .

    Now that your neighbour has informed their insurance company you have to tell yours as it will recorded on the system.
    The loopy one has gone :j
  • adamc260
    adamc260 Posts: 2,055 Forumite
    no-oneknowsme wrote: »
    How much damage is done to the two cars ?

    Surely even if your neighbour does put it through the insurance , you could always reimburse your insurance company for anything they have to pay out and that would mean you wouldnt have to pay the excess . You also wouldnt loose your NCD.

    All depends how much the repairs cost i suppose .

    Now that your neighbour has informed their insurance company you have to tell yours as it will recorded on the system.

    Very good advice, would of said the same :)
  • lisyloo
    lisyloo Posts: 29,609 Forumite
    Name Dropper First Anniversary First Post
    Was anyone actually IN the car?? or did you hit an empty car?

    With an empty car you could look at private settlement.
    If someone was in the car then personally I would not do it as they have 3 years to come back with a personal injury claim (longer if they are a minor).
    You might think the bump was very minor but people can claim whiplash symptoms in very slow speed accidents.
  • no-oneknowsme
    no-oneknowsme Posts: 1,955 Forumite
    adamc260 wrote: »
    Very good advice, would of said the same :)


    Thanks Adam
    The loopy one has gone :j
  • losgiganteskid
    losgiganteskid Posts: 963 Forumite
    First Post First Anniversary
    McKneff wrote: »
    You still have to inform your insurance company, they will still load your policy even if you dont make a claim through them.

    The first part of this sentence is correct but the latter part is not ! - it is not necessarily the case that your insurers will load your premium.
  • single_lonely
    single_lonely Posts: 284 Forumite
    losgiganteskid wrote: »
    The first part of this sentence is correct but the latter part is not ! - it is not necessarily the case that your insurers will load your premium.


    i always assumed whether you are the 'victim' or not, since you were involved in an accident your premium will rise.
    Am i wrong??
  • adamc260
    adamc260 Posts: 2,055 Forumite
    losgiganteskid wrote: »
    The first part of this sentence is correct but the latter part is not ! - it is not necessarily the case that your insurers will load your premium.

    Generally speaking they do as they see you as 'more of a risk'
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