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Car insurance claim/privately settle
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# 1
prads
Old 24-12-2010, 1:27 PM
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Default Car insurance claim/privately settle

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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# 2
McKneff
Old 24-12-2010, 2:13 PM
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Whether you settle privately or not, you still have to inform your insurance company.
No one can make you feel inferior without your consent
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# 3
newbie007
Old 24-12-2010, 2:21 PM
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As above, but might be cheaper to settle privately, so not losing a fault claim and extras loaded on insurance for 5 years.
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# 4
McKneff
Old 24-12-2010, 2:32 PM
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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.
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# 5
no-oneknowsme
Old 24-12-2010, 2:44 PM
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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.
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# 6
adamc260
Old 24-12-2010, 3:27 PM
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Quote:
Originally Posted by no-oneknowsme View Post
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
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# 7
lisyloo
Old 24-12-2010, 3:31 PM
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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.
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# 8
no-oneknowsme
Old 24-12-2010, 3:40 PM
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Quote:
Originally Posted by adamc260 View Post
Very good advice, would of said the same

Thanks Adam
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# 9
losgiganteskid
Old 24-12-2010, 3:58 PM
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Quote:
Originally Posted by McKneff View 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 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.
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# 10
single_lonely
Old 28-12-2010, 8:17 PM
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Quote:
Originally Posted by losgiganteskid View Post
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??
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# 11
adamc260
Old 28-12-2010, 8:32 PM
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Quote:
Originally Posted by losgiganteskid View Post
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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# 12
foxyuk
Old 28-12-2010, 10:22 PM
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you can inform your insures only on a basis of information purposes only and they can do the same ... all it does is note it however does not show on any renewals or anything because no actual claim submitted.

id try to get your neighbour to get a pro-forma quote from a garage this will show total price you will be liable for .... rather than seeing £120 labour and parts listed and before you know it you have £700 bill with paint, sundries exras etc
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# 13
adamc260
Old 28-12-2010, 11:14 PM
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Quote:
Originally Posted by foxyuk View Post
you can inform your insures only on a basis of information purposes only and they can do the same ... all it does is note it however does not show on any renewals or anything because no actual claim submitted.

id try to get your neighbour to get a pro-forma quote from a garage this will show total price you will be liable for .... rather than seeing £120 labour and parts listed and before you know it you have £700 bill with paint, sundries exras etc
Not true, I notified my insurer of an 'incident' - no one claimed but it still was on my renewal schedule, and each subsequent insurer I had to inform (for between 3-5 years, depending on insurer)
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# 14
Gene_Hunt
Old 29-12-2010, 1:36 PM
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Quote:
Originally Posted by McKneff View Post
Whether you settle privately or not, you still have to inform your insurance company.
Correct.

Quote:
Originally Posted by newbie007 View Post
As above, but might be cheaper to settle privately, so not losing a fault claim and extras loaded on insurance for 5 years.
Why?

You don't really understand car insurance do you?
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# 15
lisyloo
Old 29-12-2010, 2:04 PM
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Quote:
i always assumed whether you are the 'victim' or not, since you were involved in an accident your premium will rise.
None of us can say what every insurers pricing model will be in the future.

It's becoming increasingly common to be penalised for claims and this can these days include non-fault claims, even if you car was parked and you weren't even driving.
The effect is going to depend on a number of other factors - but an important one is how many other claims you've had in the past 3-5 years.
My own personal experience is that one claim is not too bad, but becoming a serial claimer really starts to put your price up.
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