Car insurace settlement not fully paid.

garfunkel_dave

Hello, I have recently been involved in a motor incident which was not my fault, and was given a settlement figure in the sum of £3600, my insurer paid £2975 and told me i would have to claim the rest from my broker. I asumed would pay back the excess of £625, my broker has failed to pay me back and has said as i pay monthly for my insurance that the money will be credited to my account and the remainder then sent on 2 weeks later. They have also charged me £20 to transfer my insurance onto the new vehicle which i argued shouldn't be a charge for myself to pay. Overall i have been faced with raising extra cash to get another vehicle. I would appreciate any advise anyone would have to offer.

Kind regards

Dave

dogbot

Your broker is not liable to pay the excess; the responsible party (or their insurer) is the one responsible for this as it is an uninsured loss for you.

You are insured only for sums above your excess, with the excess being an amount that you "self insure".

Brokers have in the past made a habit of providing you with added value by chasing for these basic uninsured losses themselves. Alternatively they may have sold you an in depended policy that covers uninsured loss recovery (ULR).

That said, when I handled claims for an insurer a couple of years ago, I would usualy ask for a cheque for the policyholders excess to be sent to them or via ourselves as a courtesy (except in cases where there was a broker or they defiantly had their own arrangements for ULR).

Find the details of the other party’s insurance company, including the claim reference, and give them a call to ask for the excess. They may ask for proof of this, so you can send copies of you policy schedule showing your excess, and any letters from your insurer stating the agreed value of the vehicle. Alternatively contact your broker or ULR insurer for help on your behalf, particularly if you have other uninsured losses.

EDIT: I will leave this but have just re-read the origional post! See next reply

dogbot

Sorry I have just re-read the origional post. I don't understand why your broker would pay you your excess, but crediting your account would seem a logical and easy way to do it if they are liable for that under the contractual arrangement.

As to the £20 admin charge, I would argue as best you can that it is unfair and that the change was made though no fault of your own so should be waived. State that you are making an expression of dissatisfaction or complaint quite clearly and they will have to take the matter seriously as a formal complaint.

Check the wording of your contract though, it may explicity state that they are able to make that charge. Even if it does, it is worth complaining about it because often they will be keen to keep your business. Admiral waved my admin charge when I called to ask for a quote to update my insurance to a new vehicle after the old one failed it's MOT. They didn't hesitate a moment and just dropped it!