Business Ins and accident claim

suzyq

I am on my firm's business insurance full comp policy, as I was reversing this morn I clipped somebodys bumper. Could this affect my own private car Ins ? I dont want it to put my premium up as it probably would do on my next renewal. Or would it be better If I pay for the repair and dont go through an insurance claim at all, it has bent this persons bumper and he says has caused a slight chip in the door where the bumper has bent.
Help Please!!

dogbot

If you are asked to declare if you have had any accidents or claims in the last x years then yes, you will have to declare the incident. The information is material to the insurer’s assessment of the relative level of risk you present to them.

Paying the claim yourself would still mean that you should declare the incident to your own private insurer, since it remains an incident where you caused damage and so, again, it is a material fact.


They will, most likely, see that it was a low value claims and on a business insurance so should not have too much of an effect. It will not effect your private no claims discount.


Try running a couple of quotes though a price comparison website and maybe direct line to see the effects, and how you might be expected to declare the incident.


However, it doesn't sound like it will be all that cheap! A bent bumper could mean more damage underneath, and damaged paint could mean a re-spray and blend of the doors and wing. The third party would expect, as had a right to, a top quality job just as you would for your own car. The vehicle might also be off the road for a day or two, meaning the third part is able to hire a replacement vehicle, which could cost you a fortune.


Also, i am sure that your employer will want their vehicle repaired?


Maybe you could ask the third party to get an estimate and see how much it works out at. Don't jump into making a decision before you have these facts.

Quentin

suzyq wrote: »

Could this affect my own private car Ins ?

It could as the incident on your history may result in a higher premium.

But as the incident has happened, there is no point paying for the repairs yourself. The cost of the incident (which may be more than just the bodyshop - there may be car hire costs etc) will be far more than any extra premium you might be asked for.

And even if you did pay it all yourself you still have to report it yourself to your own insurer, or risk giving your insurer a reason to reject any claim you make in future.