Car crash advice

Kevina_2

Basically crashed 2months into my first insurance year and car. And was at fault during the crash last thursday Silly mistake i must admit.

Im just after advice. Should i carry out the remaining 10months insurance, or cancel it and start a new years insurance. Apparently my insurance is fine with cancelling.

Im just thinking its pointless to carry out 10months insurance for nothing, when i can start a new year and get back onto my NCD course. Or is NCD reset after each crash? Im under the impression its from the date the insurance is took out/renewal

Regards,

Kev

dacouch

You will still owe the insurers all the remaining instalments

gordikin

You have paid or will pay for 12 months cover......let the policy run until completion. You could have another accident next week on your new policy.....would you then want to cancel and start again.....and so on?

Kevina_2

gordikin wrote: »

You have paid or will pay for 12 months cover......let the policy run until completion. You could have another accident next week on your new policy.....would you then want to cancel and start again.....and so on?

That's a good point.

As to the owing them money - that's what I assumed. I have it in writing tho (Via e-mail) that upon completion of canellation the insurer will contact the finance company and no further payments would be required :S Seems too good to be true.

dacouch

Please be very careful as this is very unusual, it could all go wrong so if you do cancel make sure everything is water tight

pedro123456

Kev, as already said it would make sense to see the policy out if you have to continue paying premiums, as you are still at risk of further claims etc,

Does it make sense if the IC is willing to just call it a day, and let you start over?, I doubt it, if it suits the IC my bet is that it aint in your interest.
You will have to declare the claim and therefore get loaded for it now as opposed to 10 months time.

That said if you go down the start again path, as dacouch says be very careful, ensure there will be no further premium deductions, no administration charges, no cancelation charges, or any other hidden charges. Check and double check and get it in writing, before you make your decision.

My gut felling is to stick with the present IC, but it’s your call really.

Quentin

Kevina wrote: »

As to the owing them money...... I have it in writing tho (Via e-mail) that upon completion of canellation the insurer will contact the finance company and no further payments would be required :S Seems too good to be true.

What they have told you is correct, but have you been told how much they will charge you to complete the cancellation (in writing!)?

Expect the cancellation charge (which you will pay to the insurer in a lump, not the finance company) to at least equal the balance owing on the annual premium, and probably also have a cancel fee and early termination of the loan fee. (Though there would then be no further payments needed to the finance company!).

Kevina_2

Ok, I thought it was too good to be true!

Just guttered i had the accident now, 2 years of crazy insurance premiums ahead of me - plus my car needs repairing!

The joys of motoring lol.

Thanks for the advice guys

pedro123456

Kev you found a IC that settled without aggro, now that is indeed a rarity, accidents happen thats life, anyway good luck

lisyloo

accidents happen thats life

That's a terrible attitude towards something that could maim or kill someone (not everyone is in a metal box - like cyclists, pedestrians etc.).
Most road accidents are preventable according to the police.

You can reduce your chances of being in an accident by about 70% if you wish, by improving your observation, anticipation skills etc.
This would not only save you and others from potential death and injury, but save you a LOT on your insurance and save you a lot of hassle.
It does cost money to get coaching but almost always less than having a single accident.

pedro123456

terrible attitude?, what are you on about?

accidents happen, and thats a fact, of course we could reduce them happening, but we cant prevent them though,can we ?

Anyway I have no desire/need to defend my comments, to you thanks, you have taken it out of context