Total Loss on a cheap car or cancel claim ?

jehangir

hi , just an update on my previous post .
http://forums.moneysavingexpert.co/showthread.html?p=25325021#post25325021

I was in a non fault accident around 2 weeks ago , my car has been classed as a total loss by the other parties insurers , it has damage to the back bumper and a dent in the boot but is driveable but the repair would cost more than the car is worth ( according to the insurers).

It is an early 90s pegeot 205 diesel , i know it is an old car but is very reliable and cheap to run .

My question is , i f i wanted to keep the car would i have to inform my insures that the car was classed as a total loss by the other party ( i am third party fire and theft) and cancel the claim , i am worried that this will increase my premium?

Or should i get a independant qoute , then class is a a total loss and ask to buy back the car off them and get it repaired.

I really do not need the hassle of looking for another car and gettingn it mot , serviced etc.
Thanks in advance
Jehangir

Mark_Hewitt

Of course you don't have to accept the assessment of the third parties insurers. But if you have to tell your current insurance company? Of that there is little doubt!

Quentin

jehangir wrote: »

My question is , i f i wanted to keep the car would i have to inform my insures that the car was classed as a total loss by the other party ( i am third party fire and theft) and cancel the claim , i am worried that this will increase my premium?

You can't do anything to prevent this incident having an impact on your premium (your profile has changed as a result of being involved in the collision, and this may affect your base premium). As the third party has accepted liability, then no claim will be made by the third party against you, so your NCD is unaffected by the incident.

So cancelling the claim is pointless. Get the best settlement you can, keep the car and see if you can get it repaired at a more reasonable cost at a backstreet bodyshop.

As previously advised, whatever you decide, you must inform your insurer about the incident.

mcjordi

it will be a small salvage value removed from the settlement figure if you want to retain the car
be around the £50 or less mark i would of thought.. i had a pug 106 n reg diesel rear ended by a numpty 2 years ago i kept the car and it only cost £10 to keep it.. scraped it in for £150