Hastings question RE: after accident

santas_helper

im posting this one for a friend because its not something i have heard of...

recently, his car was hit in the street while he was in the house, all down the drivers side bashed. he has already been quoted to have it repaired, and the repair is coming in at more than the car is worth, so we know its going to get written off.

when he spoke to hastings today, he was told that whatever is left to pay on his premium would be deducted from his payout in the oner, fair one, but that if he wanted to keep the policy going he would still have to pay an admin charge for adding a new car.

he has worked out that he will only get about £400 payout roughly, going on the average price of his car, and what he has left to pay and his excess....

is this the norm, as any time i have had an accident, they let me change the car over, and just ammend my monthly payments to reflect whatever the new premium is...

Quentin

It is normal with many insurers after a write off to get the balance of money owed on the year's premium to be deducted from the settlement.

Some insurers end the policy after a write off, so your friend is better off than he might have been.

Before buying his new car he should check that it is acceptable to his insurer, as if not and he wants it, this would mean starting a brand new policy (and no refund for the cancelled part of the policy)

santas_helper

although the bit that i have just thought of, the insurance company are taking the car tomorow, and they said they are going to store it pending inspection.... surely this is also gonna build nice storage fees is it not?

Quentin

That is their problem, and won't affect the write off settlement - (if it is ultimately written off)