3rd Party Car Ins Claim £13k I'll have to pay

vaio

I'd be very surprised if nay insurer could retrospetivly void a policy as far as RTA and equivalent Euro requirements

forgotmyname

Except it wasn't a road. Its a racetrack. Dont see how you can apply the term toll road to a racetrack.



The rent a racecar looked good until i spotted its only 1 lap.. Damn. € 139 for one lap in a GT86

vaio

I thought the Nurburgring was a public road/place as far as insurance is concerned?

If it's not then why would the OP's insurance be involved at all?

BertTheRaccoon

The ring is a toll road, you need to buy a ticket to enter, anyone can enter if they pay, there's coaches and all sorts of shizzle driving around there.

InsideInsurance

You need to check the wording of your policy, Tescos for example exclude it using the following term:

We will not pay claims for loss or damage resulting from the use of the car at any event during which the car may be driven on a motor racing track, de-restricted toll road, airfield or at an off road event or on the Nürburgring.

Nürburgring from what I understand legally is a de-restricted toll road in germany and so would be excluded but tescos are being belt and braces by naming it.

As it is legally a public road your insurers would have to settle the TP claim IF you are liable but they then have a right of recovery from you for their losses as it is explicitly excluded from cover.

scarletfan

Thanks for the replies. My insurer also has a clause stating that the Ring is not covered which I found when I returned home. I had read the territories and Foreign use section before going but its right at the end in general exceptions.
Another section states that any costs they are forced to pay by other countries laws, that would not have been covered by the policy, will be claimed back from the insured. So i'm paying for it either way. I'm still awaiting the biker claim amount.

As above my major concerns are;
- letting it go through the insurance and having to pay all the costs plus some extra they throw in
- what the effect on getting insurance will be. Will I end up having to use smaller insurance companies at very high premiums.

I am also considering that this may mean I'll have to file for bancruptcy although I may earn too much to be able to.

Quentin

You cannot stop the third party claiming off your insurer (and from your op you can't pay the third party anyway)

You will have to await the conclusion of this to see whether or not getting insurance in future will be a problem - only if they cancel your policy, then you will probably have a restricted number of insurers prepared to take you on, and usually at above average cost.

InsideInsurance

scarletfan wrote: »

Thanks for the replies. My insurer also has a clause stating that the Ring is not covered which I found when I returned home. I had read the territories and Foreign use section before going but its right at the end in general exceptions.
Another section states that any costs they are forced to pay by other countries laws, that would not have been covered by the policy, will be claimed back from the insured. So i'm paying for it either way. I'm still awaiting the biker claim amount.

As above my major concerns are;
- letting it go through the insurance and having to pay all the costs plus some extra they throw in
- what the effect on getting insurance will be. Will I end up having to use smaller insurance companies at very high premiums.

I am also considering that this may mean I'll have to file for bancruptcy although I may earn too much to be able to.

Your insurers won't throw in any extras unless you don't play ball and force them to go to court to try and recover the monies from you.

No, you wont be "blacklisted" with insurers, you'll just have a claim you must declare going forward, though your current insurer may not be willing to offer you terms again at renewal.

You will need to see what happens really, different insurers pursue their clients to different degrees when it comes to recovering their outlay and even those that do pursue will take a pragmatic repayment plan as long as you are fully open and do offer up what is reasonable and evidence why thats all you can afford etc. At the end of the day they aren't going to want to add a couple of extra thousand of legal fees to the bill if the courts are likely to agree that you can only afford £1 a week repayments.

scarletfan

Quentin wrote: »

You cannot stop the third party claiming off your insurer (and from your op you can't pay the third party anyway).

Could I just ignore all correspondance from Germany? Would they be able to get my insurance details from my car reg.? The other party's insurer is Germany based only.

HappyMJ

scarletfan wrote: »

Could I just ignore all correspondance from Germany? Would they be able to get my insurance details from my car reg.? The other party's insurer is Germany based only.

You can yes...They can take you to court in Germany to recover their money and your credit will only be affected in Germany. It won't appear on your UK credit report.

They can employ debt collectors in the UK to try and get the money though but as you've said you own nothing so they shouldn't bother doing that.