Car Insurance - 50/50 settlement advice.

researcher

If I was to agree to a 50/50 settlement for a motor insurance claim, would I still be liable for the excess on my policy if my negligible damage wasn't repaired?

InsideInsurance

The excess is only payable if you claim for the damages to your vehicle. If you dont claim for them off your policy then you have no excess to pay.

On a 50/50 settlement you can recover 50% of your uninsured losses from the third party/ their insures. If you did claim off your insurance you could get 50% of the excess back. If you dont claim you can recover 50% of your repair costs from the TPI

OnanTheBarbarian

If you make no claim for your own damage, you don't pay your excess.

You could get 50% of the estimated repair costs from the insurer of the other party though

InsideInsurance

tornado55 wrote: »

I would never admit liability and go al the way to court

So, your both driving along a 3 lane road. You in the left lane, them in the right lane. You both indicate and both move into the middle lane at the same time. Independent witnesses confirm both indicated and both merged at the same time.

What are you going to court for? You think it would be a particularly interesting experience and worth paying their legal fees to have the experience or something?

researcher

Thank you everyone.

Our damage is minima,l so, by agreeing to a 50/50 settlement it will put the whole thing behind us, (and as our policy is protected at no cost). If however we were going to have a pay the excess because of the other drivers (claimed but disputed) damage, we'd get our car repaired too.

OnanTheBarbarian

Your premiums may still go up as although you have protected NCD, there has still been a "fault" claim resulting in your insurers paying 50% of the third party losses.

Protecting the NCD only guarantees they will apply the same say 65% reduction from your gross premium, but it does not prevent the gross premium increasing due to the claims history you now have. So before the accident your gross premium was say £500, less 65% = £175.00 net premium. Now with the claim, your gross premium rises to say £650, less the same 65% discount = £227.50

[Deleted User]

Would you care to enlighten us as to what the 50/50 fault accident was? Just curious to know.