Query re claim on 3rd party insurance

DD265

A neighbour reversed into my car - just an accident - and they are willing to pay for the repair.

However the repair is very expensive (new door required) so there is a chance that they may end up having to claim on their insurance for it although we're trying to work out an alternative between us to avoid that.

Obviously they would then lose their NCD (not protected). However when it came to my insurance renewal, would I need to declare the accident? My car was parked at the time and I wasn't nearby.

InsideInsurance

Yes, you are required to declare all incidents claimed for or not. You have had an incident involving your vehicle so have to declare it on this policy and any others you are a named driver of.

If you settle privately then most people would "forget" to mention it but if they go via their insurance then it'd be a higher risk to forget to as the details will probably make its way into CUE or another such database that your (prospective) insurers may check to ensure you're telling the truth etc

Alter_ego

You are required to report it to your insurance Co now.

If you go for a private settlement make sure you don't have to resort to insurance later, they will want to know why you haven't reported it.

DD265

Thanks both I thought that would be the case.

EdGasket

If there is no claim on either insurance, then I see no need to report it and put your premium up. What have the insurance company done for you? Nothing. What have they lost? Nothing. So don't give them the excuse to charge you more.

InsideInsurance

EdGasket wrote: »

If there is no claim on either insurance, then I see no need to report it and put your premium up. What have the insurance company done for you? Nothing. What have they lost? Nothing. So don't give them the excuse to charge you more.

The reason why would be that it is fraud not to. As said, most will commit the fraud but there is a small risk in doing so

Spicy_McHaggis

InsideInsurance wrote: »

The reason why would be that it is fraud not to. As said, most will commit the fraud but there is a small risk in doing so

Would if be fraud or a breach of contract, surely the fraud would be when they don't declare it when they renew or obtain another policy.

InsideInsurance

Spicy_McHaggis wrote: »

Would if be fraud or a breach of contract, surely the fraud would be when they don't declare it when they renew or obtain another policy.

Yes, at renewal it would become fraud as they'd have to declare that the renewal was correct or falsely declare there were no incidents.

Aretnap

Spicy_McHaggis wrote: »

Would if be fraud or a breach of contract, surely the fraud would be when they don't declare it when they renew or obtain another policy.

Dishonestly failing to disclose information which you're under a legal duty to disclose is fraud - Fraud Act section 3. Is a contractual duty a legal duty for that purpose? I can't see an obvious reason why it wouldn't be.

Spicy_McHaggis

Aretnap wrote: »

Dishonestly failing to disclose information which you're under a legal duty to disclose is fraud - Fraud Act section 3. Is a contractual duty a legal duty for that purpose? I can't see an obvious reason why it wouldn't be.

But only if/when a policy is renewed.

Not telling them you've done a cash deal isn't enough, where is the financial gain?