Total loss payout with sp30

Boozil

Hi guys, I would really appreciate any help on this.
2 weeks ago I drove through a puddle, car stopped, irreparirable water damage, total loss. It has been inspected and the valuations people have agreed a surprisingly decent amount for the car. However, 2 weeks prior to the incident I got a speeding ticket, sp30, I told the insurance company about this only when I called up to make the claim.
The valuation dept called me this morning to tell me their value of the car and I called the insurer to ask when I can expect the payment to arrive, they said it will have to be looked at by their underwriters to see about what adjustments need to be made because of this ticket ( also, some alloy wheels which I thought were standard but it turns out could also have some impact).
I am now fretting that they may not pay me a penny or a severely adjusted amount. Is this likely? I only received my license back from the dvla with the points on 4 days before the incident took place.
I pay monthly for my insurance and understand that my remaining monthly payments come out of the payout, that's fine (although it seems like a bit of a crafty trick to make me stay with that insurer) plus the excess.
Now I'm left sweating waiting for the underwriters (who, I've been told, may or may not write to me) to have a look.
Anybody else's experience in this area would be greatly appreciated.
Thanks

InsideInsurance

People have a nasty habit of cancelling their DD and not paying the rest of the term when they no longer have a car to insurer hence why its common for insurers to deduct the remaining payments from the settlement cheque to ensure they get them.

A single SP30 wont make much difference to your premiums assuming you've no priors and otherwise a low risk. The undeclared modification of alloys will also add a bit but again shouldnt be earth shattering.

tberry6686

I pay monthly for my insurance and understand that my remaining monthly payments come out of the payout, that's fine (although it seems like a bit of a crafty trick to make me stay with that insurer)

Car insurance is not monthly, it is an annual policy so no trick involved and all insurers are the same in this respect.

The alloys may be classed as a modification and so should have been declared but will probably have little to no effect on the payout (although they could try playing hardball and reject the claim completely, unlikely though as the ombudsman would almost certainly overrule them on this).

As far as the speeding ticket goes, what do your policy documents say about declaring this to the insurer ?

Hoof_Hearted

If it helps, I phoned my insurer to declare a SP30 and was told not to worry and to leave it until renewal. Not sure if this is typical.

Car_54

Hoof_Hearted wrote: »

If it helps, I phoned my insurer to declare a SP30 and was told not to worry and to leave it until renewal. Not sure if this is typical.

Some want immediate notification. You need to read your policy.

harveybobbles

Are the alloys original or are they obviously after market?

forgotmyname

Have you checked to see if your insurer will actually cover modified cars?

jobdone1

Learning curve in the future you clearly knew about the speeding because you surrendered your license. At that point you should have informed your insurance company. Hopefully they will understand.

Boozil

I informed the insurance company of the sp30 at the first stage of the claim process, voluntarily. They asked for a copy of my license a bit further down the claim process. I guess I'm on thin ice as I didn't let them know as soon as I got the speeding ticket, even though it was only 4 days prior to the incident. Also, foolishly, I don't have and policy booklet, I don't recall ever being sent anything of that nature and it's not with my documents ( cover not, statement etc) , I know this is my fault for not chasing it up.
With regards to the wheels, I don't know if they are factory or not. The car is now the property of the salvage company I think so I can't look. I Don't think there was a ford badge on them though. They have been on it since I've owned it and we're not massive boy racer wheels.

Aretnap

Who is the insurer?