Named driver affecting policyholder

jengles88

Hello,

I hit a rock at the side of the road driving a friends car as a named driver on their insurance. I have a separate insurance policy for my own vehicle but am covered third party only in other vehicles. I'd estimate there's about £700 damage to the car. No other car was involved in the accident. I'm unsure as to whether I should claim through their insurance or try to resolve it outside of insurance. There is a £500 excess on my friends insurance, and I am concerned that claiming on his will affect his future premiums. He also has a 2 years NCB. Also could it affect the premiums of anyone else who is a named driver on the insurance? Who is obliged to let their insurer know of the accident regardless of whether a claim is made? When do they need to be notified? Is it possible to investigate costs outside of insurance, keep receipts and claim later if they start to spiral out of control?

Thanks,

Jengles 88

Aretnap

The driving other cars cover on your own car is irrelevant as (a) it's third party only, meaning that it won't pay for damage to the car that you're driving and (b) it doesn't apply if there's another insurance policy that covers you to drive the car, eg if you're a named driver in your friend's policy.

Basically you have two options

(1) Your friend claims on his policy. This will mean paying his £500 excess and losing two years of no claims bonus, and you and he will both have to declare the claim when applying for insurance for the next 3-5 years. If it really can be fixed for £700 then this is almost certainly not worth it, which leaves

(2) you put your hand in your pocket to get the car fixed. Strictly speaking you and your friend should both inform your insurers for information only even though you're not making a claim, but doibtless many people would decide that what their insurer's don't know won't hurt them.