Vehicle insurance issues...

graymic

Hey all,

First post and all that and I've got something of rather an issue. Was hoping some smart people on this forum could advise!

I was involved in an accident a few weeks back. I was on a motorcycle, the TP was in his car. Cut across my lane resulting in a tbone. Anyway, all caught on camera - he's definitely liable no which way about it.

I decided to go through an accident management company whom I've dealt with before and were fantastic. They have deemed my bike to be a write off. I have recouped most of the value of the bike minus around £100. Payout was split between TP's insurance paying out and salvage payout from a salvage company.

Problem is my current insurance was only opened a month or so ago, so I had the rest of the year left with them. They are saying they won't allow me to cancel until the claim is settled in full with my accident management company and that I'm not at "fault". Which is bloody infuriating because the accident management company won't take on the case unless I'm not at fault.

Any ideas, I'm effectively one bike down, waiting for the money on that and paying for an insurance policy on a bike I no longer own all because some plebeian didn't yield whilst trying to run across a junction illegally

mcjordi

Until the Accident management company recovers all costs from TP insurer then you are effectively "at fault" and your insurer are correct in not cancelling your policy

jonesMUFCforever

Why not pay the whole insurance premium to crystalize the situation. You should then be able to cancel it and move on.

agrinnall

jonesMUFCforever wrote: »

Why not pay the whole insurance premium to crystalize the situation. You should then be able to cancel it and move on.

I think the OP is looking for a way to not pay the remaining premium, not realising that a write off means that the full premium is due anyway. Presumably if his own insurer had paid any of the claim they would simply have deducted the premium owed, but because it was paid by the TP insurer it's now the OP that owes it.

Aretnap

agrinnall wrote: »

I think the OP is looking for a way to not pay the remaining premium, not realising that a write off means that the full premium is due anyway. Presumably if his own insurer had paid any of the claim they would simply have deducted the premium owed, but because it was paid by the TP insurer it's now the OP that owes it.

Shirley if the claim has been handled by an AMC and/or the TP company there has been no claim on the OP's polocy and therefore he's entitled to cancel on normal terms (whatever they may be), write off or write off.

A complication may arise if liability is in dispute and the OP''s insurers have recorded it as an open claim while they wait to see whether a claim from the TP materialises... but the OP says that the TP insurer has already paid, which make that seem unlikely.

Regardless of the satisfy of the claim if the OP are places the bike his insurer should let him transfer the remaining months of the policy to the new bike (possibly for an extra fee if the new one is more expensive to insure) so that may be worth considering - unless the incident has put him off biking altogether.

agrinnall

Aretnap wrote: »

Shirley if the claim has been handled by an AMC and/or the TP company there has been no claim on the OP's polocy and therefore he's entitled to cancel on normal terms (whatever they may be), write off or write off.

Yes, you may well be right about this, it's not a situation I've come across before so it could be treated differently to a claim against his own policy.

graymic

Hey guys a bit of an update.

They tried saying because a claim was made I had to pay the premium in full. However their T&C's stated if it was a claim made on their policy. This effectively meant that I was able to make a refund request. They essentially are due to refund me the amount pro-rata.

Effectively the TP admitted liability when I provided the AMC video evidence of the incident and as such the payout is going to be handled rather quickly.

Thanks for the feedback.

societys_child

They tried saying because a claim was made I had to pay the premium in full

You do, if you're paying for the insurance monthly, you have in fact taken out a loan and this needs to be repaid to whoever lent you it.

However their T&C's stated if it was a claim made on their policy. This effectively meant that I was able to make a refund request.

If you haven't yet paid the full premium, there's not any money to refund.

Even though you're paying monthly, you're not buying the insurance by the month, that would be much more expensive. You need to repay the loan that was used to pay your full years premium!

graymic

Well I paid a large chunk to change the vehicle over from the original vehicle on the policy. Anyway the point is. No I don't have to pay it in full because it wasn't a claim "through" the insurance company and rather a third party accident management company. I read through the terms and the wording and it's been refunded as I said above.

Long story short. If you claim through an accident management company it is NOT a claim through your insurance and doesn't lock you in to your policy. If you're not at fault and go via an accident management company it doesn't go down as a claim but rather a "note of incident".

The monthly policy cost was cancelled without problem and I was refunded the amount paid for months to date where I did not have the vehicle due to its write off.

Quentin

graymic wrote: »

Long story short. If you claim through an accident management company it is NOT a claim through your insurance and doesn't lock you in to your policy. If you're not at fault and go via an accident management company it doesn't go down as a claim but rather a "note of incident".

It is a "claim" whether you use an ACM/Solicitor/Third Party Insurer direct or your own insurer.




When applying for insurance in future you will be asked for your claim/losses etc history. When you disclose this incident, it was a claim (non fault). (Though whether you refer to it as an incident or a claim the outcome on any effect on your premium will be the same!)

graymic

Really not trying to be facetious. But the insurance company refunded me. The AMC have nothing to do with my insurance policy. The wording with my insurance company is a claim on your policy with us would mean you are liable to pay the policy in full. The technicality of it as agreed by the insurer and handled via the AMC's solicitors is that it is not a claim on my policy with my insurer but in fact with them, hence why it doesn't lock me in for the rest of the year and was closed off entirely.

You are right in the sense that I do not have to declare it as a "claim" though as it is in fact an non-fault incident. But I have noticed premiums changing as a result of it irregardless of whether it should or should not have a bearing on it.