accident exchange

dacouch

Brooker_Dave wrote: »

So do credit hire companies deal with trade policies?

Yes they do as it's a normal road traffic accident.

I once had a trader who purchased a Ferrari convertable in October (At a low price) to drive as his own vehicle through the Winter and then sell at a profit in the Spring.

He took to a Ferrari dealership for a service in January and they promptly wrote it off on a "Road Test" by losing control and spinning through 720 in a field off the carriage way. (No other vehicles involved)

He wasn't able to use a Credit Hire company as the claim was against the Customers Vehicles part of the policy (Not the third party liability) and their Insurers (RSA) specifically excluded paying for CH under this part of the policy (They can't exclude it under the Third Party Liability).

They offered him a Fiat Punto as an replacement vehicle while his claim was being dealt with.

There was a chance he could have hired a like for like vehicle at his own cost and then try and sue the garage but it was a risk he was not prepared to take due to the costs involved.

He was not happy with the offer of a Fiat Punto and that he received the value of the Ferrari on January prices rather than what he would have been able to sell it for in Spring