Car Insurance Write Off - Insurance Help

Jroberts1993

Hi,

I went into the back of someone on a roundabout at a very slow speed but due to the age of my car, I assume it'll be a write off (Will confirm this over the weekend but bar under bonnet bent and radiator dislodged)). So, this will go down as a collision which is my fault when it comes to insurance.

I pay my car insurance monthly, with esure. The other party in the crash has decided he wants to go through insurance company. My car, however, will be of lower value than the excess I have.

1) So, I won't be paid anything for my car being written off. Is that right?

2) Assuming that's correct, is it possible to cancel my insurance so I don't have to pay the remainder (7 months) off and not claim anything. (I know his company will have to claim through my insurance, hence the query).

My plan is to get another car and, most likely, claim it with another company due to them being cheaper now I am due to lose my no claims.

Any advise, whether it answers my questions or not would be very much appreciated, I'm a bit of a novice when it comes to this, it's my first incident in which insurance has had to be involved.

Thanks!

Guest101

Jroberts1993 wrote: »

Hi,

I went into the back of someone on a roundabout at a very slow speed but due to the age of my car, I assume it'll be a write off (Will confirm this over the weekend but bar under bonnet bent and radiator dislodged)). So, this will go down as a collision which is my fault when it comes to insurance.

I pay my car insurance monthly, with esure. The other party in the crash has decided he wants to go through insurance company. My car, however, will be of lower value than the excess I have.

1) So, I won't be paid anything for my car being written off. Is that right? - Indeed. A valuer values your car immediately prior to accident, excess is then deducted, as well as payments for insurance, you get the rest.

2) Assuming that's correct, is it possible to cancel my insurance so I don't have to pay the remainder (7 months) off and not claim anything. (I know his company will have to claim through my insurance, hence the query). - no.

My plan is to get another car and, most likely, claim it with another company due to them being cheaper now I am due to lose my no claims. - you only lose 2 years.

Any advise, whether it answers my questions or not would be very much appreciated, I'm a bit of a novice when it comes to this, it's my first incident in which insurance has had to be involved.

Thanks!

Dont cancel anything, you get insurance for a year, so you should in theory be able to register your new car for the remaining 7 months

facade

You can't cancel your policy, as it is going to pay out to the other driver. As above insurance is for a full year (unless you took out a shorter term policy) paying by instalments is actually taking out a loan for the year's premium, and paying it back with interest- so you have to keep on paying

You can decline to claim for your damage/car, in which case you straighten the bent bar, put the radiator back and keep on driving it, or sell it for what you can and transfer your policy to the "new" car for the remainder of the year..

Jroberts1993

Ok, thanks guys.

I guess my car insurance premium will instantly increase? Is that true?

Or will it only increase at the end of the year when I renew?

Thanks

Jroberts1993

Guest 101, just to confirm. When you claim you lose 2 years no claims? Not your whole lot? I currently have 4 so when I renew I can still state I have 2 years no claims?

Guest101

Jroberts1993 wrote: »

Guest 101, just to confirm. When you claim you lose 2 years no claims? Not your whole lot? I currently have 4 so when I renew I can still state I have 2 years no claims?

Yes that's correct

Jroberts1993

That's great, really appreciate your help.

Would you be able to answer this too?

I guess my car insurance premium will instantly increase? Is that true?
Or will it only increase at the end of the year when I renew (even if I am changing the car on the policy)?

Thanks

Jamiesmum

You don't have to have yours written off, only if you want to claim for your damage to be fixed.

You can continue to drive yours (assuming it's road worthy and safe still) and you won't have to pay your excess at all.

Plus, the claim will not affect your premium instantly only when it's time to renew as you state your claim and lesser no claims bonus.

Hope that helps!

Jroberts1993

Ahh ok, thanks.

The other party have contacted their insurance to make a claim which will go through mine to claim the money. They did this a few days ago, I am yet to hear from my insurance. Should I get in contact with them or will it all be sorted without consulting me?

Sorry for the barrage of questions, as you can tell I am pretty naive and lacking knowledge on this subject!

Jamiesmum

You should probably ring them and let them know. They will contact you at some point anyway to ask your side of the story and see if there is a way you was not at fault before they respond to the other persons insurers.

Guest101

Jroberts1993 wrote: »

That's great, really appreciate your help.

Would you be able to answer this too?

I guess my car insurance premium will instantly increase? Is that true?
Or will it only increase at the end of the year when I renew (even if I am changing the car on the policy)?

Thanks

It can vary slightly given the new car will probably be worth more (or possibly in a higher insurance bracket) but it shouldn't rise substantially until renewal as he has in effect paid for a years insurance.