[Need advice] knock down neighbour motorbike when parking, requested repair bill >£1k

starkiwi26

If I go through insurance, there will be an excess of £250
and I will lose my 3 years NCB, renewal on Dec 2017 (assumed 30%, this is about £350, based on my last year insurance £7xx)
and as I made claim now, the next year insurance premium will increase. (assumed £150)
So, the total cost is about £750.
This didn't include the impact of claim and NCB lost for the subsequent years.

£750 compared to his quotation £1068.
If the impact of claim and NCB lost for the subsequent years are considered, there is actually no different in term of monetary. But claim the insurance now will make me have to declare this claim for many years to come.

it is not that I cannot afford, but a mistake, cost me 1 month of hard earned salary, I just want to cry... because I always try to save money, and now burn my 1 month salary just for this mistake

Mercdriver

Owain_Moneysaver wrote: »

You would be wise to pay the money and settle up. If the bike owner wants to he can report you to the police for Driving without due care and attention, and Failure to report an accident. Both carry points on your licence, which will affect your insurance (probably far more than a civil damages accident claim).

You will generally only get points for the most serious offence of the two - both fines would be payable, but only one set of points. As Warwick has said, the chances of the police prosecuting for failure to report is vanishingly unlikely.

OP - this is what insurance is designed for. Let them deal with it. If you were to get it repaired outside of insurance and informed them (as you should as your insurance could be cancelled if you don't and that would make insurance unaffordable for life as you have to declare cancelled insurance) your renewal price would likely go up in any case in spite of you not claiming, you would be considered a higher risk.

debtdebt

starkiwi26 wrote: »

If I go through insurance, there will be an excess of £250
and I will lose my 3 years NCB, renewal on Dec 2017 (assumed 30%, this is about £350, based on my last year insurance £7xx)
and as I made claim now, the next year insurance premium will increase. (assumed £150)
So, the total cost is about £750.
This didn't include the impact of claim and NCB lost for the subsequent years.

£750 compared to his quotation £1068.
If the impact of claim and NCB lost for the subsequent years are considered, there is actually no different in term of monetary. But claim the insurance now will make me have to declare this claim for many years to come.

it is not that I cannot afford, but a mistake, cost me 1 month of hard earned salary, I just want to cry... because I always try to save money, and now burn my 1 month salary just for this mistake

In that case, just pay the £1000 and get over it. It was your mistake, you need to take responsibility and deal with it like an adult. Nobody made you reverse into that bike. It was your own actions. Just think about the owner of the motorbike. They did nothing wrong and their bike is damaged!!!!

starkiwi26

I was planning to pay the £1068, took an expensive lesson, and move on. this incident had bothered me a lot, cannot sleep until 2am now.

But, having read brother Mercdriver's comment below, made me worry again.
I was thinking to pay £1068 and move on. But do I have to inform my insurance on this?

OP - this is what insurance is designed for. Let them deal with it. If you were to get it repaired outside of insurance and informed them (as you should as your insurance could be cancelled if you don't and that would make insurance unaffordable for life as you have to declare cancelled insurance) your renewal price would likely go up in any case in spite of you not claiming, you would be considered a higher risk.

If i have to inform my insurer even I don't make any claim, then I might as well just claim the insurance...
Sorry, I am very inexperienced on this, need advice.

Car_54

Mercdriver wrote: »

As Warwick has said, the chances of the police prosecuting for failure to report is vanishingly unlikely.

Especially when there was no requirement to report ....

marlot

starkiwi26 wrote: »

If I go through insurance, there will be an excess of £250...

There's no excess to pay on a third party claim.

loskie

yes you have to notify your insurance of any ACCIDENTS, CLAIMS or CONVICTIONS irrespective if you claim or not. It will also protect you if you settle privately with the other party then he tries to claim off you as well.

Richard53

starkiwi26 wrote: »

If i have to inform my insurer even I don't make any claim, then I might as well just claim the insurance....

That's how it works. Your insurance terms and conditions will say that you should report every incident or loss to them, regardless of blame. I definitely wouldn't advise ignoring this.


Exactly the same thing happened to me. I parked my bike at work and a colleague knocked it off its stand with a careless nudge. Damage was some scratches to the exhaust and the side plastics. She offered to pay cash until I gave her the estimate. Like you, she couldn't believe how easy it is to do a lot of expensive damage to a motorcycle.

GwylimT

Two options.

One pay up, may be cheaper in the long run, just remembe to declare the accident for the next five years when purchasing insurance.

Go through insurance.

If you're worried about an insurance increase do two dummy quotes, one with the insurance knowing about the accident, and one with a fault claim.

Tom99

I would go with your insurance, at the end of the day it won't amount to £1,068 and some cost will be defered til next year anyway.