How should I pay for repairs when settling minor car accident privately?

soooophie

I recently scrapped the car of a fellow employee which resulted in a small dent and scratch to her bumper. We agreed to settle privately and she has got an estimate for repairs which came to £160. She wants the money in hand but is it better to do a bank transfer or write a cheque to the company doing repairs so that I have a record of money exchanging hands. Should I get her to sign a written agreement too?

Quentin

You have come up with the problems of doing things outside insurance


You cannot force the other party to sign anything (though you can try)


You are in their hands should you pay up and they discover more damage etc.

Aretnap

If you trust her then it doesn't really matter how you pay our what she signs.

If you don't trust her then you shouldn't be trying to settle privately with her.

Jocelyn-:-)

I would always do an agreement stating that she would not claim on your insurance after the payout, otherwise if she does, you lose the £160 and increase in insurance premium - for me this is essential. My relative has done this before, but it had never happened to me.

I would prefer doing it through bank transfer (and surely how would it matter to her, she can withdraw it right away).

csgohan4

I would go through insurance, because nothing stopping them claiming anyways and your 160 is gone

ashleypride

You have to declare it to your insurance anyway so there is no point paying directly.

Phone up your insurance company, tell them what happened, and that you want to pay for it. Your insurance company will then call the 3rd party, and sort that out, then you can reimburse your insurance company.

Tom99

[FONT=Verdana, sans-serif]If you know them well then just give them the £160, but if you don't then ask them to sign a 'full and final settlement' receipt for the cash.[/FONT]