Do i need to pay excess if third party claims and its my fault?

Adson

said his happy to go through insurance if i don't pay £600 in damage. If he does go through Insurance what exactly will happen? Do i need to pay excess?

-This is my first year of my insurance and im paying £1300 i was hoping by next year it would go down. If my no claim bonus goes (if he claims) wud my insurance go up or jus remain the same (ik it wont go down)?

-IK its difficult to say but is it better to pay him £600 in damage or go through insurance

Quentin

Take care over settling privately. You cannot be sure the innocent party won't still come after more if the repairer discovers more damage)/hire car is involved/loss of earnings/whiplash etc

You won't normally pay any excess if the claim is paid by your insurer and is just for the third parties claim and not your car. Check your policy wording over this

Do dummy quotes online with and without a claim in your history to get a good idea of what it will cost at renewal

Though you do breach your policy conditions if you fail to notify your insurer about this incident

stator

You don't have to pay an excess.
Could be cheaper either way.
You have to tell your insurer about the accident. It will reduce your premium next year if the insurer doesn't have to pay out. But it might not make a huge difference. £600 is less than the £1300 you paid for the policy.
If you do dummy insurance quotes, use a fake name

lisyloo

Make sure you have documentation for the £600 and what it's for and that they sign that it's in "full and final" settlement.
Otherwise they can say they never got it or come back for more once they discover they have a sore neck.

Quentin

stator wrote: »

You don't have to pay an excess.

Depends on the insurer!


The OP should check the policy wording to see whether or not an excess is payable for all claims