Insurance or not

lozziedlm

Hello I'm a relatively new driver (although am middle aged) so would appreciate some advice from more experienced drivers. Unfortunately I had a minor accident resulting in some damage to a parked car. Long story short I have paid for the repairs to the car I hit as the owner did not want to go down the insurance route. However I underestimated the cost of the repairs to the bodywork on my car which will be around 2K. My question is should I self fund or go through my insurance to repair my own car, my excess is £450. I'm not sure how big the penalty is to lose your no claims and no idea how much the premiums will go up. Would really appreciate any words of wisdom!!!!

AndyMc.....

lozziedlm wrote: »

Hello I'm a relatively new driver (although am middle aged) so would appreciate some advice from more experienced drivers. Unfortunately I had a minor accident resulting in some damage to a parked car. Long story short I have paid for the repairs to the car I hit as the owner did not want to go down the insurance route. However I underestimated the cost of the repairs to the bodywork on my car which will be around 2K. My question is should I self fund or go through my insurance to repair my own car, my excess is £450. I'm not sure how big the penalty is to lose your no claims and no idea how much the premiums will go up. Would really appreciate any words of wisdom!!!!

The correct answer is you should have told your insurance company whether you decided to claim or not.

You now either want help getting out of the hole your in or you want to talk about conspiracy to defraud.

Which is it?

neilmcl

lozziedlm wrote: »

Hello I'm a relatively new driver (although am middle aged) so would appreciate some advice from more experienced drivers. Unfortunately I had a minor accident resulting in some damage to a parked car. Long story short I have paid for the repairs to the car I hit as the owner did not want to go down the insurance route. However I underestimated the cost of the repairs to the bodywork on my car which will be around 2K. My question is should I self fund or go through my insurance to repair my own car, my excess is £450. I'm not sure how big the penalty is to lose your no claims and no idea how much the premiums will go up. Would really appreciate any words of wisdom!!!!

All depends on what you currently pay for insurance and how much no claims do you have. If it's not enough to be protected then you're looking at losing at least 2 years plus the current year that your on. You'll need to do some dummy quotes to see if it's worth while or not.

Also, they may not be that impressed that you haven't yet told them about the accident, as you're contractually obligated to do.

jk0

But is there even any need to repair your car, unless it's on a PCP or leased?