At fault - paying for damage

trojan10_om

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gingerbreadmen

You would still need to tell your Insurance company. So your premiums would probably still change, Even with you settling the bill for the repairs.

lopsyfa

You will still need to tell your insurer (and future insurers) anyway as in your policy terms and conditions. The cost of declaring to insurance will seem minimal if your policy is voided for non-declaration. Also, you will be responsible if the other driver come back to you in two years time for personal injury due to the accidents - your written and signed agreements will be pretty useless.

If I were you, I will just let insurance deal with it. That is why you are paying the premium. You may as well just use it.

Sometimes declaring accidents doesn't mean your premium will go up next year. It may not be as low as it would have been but may still be cheaper than your current year premium. The trick is to shop around at renewal and not just auto-renew. Also, some companies only as you to declare accidents in the last 3 years not 5 years and the impact will reduce with time. Even if your future year policy is higher than current year, it is still better than taking risks as mentioned in my first paragraph.

m0bov

Your premium will go up anyway when you notify. If you don't it will void it and if someone makes a claim it will REALLY rocket as you will be driving without valid insurance.

dinods

I had my car stolen and my insurance went up even though they didn't pay out.. they will still record it on the insurance database regardless once you report it.

neilmcl

trojan10_om wrote: »

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Really helpful.