Reporting a minor bump

monaymadlol

I was involved in a minor bump with someone as we came out onto a busy road and they braked suddenly. No damage to my car but he was a taxi driver in a hire car. Slight scratch on his, no more than £100 re-paint job. He said if it was his, he'd arrange a private repair for £100 and be done with it. He's going to speak to his boss.

I'm not sure it's in anyone's interest to go down insurance route.

Does it require reporting, even if there's no claim intention either party? Because if a collision is reported and no claim made, this must have an adverse affect on the policyholder? And is there a legal time limit to report?

Thanks

Sandtree

According to the terms of your policy you are obliged to inform your insurers as soon as practicably possible... but lets be honest most people "forget" to as it'll impact their premiums and then continue to defraud their insurers by not informing them for the next 5 years of getting new quotes each year.

The natural issue is after you pay the £100 and then he mentions the stiff neck he's had since the accident.

monaymadlol

Given the negligible impact/damage, the stiff neck would be unlikely.

I'd obviously get them to sign an agreement to payment on sending the payment, covers my back.

Reason I asked about timeline was that I thought it was 24 Hours.

And I'd like to know what negative impact this would have on my insurance if no claim was forthcoming? Or no impact and just for information purposes only?

Sandtree

monaymadlol said:

Given the negligible impact/damage, the stiff neck would be unlikely.

I'd obviously get them to sign an agreement to payment on sending the payment, covers my back.

Reason I asked about timeline was that I thought it was 24 Hours.

And I'd like to know what negative impact this would have on my insurance if no claim was forthcoming? Or no impact and just for information purposes only?

Read your policybook, most will simply say as soon as practicably possible... clearly if you are airlifted to hospital etc then demanding within 24 hours would be harsh. Many claims are registered days after and some months or years later (when court forms have arrived).

The impact of a FYI Only incident will vary significantly between insurers and by how high risk you were perceived before the incident. It could be negligible to nil with some but more notable with others

Nobbie1967

monaymadlol said:

Given the negligible impact/damage, the stiff neck would be unlikely.

I'd obviously get them to sign an agreement to payment on sending the payment, covers my back.

Reason I asked about timeline was that I thought it was 24 Hours.

And I'd like to know what negative impact this would have on my insurance if no claim was forthcoming? Or no impact and just for information purposes only?

If you get them to sign an agreement in exchange for payment, they could still go to your insurers later and use the agreement as proof you were at fault when seeking further damages. No guarantee the agreement would be legally watertight. If you hadn’t told your insurers, you would be in trouble.

monaymadlol

If it's an individual, I can see your point, but a private taxi hire company would likely not need the extra hassle or large sum of money. They've agreed to settle and I'll meet them at a bodywork shop place and will take any necessary receipt. 

Sandtree

monaymadlol said:

If it's an individual, I can see your point, but a private taxi hire company would likely not need the extra hassle or large sum of money. They've agreed to settle and I'll meet them at a bodywork shop place and will take any necessary receipt. 

Taxi drivers were by far the worst for exaggerated claims, in my claims days every single one would claim loss of earnings for the time the vehicle was in for repairs, everyone would claim to be working 7 days a week, taking £500+ a day but only been trading for a few months so no accounts or tax returns

monaymadlol

I've settled privately, think this guy was genuine. We went to a body workshop place, paid for work, got receipts, got him to sign an agreement I'd written up. Then went on our ways. Bit of a gamble but small price to pay rather than paying an excess and it affecting premium, we'll see.

ontheroad1970

Let's hope he doesn't get a clever call handler asking him if he's had an accident in the last 3 years.  If it was a cheap repair, then likely it wouldn't have had a huge impact on your premiums.   

KimJongUn88

Are you paying for a plated hire vehicle whilst this one is being repaired?

Sandtree

monaymadlol said:
 Bit of a gamble but small price to pay rather than paying an excess and it affecting premium, we'll see.

Excess is only payable if you claim for own damages, no excess is payable if its a third party only claim.