To go via insurance or not

The_Palmist

Hi Folks,

We damaged our car while reversing in a car park, no third parties were involved and the damage is to car only. Quotes so far for work are in the region of £2500 - £3000. I have a clean insurance history and protected no claims bonus. 

I was thinking of getting it fixed and pay for it myself as I believe going through insurance just won't be worth it and the rise in premiums will be more.

Anyone been through similar experience, all advice welcome.

Thanks in advance

facade

If the cost is £3000 and you have protected no claims then the rise in premiums would have to be more than £600 a year for the next 5 years to make it cost effective to pay yourself.

The_Palmist

I get the maths, my question was around is the insurance likely to go up by so much. I know no one can give me exact answer, I am more of a general guidance and experiences of similar claims.

DullGreyGuy

The_Palmist said:

We damaged our car while reversing in a car park, no third parties were involved and the damage is to car only.

What did you damage it on if there were no third parties? Unless you own the carpark?

Insurance is normally calculated on percentages, it'd therefore be helpful to know what your current annual premium is? Are you insured on any other vehicles?

In principle you should be declaring it on all your policies and so much of the impact will be felt if you claim or not... obviously most "forget" to mention things they fix themselves.

Car_54

Any increase in premiums is not an attempt to get the money back over a few years - they are well aware that you can (and probably will) go elsewhere. Rather it is a re-assessment of the risk you represent.

In my experience with a few 'at fault' claims over the years, the increases have never been particularly onerous.

The_Palmist

DullGreyGuy said:

The_Palmist said:

We damaged our car while reversing in a car park, no third parties were involved and the damage is to car only.

What did you damage it on if there were no third parties? Unless you own the carpark?

Insurance is normally calculated on percentages, it'd therefore be helpful to know what your current annual premium is? Are you insured on any other vehicles?

In principle you should be declaring it on all your policies and so much of the impact will be felt if you claim or not... obviously most "forget" to mention things they fix themselves.

Thanks, it was reversing on to a metal fence and I informed the warehouse who owns the fence, there really was no damage to the fence or any other third party.

Current premium is £750 and 8 yrs NCD.

Named driver on another vehicle.

The_Palmist

Car_54 said:

Any increase in premiums is not an attempt to get the money back over a few years - they are well aware that you can (and probably will) go elsewhere. Rather it is a re-assessment of the risk you represent.

In my experience with a few 'at fault' claims over the years, the increases have never been particularly onerous.

Thank you, I will give insurance a call and try the claims process.