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Cost of claim impact on renewal price & loss of no claims
ernie-money
Posts: 837 Forumite
Hi all, hoping someone can enlighten me as to how this works please!
Following a fault accident, I am waiting for the other party to give me a cost for repair of his car so as not to have to claim on my policy. I have found somewhere to have my car fixed. My question is - if I pay to have my car repaired and the other party then decides that he wants to go through the insurance after all, will the claim for just his car have the same effect on my policy cost going forward as if the claim included my car as well?
Juts to explain, the reason I want to go ahead with my car is because I've found someone who has the part I need going cheap & I don't want to miss it, while I'm waiting for the guy to get a quote for his car. If his quote is too expensive though and I'll still get hit with the same premium increase if it goes through as a claim, then I might as well get the insurance to sort mine too...
Hoping someone will have a bit of insight into how these things work!
Following a fault accident, I am waiting for the other party to give me a cost for repair of his car so as not to have to claim on my policy. I have found somewhere to have my car fixed. My question is - if I pay to have my car repaired and the other party then decides that he wants to go through the insurance after all, will the claim for just his car have the same effect on my policy cost going forward as if the claim included my car as well?
Juts to explain, the reason I want to go ahead with my car is because I've found someone who has the part I need going cheap & I don't want to miss it, while I'm waiting for the guy to get a quote for his car. If his quote is too expensive though and I'll still get hit with the same premium increase if it goes through as a claim, then I might as well get the insurance to sort mine too...
Hoping someone will have a bit of insight into how these things work!
I don't think I can hang on til Friday...
0
Comments
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There will be a more technical answer then this but ultimately a claim is a claim, unless the cost gets absurdly high it should have minimal impact
It then becomes a question of is it worth you claiming?
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As long as you're reported the accident to your insurance company you can proceed with them dealing with it or yourself.I’m a Forum Ambassador and I support the Forum Team on Debt Free Wannabe, Old Style Money Saving and Pensions boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySavingExpert.
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The only difference will be there is no NCD to pay on a TP only claim. The impact on your policy will be the same if its TP only or TP + FP1
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