Another Claim or Self-Repair Question

adamapple

I stupidly hit a low bollard, damaging the bumper and wing. I've been quoted an estimate of £1,000 to repair the damage, using used parts. What threshold would you use to judge if claiming through insurance is worth it. Excess is £300

GrumpyDil

Depends upon value of the car. If my car needed that kind of money spending on it, it would be an immediate write off but probably not my wife's s car. 

itsthelittlethings

I think you’re still supposed to declare it to insurance.

huckster

Yes you are supposed to report any incidents and accidents, but if it does not involve third party and you have not damaged third party property, then it is up to you. I think a lot of people would not bother.

If you claimed on Insurance, if say you had to pay 30% extra each year for 3 years (presuming no other previous or future claims), that would give you a rough idea. 

Also if you claimed, there would be accident damage recorded and this may affect cars value?

eschaton

huckster said:

Yes you are supposed to report any incidents and accidents, but if it does not involve third party and you have not damaged third party property, then it is up to you. I think a lot of people would not bother.

If you claimed on Insurance, if say you had to pay 30% extra each year for 3 years (presuming no other previous or future claims), that would give you a rough idea. 

Also if you claimed, there would be accident damage recorded and this may affect cars value?

At least you have a disclaimer in your signature as you’re talking rubbish. You also need to declare accidents for 5 years for insurance purposes. 

wongataa

eschaton said:

You also need to declare accidents for 5 years for insurance purposes. 

The time period depends on the insurer.  I have seen ones that only ask for three years back.

eschaton

wongataa said:

eschaton said:

You also need to declare accidents for 5 years for insurance purposes. 

The time period depends on the insurer.  I have seen ones that only ask for three years back.

Every comparison site asks for 5 years. 

The ones you have seen for 3 years must be odd exceptions as I’ve never seen any. 

MyRealNameToo

huckster said:

Yes you are supposed to report any incidents and accidents, but if it does not involve third party and you have not damaged third party property, then it is up to you. I think a lot of people would not bother.

If you claimed on Insurance, if say you had to pay 30% extra each year for 3 years (presuming no other previous or future claims), that would give you a rough idea. 

Also if you claimed, there would be accident damage recorded and this may affect cars value?

A lot dont bother but then some get unstuck later when making a claim they let slip about the undeclared incident. Have know some landed with 5 figure bills (first digit wasnt a 1 either) for failing to declare but then admitting to it later.

Only if the vehicle is a total loss is there any public record, the OP is also talking about a budget repair with secondhand parts which is more likely to reduce the vehicles value than an insurer paid for repair with new parts and proper blending of paint etc.