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 Post subject: Car insurance issues.
PostPosted: Thu Sep 19, 2013 8:52 pm 
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This is a really odd situation, but I'm hoping someone can help me out.

Yesterday I rear ended someone in a traffic jam. I barely caused any damage to their car, but mine was a total state. I contacted my insurance company, and they arranged for the car to be recovered as it couldn't be driven. They had it taken to a recovery firm's storage unit. Today I phoned them up and I've been informed that due to the age of the car (15 years) and the relative low value (less than £5K) they wouldn't entertain the prospect of mending the car, but would instead have it broken and pay me the money. I have spoken to the person whose car I hit and he is happy for me to pay for any damages directly, without getting insurance companies involved. My car is now in a lock up waiting to be collected and taken to a breakers yard. My question is this, can I cancel my claim and get the car back to have it repaired by someone I know and trust? I appreciate that insurers might be different but I just wondered if anyone else has any experience with this.

Thanks.


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PostPosted: Thu Sep 19, 2013 9:00 pm 
King of the Skip Monkeys
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I did the same with an old SD1 and bought it off the insurers (Lancaster). It will always be cat c/ d write off though


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PostPosted: Thu Sep 19, 2013 9:15 pm 
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Until the insurers pay out its your car to do as you like with. You'll likely have to pay for the recovery and storage though, and now details of the mishap are on the Motor Insurers Database whether or not anyone claims you'll get stiffed next renewal.


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PostPosted: Thu Sep 19, 2013 10:13 pm 
Special Retro Guru
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markwashington wrote:
This is a really odd situation, but I'm hoping someone can help me out.

Yesterday I rear ended someone in a traffic jam. I barely caused any damage to their car, but mine was a total state. I contacted my insurance company, and they arranged for the car to be recovered as it couldn't be driven. They had it taken to a recovery firm's storage unit. Today I phoned them up and I've been informed that due to the age of the car (15 years) and the relative low value (less than £5K) they wouldn't entertain the prospect of mending the car, but would instead have it broken and pay me the money. I have spoken to the person whose car I hit and he is happy for me to pay for any damages directly, without getting insurance companies involved. My car is now in a lock up waiting to be collected and taken to a breakers yard. My question is this, can I cancel my claim and get the car back to have it repaired by someone I know and trust? I appreciate that insurers might be different but I just wondered if anyone else has any experience with this.

Thanks.


As to your question, emphatically yes.

It's YOUR car - it doesn't belong to your insurers, so you get to decide - just make sure you make that clear to them in good time.


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PostPosted: Sat Sep 21, 2013 9:02 pm 
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I pretty sure this accident will be registered on your insurance regardless if you make a claim or not, assuming you have spoken to them about it. So next year your insurance is going to go up if you decide to claim or not.

If you have no claims protection it might be worth considering making the claim, getting your car written off then buying it back for the scrap value (£250?). You can then repair the car yourself (if repairable) have it tested and get it back on the road.

You would receive the market value of the car minus the scrap value. Plus they will take care of the 3rd parties car and cover the storage costs. You would need to pay for the car to be collected from the storage if it can not be driven away.

If you don't claim you have the costs of the car repair, the cost of the 3rd parties car repair, storage costs, transport from storage, and increased insurance next year.

I think its unlikely that not claiming will save you any money.


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PostPosted: Sat Sep 21, 2013 9:39 pm 
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My 2p,

If the insurers are aware of the collision, it will cost you. You may have options to buy the car if they write it off but that will be at their discretion.

You are in the unfortunate position that they know, you are legally bound to tell them but i have seen occasions where repairs are paid for in cash without insurers knowing.

Insurers are great - they can shaft you from every direction!!! Does anyone love them?

Speak nicely to them and hope you get someone who understands your situation and see what they come up with.

On the 'no claims protection' front - i am aware of a guy who wrote off a brand new car within a week of purchasing it. He thought it would be fine as he had protected no claims. He got a new car and when his renewal was due - 11 months later, the quote was huge. He contacted the insurers and told them about the protected no claims - they said he still had 60% no claims - he asked why the quote was huge and they told him that his premium had been loaded due to the accident. So - 60% of a massive premium is still a huge number. (i hope that makes sense).

Good luck,

Richard

p.s. it is hard writing about insurers without swearing!


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PostPosted: Sat Sep 21, 2013 10:28 pm 
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Yep, any accident your fault or not, claim or not, will increase your renewal costs assuming the accident is reported, keeping your no claims will help but it will still go up next year.

Like wise for the chap you ran into! This is probably the only reason he would entertain a fix outside of the insurers.


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PostPosted: Sat Sep 21, 2013 10:56 pm 
Special Retro Guru
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dan smith wrote:
Yep, any accident your fault or not, claim or not, will increase your renewal costs assuming the accident is reported, keeping your no claims will help but it will still go up next year.

Like wise for the chap you ran into! This is probably the only reason he would entertain a fix outside of the insurers.


Whilst I agree that any accident, claim, or not, fault or not, tends to increase your base premium (something that seems that people who are considered non-fault in accidents are often blissfully unaware of, as they may have scant disregard for how much a claim will be in total...) - but all the same, there will be some difference between insurers being merely aware of an accident, and a sizable claim - the value does matter.


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PostPosted: Mon Sep 23, 2013 5:36 pm 
retrobike rider / Gold Trader
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Neil wrote:
dan smith wrote:
Yep, any accident your fault or not, claim or not, will increase your renewal costs assuming the accident is reported, keeping your no claims will help but it will still go up next year.

Like wise for the chap you ran into! This is probably the only reason he would entertain a fix outside of the insurers.


Whilst I agree that any accident, claim, or not, fault or not, tends to increase your base premium (something that seems that people who are considered non-fault in accidents are often blissfully unaware of, as they may have scant disregard for how much a claim will be in total...) - but all the same, there will be some difference between insurers being merely aware of an accident, and a sizable claim - the value does matter.


Yes, it will be an accident with a zero cost value against it until the 3rd party chucks in a personal injury claim that is.......

As for the car it's yours until they pay out and if you don't claim it's yours to do with as you wish. Not sure what history of CAT would be applied to it though if any as theoretically it wouldn't be any although insurers may stick a CAT D on it to be safe.

Carl.


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