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Small accident, pay private or go through insurance?

allanmb Jan 3, 2020

  1. allanmb

    allanmb Registered User

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    I had a small bump a while back and the cost of repairs totalled approximately £375 for both cars - mainly just paintwork. I have notified the insurance company and I have protected NCD. My question is, if I claim through the insurance will this £375 be bloated with fees and therefore I will end up paying my excess of £500? Basically I want to know if it is worth paying the bill privately?
     
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  3. RS03_SEN

    RS03_SEN Registered User

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    Will you have to notify future insurance companies of this claim even if your NCB does stay intact?
    I wouldn't want an at fault claim on my record.

    Sent from my GM1913 using Tapatalk
     
  4. allanmb

    allanmb Registered User

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    Yes it will have to be declared to all inusrance companies for the next 3-5 years depending on their policy
     
  5. RichardT

    RichardT Registered User

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    Are you understanding your excess correctly. If you claim for a £375 bill you will pay it all and anything else upto £500.
    You have correctly notified the insurance company, but you would be mad to claim as long as the estimate for repairs is correct.
     
    Adam14 likes this.
  6. RS03_SEN

    RS03_SEN Registered User

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    I'd try to avoid that then. Surely they'll adjust your next premium accordingly even if your NCB is still at 10 years or whatever.

    Sent from my GM1913 using Tapatalk
     
    no_idea likes this.
  7. allanmb

    allanmb Registered User

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    I have already notified the insurance company so that is not an option now
     
  8. allanmb

    allanmb Registered User

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    Do you know this for sure? Or just a hunch? If that were to happen then I would obviously just pay privately
     
  9. TYb

    TYb Registered User

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    You did the right thing notifying them, get your confirmed quotes then decide if the cost is worth claiming for, you may find once bumpers etc are moved there is further damage underneath.

    Either way this is an opportunity for your insures to tweak next years premium but you have the opportunity to look around at renewal.
     
  10. HertS3

    HertS3 Registered User

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    You're a decent fellow notifying them, I say this as a person who works in insurance lol

    My missus had a non-fault bump with a young guy a while ago, we sorted out privately (other side covered our costs) as below excess and insurance companies not involved.

    The £500 excess means that you are responsible for the first £500 of any claim, so you can't actually claim if the costs you advised in total for both sides is less than that.
     
    allanmb likes this.
  11. RichardT

    RichardT Registered User

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    It is a legal requirement, so yes you have to notify them.
     
    TYb likes this.
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  13. HertS3

    HertS3 Registered User

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    Of course it is, but the proportion of people who actually do that must be very small indeed
     
  14. RichardT

    RichardT Registered User

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    For claims as small as this you are probably correct. But it’s likely that the other party notified their insurance company - so there would be a trail that could bite back later if there is a serious claim.
     
  15. TYb

    TYb Registered User

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    Exactly and if the other party then get tempted by compensation then not declaring could end up with insurance being made void etc, not worth the risk for saving a couple of quid.
     
    KenL likes this.
  16. HertS3

    HertS3 Registered User

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    True - I made sure that the other side in our case weren't doing that (wouldn't make sense for them to as the kids was 18/19 so insurance would cost a fortune even without a claim)
     
  17. Audi Ashley

    Audi Ashley Registered User

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    I thought the whole point of going privately was not to go through the insurace? Not even telling them as this still effect the premuim regardless of NCD. Maybe I have missed something.
     
    pburv likes this.
  18. HertS3

    HertS3 Registered User

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    That would be my understanding too...No point settling privately if you told insurer about the claim, unless it's below the excess as mentioned above. However, as mentioned above, if the other side notify their insurer (and give your details) but you don't notify your insurer then you could be in trouble. Have to be certain that neither party contacts their insurer!
     
  19. pburv

    pburv Registered User

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    My thoughts also.. As mentioned though you need to be sure either party don't mention anything to insurance companies.
     
  20. eribaMotters

    eribaMotters Registered User

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    It's a catch 22 situation. You are legally obliged to inform your insurance company of an acident you are involved in, whether it is an at fault or not.
    In the event you do not make a claim, or the other parties insurance cover the costs then your premium could still go up.
    It's a case of heads you win, tails the insurance company wins. ie, your stuffed.

    Colin
     
  21. TYb

    TYb Registered User

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    You have to tell your insurer of any accident/incident otherwise your policy can be voided.

    You will get less of an increase if then chose to settle privately as the insurers wouldn’t have incurred any cost.
     
  22. RichardT

    RichardT Registered User

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    There’s two elements to consider. If you don’t make a claim, then it will not affect your no claims bonus. But an accident can still affect you basic premium.
    Although, for a minimal claim like this I wouldn’t expect a reputable insurance company to hike the premium. But unfortunately they are a law unto themselves.
    On the positive side, a couple of years ago I drove over a cast iron bollard. It did about £3,500 worth of damage. But my insurance company did not increase the premium next time. And because I had protected NCD, that wasn’t affected either. Happy days :footy:
     
    KenL likes this.
  23. HertS3

    HertS3 Registered User

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    Insurance is good when it works (keeps me afloat anyways!) :chuncky:
     

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