advise on small accident

TripleAce

Hi,

i had a small accident this morning, first in 14 years driving ....not a big deal, just couldn't stop in time due to the ice and touched the other car, quite an old car....basically i caused 500€ damage to the door (no damage to my car). Now I just wonder, would it be cheaper to pay off this in cash or go through my insurance? If it was 200-300€ i would just hand the cash, but with 500€ i am not sure. Will my insurance quote be impacted for the next 5 years? Currently I pay 369€/year (have a small Punto).

Any advice would be very much appreciated

si_guru

Ask you insurance company what th premium would be if you claimed.. then decide based on that.

Also, what is your excess?

Plates

You should get a 2nd quote from your regular garage/mechanic (if you haven't done that already) to see if the repair can be done any cheaper. You should also check if your policy allows 1 claim without affecting your no claims bonus. A lot of policys do nowadays - and I'd be surprised if yours didn't with 14 years claims free.

biko

Tricky. I would pay this in cash rather than having to bother the insurance with it and blow all that NCB.
However you need to make sure the person won't come back after a few months and say, "oh, the collision also impacted on the chassis. I need another €2000 thanks".

Ring your insurer and ask. If you decide not to go though them they should understand and it won't affect the policy.

Eoin

Do excesses also apply to 3rd party payments?

Even with a protected no claims bonus, I'd still be inclined to pay it myself.

si_guru

Plates wrote: »

You should get a 2nd quote from your regular garage/mechanic (if you haven't done that already) to see if the repair can be done any cheaper. You should also check if your policy allows 1 claim without affecting your no claims bonus. A lot of policys do nowadays - and I'd be surprised if yours didn't with 14 years claims free.

but remember that the premium will still go up even if the NCB remains the same.

Plates

si_guru wrote: »

but remember that the premium will still go up even if the NCB remains the same.

Didn't happen with my policy last year.

jpfahy

Don't hand over cash without getting a witnessed signature on a disclaimer that it's 'in full and final settlement...' They could take your 500 and then later put in a claim for whiplash against you. This has happened many times. Be very careful.

si_guru

Plates wrote: »

Didn't happen with my policy last year.

Did you make a claim?

si_guru

jpfahy wrote: »

Don't hand over cash without getting a witnessed signature on a disclaimer that it's 'in full and final settlement...' They could take your 500 and then later put in a claim for whiplash against you. This has happened many times. Be very careful.

Very good point!

Plates

si_guru wrote: »

Did you make a claim?

Yes - for €1,500

Eoin

si_guru wrote: »

but remember that the premium will still go up even if the NCB remains the same.

Not necessarily.

TripleAce

Hi guys, thanks for the advices - i forgot about the excess point

Anyway I think I will call my insurance tomorrow and take it from there - I just changed insurance 2 weeks ago! If they say they would increase the insurance next year then I will pay the guy in cash but will go through my mechanic first!

Thank you again for your help!

si_guru

TripleAce wrote: »

Hi guys, thanks for the advices - i forgot about the excess point

Anyway I think I will call my insurance tomorrow and take it from there - I just changed insurance 2 weeks ago! If they say they would increase the insurance next year then I will pay the guy in cash but will go through my mechanic first!

Thank you again for your help!

have you paid in full? If you are on installements they might also demand you pay up first too! bummer i know.

Tipsy Mac

If you can get it all done for €500 and end of story pay if off yourself, if it's over €1,000 go through the insurance. You will have to pay the first €250-€500 excess yourself if it goes through the insurance.

flamegrill

I wouldn't part with a penny directly. Tell your man/woman that you'll have their car repaired for them. That way they can't come back and say that they got no money from you and put a claim through your insurance.

As others have said as an alternative, have a Garda or an independent witness sign a document saying you've handed over money and that this covers your liability in full.

si_guru

I would not say "liable".. say it "fully repairs the car without liability"... I think insurance companies say that on 3rd party claims.

What ever don't worry about it... it's just a metal box that can be fixed.