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Paying an insurance claim

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  • 27-03-2019 4:16pm
    #1
    MarioLuigi
    Closed Accounts Posts: 54 ✭✭


    I of course scraped my neighbours parked car driving into my space last night. Took full responsibility and the neighbour had some random "mechanic" show up demanding €500 cash asap to fix this. Of course I said balls to that so called my insurance and told them my story and gave the neighbour the claim number.

    My question is as I have 7 years no claims and really don't want to lose that. Can I tell my insurance (AXA) that I'll pay them in full for all repair costs and keep my no claims discount unaffected?


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    #2
    Mrcaramelchoc
    Registered Users Posts: 1,795 ✭✭✭Mrcaramelchoc


    I could be wrong but if you didn't want it to affect the no claims bonus you shouldn't have involved the insurance.you should have coughed up to your neighbour.


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    #3
    MarioLuigi
    Closed Accounts Posts: 54 ✭✭MarioLuigi


    That was my thought originally but I was non too plussed with some random guy giving a quote out of thin air and demanding the cash immediately. For all I know he could take that cash and not get the repairs done, or take the cash and then also claim on insurance as I would have no proof or paperwork.


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    #4
    endacl
    Registered Users Posts: 22,311 ✭✭✭✭endacl


    €500 was a cheap price if a panel needed any straightening and paint matching. I’d have bitten his hand off.

    You’ve shot yourself in the foot.


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    #5
    FGR
    Registered Users Posts: 2,455 ✭✭✭FGR


    Plus you'll be responsible for paying the excess out of pocket in addition to the insurance payout.

    One option could have been to get the quote in writing and pay the mechanic/panel beaters directly in exchange for a receipt.


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    #6
    MarioLuigi
    Closed Accounts Posts: 54 ✭✭MarioLuigi


    FGR wrote: »
    Plus you'll be responsible for paying the excess out of pocket in addition to the insurance payout.

    One option could have been to get the quote in writing and pay the mechanic/panel beaters directly in exchange for a receipt.

    This was my suggestion but they wouldn't agree to it and wanted cash immediately, felt like a scam to me.


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    #7
    MarioLuigi
    Closed Accounts Posts: 54 ✭✭MarioLuigi


    endacl wrote: »
    €500 was a cheap price if a panel needed any straightening and paint matching. I’d have bitten his hand off.

    You’ve shot yourself in the foot.

    What would have happened if I gave him €500 cash and the next day said you never gave me anything, I want to go through insurance?


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    #8
    98q76e12hrflnk
    Closed Accounts Posts: 1,204 ✭✭✭98q76e12hrflnk


    MarioLuigi wrote: »
    This was my suggestion but they wouldn't agree to it and wanted cash immediately, felt like a scam to me.

    You did the right thing. I would have done the same. Could claim again if you gave them cash.


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    #9
    rocky
    Registered Users Posts: 2,961 ✭✭✭rocky


    MarioLuigi wrote: »
    That was my thought originally but I was non too plussed with some random guy giving a quote out of thin air and demanding the cash immediately. For all I know he could take that cash and not get the repairs done, or take the cash and then also claim on insurance as I would have no proof or paperwork.

    They don't have to get the repairs done, you caused 500 worth of damage, their business what they do with the money...


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    #10
    MarioLuigi
    Closed Accounts Posts: 54 ✭✭MarioLuigi


    rocky wrote: »
    They don't have to get the repairs done, you caused 500 worth of damage, their business what they do with the money...

    I'm no mechanic I don't know much about cars and it may well cost more than €500 to fix, but am I supposed to take the word of some random friend of this guy as the advice of a qualified person?


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    #11
    endacl
    Registered Users Posts: 22,311 ✭✭✭✭endacl


    You went the expensive route. Sure, they could come back looking for more, at which point you deny it happened at all.


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    #12
    MarioLuigi
    Closed Accounts Posts: 54 ✭✭MarioLuigi


    Ultimately my question is can I pay AXA in full for the cost of the repairs and keep my no claims discount?


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    #13
    Eggs For Dinner
    Registered Users Posts: 2,982 ✭✭✭Eggs For Dinner


    AXA will allow you repay the outlay to keep your NCB and the policy excess only applies to own damage claims. This option is used by policyholders all the time. You did the right thing


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    #14
    MarioLuigi
    Closed Accounts Posts: 54 ✭✭MarioLuigi


    Eggs For Dinner wrote: »
    AXA will allow you repay the outlay to keep your NCB and the policy excess only applies to own damage claims. This option is used by policyholders all the time. You did the right thing

    AXA have since confirmed that this is correct, so thank you. I'm still waiting to hear what the final bill will be but it does show a slightly worrying disparity in the level of knowledge on motor insurance here.


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    #15
    Marcusm
    Registered Users Posts: 10,350 ✭✭✭✭Marcusm


    MarioLuigi wrote: »
    AXA have since confirmed that this is correct, so thank you. I'm still waiting to hear what the final bill will be but it does show a slightly worrying disparity in the level of knowledge on motor insurance here.

    You can do it; the insurance company can also take into account your propensity for causing damage and increase the base premium before applying the NCB, ie it may still cost you an increased premium.


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    #16
    Eggs For Dinner
    Registered Users Posts: 2,982 ✭✭✭Eggs For Dinner


    Marcusm wrote: »
    You can do it; the insurance company can also take into account your propensity for causing damage and increase the base premium before applying the NCB, ie it may still cost you an increased premium.

    That's not going to happen for a claim like this. Scaremongering for the sake of it. The OP asked if he could repay his claim to keep his bonus and he can. Insurers are more likely to take the approach that they have a client on their books with good moral hazard

    Whether you repay your insurers for a loss or deal with it directly yourself (not recommended), you are obliged under your contract to report it to your insurer. Therefore, your theory can be implemented by insurers in either event, but it doesn't happen in the real world


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    #17
    Marcusm
    Registered Users Posts: 10,350 ✭✭✭✭Marcusm


    Eggs For Dinner wrote: »
    That's not going to happen for a claim like this. Scaremongering for the sake of it. The OP asked if he could repay his claim to keep his bonus and he can. Insurers are more likely to take the approach that they have a client on their books with good moral hazard

    Whether you repay your insurers for a loss or deal with it directly yourself (not recommended), you are obliged under your contract to report it to your insurer. Therefore, your theory can be implemented by insurers in either event, but it doesn't happen in the real world

    I appreciate that you work in the insurance industry and I don’t. However, he increasing use of analytics and data mining with insurers will effectively mean it has been noted and will form part of the assessment as far as the computer is concerned irrespective of whether it is apparent to human folk!


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    #18
    phester28
    Registered Users Posts: 465 ✭✭phester28


    I recently saw a documentary on Insurance (uk) and even calling the insurance company for advise or clarification increased your base premium as you suddenly were in their eyes an increased risk. I know its mad.

    I am not convinced that even NCB have any real effect as I now pay 850 euro and have full NCB of 50% or maybe 60% either way that would indicate a base rate of 1700. But if there was a claim this base rate would jump to 2k or higher all else being equal.


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    #19
    NUTLEY BOY
    Registered Users Posts: 2,344 ✭✭✭NUTLEY BOY


    Random thoughts ;

    OP is obliged under his insurance contract to report this to his insurers.

    OP is obliged under statute to report this to his insurers if it happened in a public place.

    OP is obliged under his insurance contract not to negotiate with a claimant.

    OP would be obliged to declare the accident to his insurers anyhow at renewal.
    If seeking a quote from a new insurer it would still have to be declared.
    Failure to declare this would be a misrepresentation which could render the policy voidable and that brings it's own problems.

    Private arrangements to settle outside the ambit of insurance can turn sour quite quickly especially if dealing with chancers or opportunists of which there are a goodly number these days :rolleyes:.

    IMHO never settle directly - leave it to your insurers.


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