Is there any need for me to inform my insurance company about the accident?

roundcorner

If after a car accident, I privately pay the other driver the cost of repairing his car, is there any need for me to inform my insurance company about the accident?

Henry Ford III

roundcorner wrote: »

If after a car accident, I privately pay the other driver the cost of repairing his car, is there any need for me to inform my insurance company about the accident?

Yes there is.

davo2001

Henry Ford III wrote: »

Yes there is.

Why?

Harry Palmr

Because you crashed into someone. Like it or not it's an indicator of competence. And it's the law, a policy will be made null and void if it's discovered at a later point. Were the Garda involved was the other car owners insurers informed as far as you know?

Or is this a hypothetical

Auguste Comte

davo2001 wrote: »

Why?

Because its part of the terms and conditions that you agree to when you take out a policy.

Yes, because the other person may eventually claim for, say, personal injuries.

Where I worked we had driver that damaged another vehicle. We informed our insurance company and paid to have the other driver's car fixed ourselves. Approx. €1k.

The insurance company recorded the incident. Called us about a month later asked if there was any update and we said no, and they said they'd close it. No effect on future policy quotes.

Henry Ford III

davo2001 wrote: »

Why?

Part of your contracts t's & c's.

Whilst it might make no difference whatsoever for a small tip, what might a prudent insurer do at renewal if there were a number of small tips?

Eggs For Dinner

You must inform your insurance company of any incident which may give rise to a claim. As someone said, it is to protect you in case an injury claim follows in the next few years.

If you do not inform your insurers, they can cancel your policy if the consider your actions have prejudiced their position. Contrary to popular folklore on this forum, I’ve yet so see an insurer penalize anybody’s premium where an incident has cost them nothing

Marcusm

Eggs For Dinner wrote: »

You must inform your insurance company of any incident which may give rise to a claim. As someone said, it is to protect you in case an injury claim follows in the next few years.

If you do not inform your insurers, they can cancel your policy if the consider your actions have prejudiced their position. Contrary to popular folklore on this forum, I’ve yet so see an insurer penalize anybody’s premium where an incident has cost them nothing

Just to comment on this point, I have received confirmation in writing from my insurer that the fact that I had an incident in respect of which I made a private settlement without acknowledging responsibility will NOT be taken into account in setting future premium levels.

Eggs For Dinner

Marcusm wrote: »

Just to comment on this point, I have received confirmation in writing from my insurer that the fact that I had an incident in respect of which I made a private settlement without acknowledging responsibility will NOT be taken into account in setting future premium levels.

Exactly, you complied with your policy conditions by reporting it and your insurers acknowledged there is no impact on your policy

Seth Brundle

Harry Palmr wrote: »

Because you crashed into someone. Like it or not it's an indicator of competence. And it's the law, a policy will be made null and void if it's discovered at a later point. Were the Garda involved was the other car owners insurers informed as far as you know?

Or is this a hypothetical

What law?

brazilianlips

Harry Palmr wrote: »

Because you crashed into someone. Like it or not it's an indicator of competence. And it's the law, a policy will be made null and void if it's discovered at a later point. Were the Garda involved was the other car owners insurers informed as far as you know?

Or is this a hypothetical

The Garda were not involved. The other car owners insurers were informed.

whomitconcerns

You always need to tell them. And just for bonus points, in the UK it does count against you as 'you are statistically more likely to have another accident even if no fault"

This is not the case in Ireland.

NUTLEY BOY

davo2001 wrote: »

Why?

STATUTE.

If the accident happened in a public place the user of the vehicle is obliged to notify the insurer under RTA 1961 S. 72.
Link http://www.irishstatutebook.ie/eli/1961/act/24/section/72/enacted/en/html#sec72

CONTRACT.

You are obliged to notify the incident under contract.
There will be a notification condition in the insurance contract.

You will also find a condition that prohibits negotiation of any other party's claim against you without insurer's permission.

Questions of responsibility for the accident, settling the other party's claim without prejudice and so on do not nullify the requirements to notify.

NON-DISCLOSURE.

Any accident will have to be declared eventually at either the next renewal or if proposing to a new insurer.
The duty of disclosure revives at every renewal of an existing policy.
The duty of disclosure exists at every request for a quotation from a new insurer - subject to any time limits relating to previous accidents.
Failure to disclose an accident probably constitutes non-disclosure of a material fact.
Non-disclosure can cause any subsequent motor insurance to be voidable at the insurer's option once the accident is discovered.
That, in turn, can create a further world of grief in obtaining insurance cover.
Voiding of a motor insurance policy becomes a new material fact of itself that also has to be declared.

In short, as others have stated repeatedly over these threads, declare it.