Arsehats - had an accident last night - question around insurance

[DeaconD]

So, Had an accident - first ever on road. bugger.

My cars totalled and his car is totalled - his car is worth about 1500 quid.

I'm 3rd party fire and theft, ive got 10 years no claims but i don't think its protected. im 27 and have a clean licence .

What gonna work out best - leave it to the insurance company they sort and I take the rimming in increased premiums.

OR what ive been thinking is I buy his car ( hasn't been reported yet ) and get him to sign some kind of document to say hes fine and takes this as full and final payment and he has no personal injury.

Is there such a document ? is it worth me doing it or do you think that my premiums wont be too loaded? Im not sure what to do. what document could stop him taking the money then claiming anyway ? he seems quite sound but he could be a right b*****d if he wants to be.

Cheers all

 

[ThomasBrentnall]

Who's fault was it? And why are you not fully comp? :S

 

[DeaconD]

Never been fully comp, never bothered the cars worth nothing. Accident was my fault, he was speeding but nobody can take that into account because its his word against mine

 

[Stefan.]

As above.

 

[George182]

Do it through insurance IMO

 

[Dave..]

Insurance. That's what it's there for.

 

[skyinsurance]

A claim isn't the end of the world, even if you do not have protected NCB at 9 years (maximum) you'll be put back to 3 years. I cannot see it as being cost effective buying the £1500 car you have just crashed into.

 

[sam JFM]

A claim isn't the end of the world, even if you do not have protected NCB at 9 years (maximum) you'll be put back to 3 years. I cannot see it as being cost effective buying the £1500 car you have just crashed into.

So he wont loose all 9 years discount he will just loose 6 years?

 

[Gally]

It's never going to be cost effective to buy the car. Also TPFT is mental imo.

As is not protecting 10 years no claims!

 

[_Tom]

I'd go through insurance.

Seems mad to be 3rd party. Every time I've checked the cost difference between 3rd party and full comp its been next to nothing. Sometimes as little as a tenner different.

 

[Ol’ Tarby]

I'd go through insurance.

Seems mad to be 3rd party. Every time I've checked the cost difference between 3rd party and full comp its been next to nothing. Sometimes as little as a tenner different.

Was just about to say this. TPFT is so 1990

Whenever I've done quotes its been pounds of difference rather than hundreds difference, sometimes more expensive. Don't know why people do it

 

[Eliganza]

At 27 years old, 1 claim isn't going to completely cripple your insurance. Go through your insurance, it sure as hell won't cost you £1500 at renewal.

 

[Deeg]

I'm astounded that anyone would not protect 9 years NCB, utterly mental.

 

[DB.]

Even if a car is worth nothing, the cost saving between TPFT and Fully comp is very small in most cases. Idiotic decision!

 

[skyinsurance]

So he wont loose all 9 years discount he will just loose 6 years?

Correct

 

[sam JFM]

Correct

How come? excuse my ingnorance

 

[skyinsurance]

How come? excuse my ingnorance

NCB will be stepped back, not lost. This is standard industry practice..

 

[msremmert]

I'm astounded that anyone would not protect 9 years NCB, utterly mental.

This.

 

[Gally]

This is another highlight of people not reading policies. Why would you think you'd lose 9 years?

 

[DB.]

This is another highlight of people not reading policies. Why would you think you'd lose 9 years?

Guilty, I thought you would too lol

 

[Ol’ Tarby]

Me too lol its a 'no claims' bonus. Make a claim, lose it lol that's what I always thought

 

[sam JFM]

I suppose its not that suprising - everything to do with NCD makes little sence lol

 

[Ianboom]

Apologies if i'm wrong, but for protected ncb you have to be fully comp?
Perhaps the policy was tpf&t because of the perceived cost saving?

As previously posted, i found naff all difference between tpf&t and comp-same on my bike policy too! Thought it was 'cos i'm an older git!

 

[M26]

Me too lol its a 'no claims' bonus. Make a claim, lose it lol that's what I always thought

That's what would make logical sense, however insurance doesn't make logical sense. Ever.

 

[BustaMOVEs]

You do know at tpft you're not going to recive nothing for your car as it was your fault?

 

[lemonnobby]

Is it 6 yrs now you lose. i lost 3 yrs when i had a accident.

 

[DrR]

Oddly, I've had two claims, each time my premium has gone down after! Granted different cars but still.

 

[Jack!]

Sorry to hijack slightly - people saying not protecting 9 years is madness, at how many years would you say it's worth protecting?

 

[DrR]

As soon as you're able to IMO.

 

[Rubicon_]

Sorry to hijack slightly - people saying not protecting 9 years is madness, at how many years would you say it's worth protecting?

As soon as you can so 5 I think it is.

 

[Addicted]

Is it 6 yrs now you lose. i lost 3 yrs when i had a accident.

This is what I'm confused by, I thought you could only lose a max of 3 years?

 

[lemonnobby]

This is what I'm confused by, I thought you could only lose a max of 3 years?

Maybe it depends who you are with. i was gutted cos 2 months later i would have had 5 yrs.
which is when you can protect them.

 

[BustaMOVEs]

Taken off the DL website
http://faqs.directline.com/help/car-insurance/loose

 

[Jack 172]

I'd go through insurance.

Seems mad to be 3rd party. Every time I've checked the cost difference between 3rd party and full comp its been next to nothing. Sometimes as little as a tenner different.

Ive only been insured for a few years an because of costs I have been 3rd party, but this year it was actually cheaper to be fully comp, mad how it works