Insurance experts?

[dickturpin]

Without saying too much on line...our car was hit whilst unattended and the culprit has admitted everything. Progressing matters through their insurance including hire car etc.
What concerns me is for the next 5 years we will have to declare a claim and whist we have been assured our no claims will be unaffected it doesn't stop the base premium being increased.
We also now have a car that presumably will be recorded as having a cat d repair which will reduce its value on the second hand market.
So am I faced with 5 years declaring an accident that could be affecting all my policies including the Fazer and can I claim against this hidden loss?

[pilninggas]

Whilst no two scenarios appear to be equal when it comes to motor vehicle insurance, from personal experience you will probably find it does not affect your premium. I had 2 accidents in 2009, neither of which was my fault. Using comparisons sites, I found the cost was the same declaring them or not - and of course declaring them when I actually needing insurance. The pivot questions are [1] did you lose all/part no claims? and [2] were you deemed at fault? if yes to either or both you could expect a hike, but the situation you have explain says no to both

As for your car, if it is repaired it is not a write-off, if the insurer writes it off, they will need to tell you and offer you opportunity to buy it back. Potentially you could lose of the value of the vehicle when you sell, since you will have answer yes, if a potential buyer asks if it has been damage-repaired, but providing it is done to a good standard and you keep all paperwork, I would think it would not be an issue (I bet 50% of cars on the road have had parking dents etc fixed, with no-one but the owner aware).

HTH

[tex]

It should only affect your premium if it was your fault, if you are claiming of there policy you should be Ok,  if it was stolen and you claimed , then it would go up, as you would claim of your policy

[dickturpin]

We have been assured it won't affect our ncb bit if the sneaky ins company load the premium before applying the ncd....

[BBROWN1664]

First of all, unless the car is written off, it won't be a Cat D and won't be recorded as such.

Now for the important part. Insurance companies are W@nkers. You won't lose any no claims so so you will still get your 50% or whatever discount if the other party has admitted liability.  You will however be classed as a higher risk as you obviously (their view not mine) park your car in risky locations so your premium will be loaded. As a result you will pay more for the next couple of years.

[richfzs]

Insurance companies are W@nkers.

[dickturpin]

@ B Brown....so I'm thinking I need to claim off the culprits insurers for my future increase in premiums...

[Punkstig]

@ B Brown....so I'm thinking I need to claim off the culprits insurers for my future increase in premiums...

You'd think you'd be able to, but it's not a figure that can be calculated, and as above- insurance companies are wankers, so they don't pay out for that!

[BBROWN1664]

This is the sort of claim when they start agreeing to go 70/30 because the incident wouldn't have happened if you hadn't parked there. 

Good luck with trying to get compensation though.

[dickturpin]

I agree with you about the insurance industry....hopefully no negotiations to get into....the car was on my private drive!

[chaz]

A friend, who had protected NCD was told that after atempted theft or her car a (cut a hole in the soft top) she would still have the same NCD but her premium would increase because it was a greater risk?

[BBROWN1664]

hopefully no negotiations to get into....the car was on my private drive

!

At least the person stopped and owned up. My Mrs car was hit while on out drive and the foccer drove off meaning we did lose no claims