Do you pay the excess if a 3rd party claims against you?

[kramer81]

My car was slightly damaged in an accident and I would rather fix it myself with spare parts as it works out much cheaper than paying the �150 excess to my insurance company. However, as it is possible a claim will be made against me, will I have to pay my excess anyway?

[woodchopper]

If a claim is made against you - yes, you will and your insurance premium may go up as well at the next renewal.

[JB]

Depends what type of excess you have. The most common is an AD (accidental damage) excess which relates to damage on your car, but some companies do impose an AS (all sections) excess. Check with your insurance provider, and if it is AD and you repair it yourself, you won't have to pay an excess, but as kramer81 says, a claim against you would result in increased premium at renewal (unless you have protected no claims bonus)
Hope this helps!

[kramer81]

Thanks

[sifellis]

An accidental danage fire & theft xs is just that. You will NOT pay an xs if someone claims against yourself and you don't claim on your insurance for damages to your own vehicle. If you claim for either damage to your own car, or if you claim for fire and theft you will pay the xs that's applicable on your policy.

If you repair your car yourself and the other person doesn't claim then if you do or don't inform your insurers (you don't have to) then it wouldn't affect the price of your insurance.

Also...this myth that protected no claims discount stops your prices from rising at the renewal is utterly bollox. When someone applies for a quote the policy is worked out on crime rates, theft rates, accidents in the are, deirability of the car, your claims and your motor convictions. My 'base premium' was �1000. They will then deduct whatever no-claims 'DISCOUNT' you have....in my case 65% and they give me my price of �350.

If you claim and you have protected no claims discount, your 'base' premium will rise but you will still be able to deduct the amount/percentage discount you have to form your new price.

I hope this helps....i'm a car insurance underwriter by the way.

[kramer81]

Thanks. Thats what I thought/hoped was true about the excess.

How come you are always told you have to inform your insurance of any accident? If it is in your policy could they not use it as an excuse to invalidate your policy?

How do you find out your base premium?

[sifellis]

I never told my insurer when i wrote my car off. It didn't concern anyone apart from myself and the tree that came out of nowhere.

You could ask the insurer at the quote/renewal stage but they aren't obliged to tell you, they don't like saying large numbers you see....it's all in the mind. Easier still work it out yourself, if you premium is �500 and you have 3yrs no-claims discount which is 50%...your base premium is �1000.

Most insurers

1yr = 30%
2yr = 40%
3yr = 50%
4yr = 60%
5yr = 65%

5yr = 70% if over 50yrs old.

Some insurers do deviate slightly but this is pretty much industry standard