Car insurance excess

[catherine198]

Have just had my first bump in my car (still bit shaky!) and have no idea what to do about car insurance. I am insured, but as a young driver have �150 compulsory excess and chose to pay �150 voluntary excess. The 'bump' was due to a lapse of attention at a roudabout, seeing the person in front move forward and presuming (I know I shouldn't) that they had gone onto the roudabout, and I was checking to the right for traffic so I could do the same. There was some scuffing and a possible shallow flat dent on the car in front's bumper, nothing on mine.

I know that people settle these things themselves, but if it was to go on the insurance and the repair was less than my excess, how does that work? Just trying to find out information before I call the other driver this evening - we were both a bit shaken and didn't really know what to do.

Another thing that might be useful is how costly ar these things? I really have no idea. Any help would be appreciated!

[rsd2525]

if the damage to the other car is less than �300 your insurance company wont want to know, i doubt if it is by the sound of it so get an estimate, cough up and dont let your insurance co know you had a bump

[inferno]

I may be wrong here, but I think the excess relates to damage to your car not the other driver's car.

[jake-the-peg]

The excess related to what your insurance company will pay for. ie they will not pay for the first �300 of any claim.

Even if the total cost of repairs is over �300 you may find it more profitable to cough up and keep quiet because you'll retain your no claims bonus and should you have another accident for which you need to claim you'd only have one claim on your record. (Insurance companies really hate quoting people with more than one claim a year).

Having said that you are meant to tell your insurance company about any accident even if there is no claim however many people "forget"

BTW going into the back of somebody at a roundabout is an absolute classic - an awful lot of people do it so don't beat yourself up about it too badly

[JudgeJ]

As inferno says, you will almost certainly find that the excess applies only to accidental damage to your own vehicle. Check your policy documents.

If this is so, it means that your insurers will pay all of any claim made against you by a Third Party.

Bear in mind, though, that if you do ask them to settle then you will not be entitled to a No Claims discount at the end of your first year. Knowing the cost of insurance for young drivers these days, this discount could be considerable.

Contrary to rsd2525's advice I would suggest that, whatever you decide, you do inform your insurers of the accident. You are almost certainly bound by the terms of your policy to do so. If you decide to settle the bill yourself simply make it clear to your insurers that you are providing details of the incident for information only as you are obliged to do.

This is unlikely to cost you anything. However, matters such as these sometimes have a habit of resurfacing some months later when the Third Party decides that he has suffered long term injury from (say) the effects of whiplash. If he does, and you have not reported the matter to your insurers, they will repudiate all liability. �300 will then be the least of your worries!

As in most things in life, honesty is usually the best policy.

[catherine198]

Thanks very much for all the answers - they've stopped me worrying so much about the whole thing! I hope anyone else finding this finds it as useful.

Many thanks.