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insurance question

  • 14-08-2009 3:39pm
    #1
    looking4advice
    Closed Accounts Posts: 232 ✭✭


    I was involved in an accident wheren the other party accepted liability. Am I obliged to accept the cost of repair from their insurance company or can I insist on cash?


Comments

  • #2
    oldyouth
    Closed Accounts Posts: 4,754 ✭✭✭oldyouth


    As long as they have agreed the cost of repairs with you and accepted, you should be paid in cash. If you were cliaming on your own insurance under the own damage section, they could insist on effecting repairs


  • #3
    vengeance52
    Registered Users, Registered Users 2 Posts: 1,526 ✭✭✭vengeance52


    looking4advice wrote: »
    I was involved in an accident wheren the other party accepted liability. Am I obliged to accept the cost of repair from their insurance company or can I insist on cash?

    Even though they accepted liability, make sure the incident is reported to the Garda, just to be on the safe side.

    I dont know if a company would pay cash out on a claim. It would usually be done by cheque.


  • #4
    timminytimtim
    Closed Accounts Posts: 4 ✭timminytimtim


    depending on the cost of the damage - you could also look for depreciation of 10% + car hire etc.
    dont forget to tell your insurer, just in case.
    thats my advice anyway - have had friends who got screwed after accidents that werent even their fault.


  • #5
    Random
    Closed Accounts Posts: 19,080 ✭✭✭✭Random


    vengeance52 wrote: »
    Even though they accepted liability, make sure the incident is reported to the Garda, just to be on the safe side.

    I dont know if a company would pay cash out on a claim. It would usually be done by cheque.
    The Gardai don't care. If there was nobody injured and there is no dispute over each others insurance details then it's just going to take up space in the Garda database.


  • #6
    danjo-xx
    Registered Users, Registered Users 2 Posts: 5,395 ✭✭✭danjo-xx


    Random wrote: »
    The Gardai don't care. If there was nobody injured and there is no dispute over each others insurance details then it's just going to take up space in the Garda database.


    yes but you should report it in order to have it on record in case you may have to envolve your own insurance company at a later stage if things backfire.

    You should also report it to your own insurance company, for same reasons.


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  • #7
    thebiglad
    Registered Users, Registered Users 2 Posts: 1,672 ✭✭✭thebiglad


    oldyouth wrote: »
    As long as they have agreed the cost of repairs with you and accepted, you should be paid in cash. If you were cliaming on your own insurance under the own damage section, they could insist on effecting repairs

    You are entitled to cash and I would expect they would be happy to settle with you on that basis...

    The reason they are happy is that the claim will be settled in full on date of issuing cheque, on occasion when a vehicle is submitted for repair additional costs become apparent, generally when vehicle is stripped down, they will avoid this risk (obviously it passes to you).

    Just be aware that the insurer is likely to settle with you net of the VAT, VAT is only incurred when repair is undertaken, you have no entitlement to seek VAT. They may agree that once you present a repair invoice they will then reimburse the VAT.

    Previous poster is correct concerning seeking payment for 'depreciation' generally 10% - 12% but it does depend upon the age of the vehice (usually needs to be under 5 years old) and also the extent of the damage (don't expect it for minor damages).

    Personally I think you are better to repair the car, if you simply pocket the repair cash now then it will catch up to you at some point. Will you be able to sell the car in the future? Is it possible it will fail an NCT?

    You can ask the insurer for €100 to €250 for 'inconvenience' if there is no personal injury claim. Also seek costs for any necessary days off work or travel expenses


  • #8
    Random
    Closed Accounts Posts: 19,080 ✭✭✭✭Random


    danjo-xx wrote: »
    yes but you should report it in order to have it on record in case you may have to envolve your own insurance company at a later stage if things backfire.

    You should also report it to your own insurance company, for same reasons.
    Would agree with your own insurance company but not the Gardai. I see no reason to report it to the Gardai if they didn't attend the scene, there is no one being prosecuted, etc. The Gardai don't care. It's up to the insurance companys to sort out the mess.


  • #9
    vengeance52
    Registered Users, Registered Users 2 Posts: 1,526 ✭✭✭vengeance52


    Random wrote: »
    Would agree with your own insurance company but not the Gardai. I see no reason to report it to the Gardai if they didn't attend the scene, there is no one being prosecuted, etc. The Gardai don't care. It's up to the insurance companys to sort out the mess.

    The Gardai may not care, but its useful to have a legal record of the incident of file with the Gardai.


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