Car Insurance claim

Speculator

Hi there,

My car was damaged by another driver, hit and run.

I'm going to have to claim from my own insurance which will affect my no claims bonus and premium.

I was in the garage yesterday and they told me that the job would cost me €3.5K if I decided to use new parts or €2.5k if I used second hand parts.

If I decide to go with the 3.5k rather then 2.5k will this have much of an impact on my premium. I was told that my premium will go up by the same amount no matter what the claim is. As Hibernian have a set structure. Is this correct?

Queen-Mise

Do you have bonus protection on your policy. If you do you can claim upto 3k without your premium being affected.
After that not sure.

fuelinjection

There is a special fund for hit-and-runs and uninsured drivers damaging your vehicle.
Go down the local Garda Station and report it so it is on record then tell your insurance company.
You won't have to claim through your own insurance policy, but you might have to pay for repairs out of your own pocket until the insurance pays you.

Speculator

Thanks for your replies, I've researched all avenues and this the only way I can go.

Can anybody clarify:
If I decide to go with the 3.5k rather then 2.5k will this have much of an impact on my premium. I was told that my premium will go up by the same amount no matter what the claim is. As Hibernian have a set structure. Is this correct?

thebiglad

Speculator wrote: »

Thanks for your replies, I've researched all avenues and this the only way I can go.

Can anybody clarify:
If I decide to go with the 3.5k rather then 2.5k will this have much of an impact on my premium. I was told that my premium will go up by the same amount no matter what the claim is. As Hibernian have a set structure. Is this correct?

At that level the impact wll be pretty much the same - just impact on no claims bonus.

Earlier poster mentioned no claims bonus protection - be aware that this only applied if you stay with Hibernian - i.e. if you had full bonus and it was protected then they will not reduce your NCD. If you change insurers now, or at any time in next 3 years you will have to declare the claim and Hibernian will submit your no claims discount proof as having 1 claim in last x years which will effectively result in new insurer not giving you the full NCD.

As for claim from MIBI - they will not accept a property damage only claim from a hit and run (unidentified) driver - the logic is that were they to do so then every person who drives their vehicle off the road or into collision with something would claim it was an untraced driver and seek to claim from MIBI. Of course MIBI would be able to inspect and deny most damages but the admin burden would be huge

From MIBI website
It is not always possible to claim compensation for vehicle or property damage under the MIBI compensation scheme. Where the offending vehicle is not identified there is no provision in the 1988 or the 2004 MIBI Agreements to recover losses for vehicle or property damage. The 2009 Agreement introduced compensation for vehicle or property damage against an unidentified vehicle where there are significant personal injuries arising from the same accident. See clause 7 of the 2009 agreement for comprehensive details off the scheme for Property Damage compensation

Claim from your insurance, any impact on premium is not going to be €3,500. Depending on how old your car is there is no problem with second hand or spurious parts - they are as good as the original. See if Hibernian would cut you some slack on NCB if you allow them to a cheaper repair - if they won't just have the manufacturer standard parts.

Just be glad you have comp insurance - without that you would be looking at repairing your own car yourself

Speculator

thebiglad wrote: »

At that level the impact wll be pretty much the same - just impact on no claims bonus.

Earlier poster mentioned no claims bonus protection - be aware that this only applied if you stay with Hibernian - i.e. if you had full bonus and it was protected then they will not reduce your NCD. If you change insurers now, or at any time in next 3 years you will have to declare the claim and Hibernian will submit your no claims discount proof as having 1 claim in last x years which will effectively result in new insurer not giving you the full NCD.

As for claim from MIBI - they will not accept a property damage only claim from a hit and run (unidentified) driver - the logic is that were they to do so then every person who drives their vehicle off the road or into collision with something would claim it was an untraced driver and seek to claim from MIBI. Of course MIBI would be able to inspect and deny most damages but the admin burden would be huge

From MIBI website
It is not always possible to claim compensation for vehicle or property damage under the MIBI compensation scheme. Where the offending vehicle is not identified there is no provision in the 1988 or the 2004 MIBI Agreements to recover losses for vehicle or property damage. The 2009 Agreement introduced compensation for vehicle or property damage against an unidentified vehicle where there are significant personal injuries arising from the same accident. See clause 7 of the 2009 agreement for comprehensive details off the scheme for Property Damage compensation

Claim from your insurance, any impact on premium is not going to be €3,500. Depending on how old your car is there is no problem with second hand or spurious parts - they are as good as the original. See if Hibernian would cut you some slack on NCB if you allow them to a cheaper repair - if they won't just have the manufacturer standard parts.

Just be glad you have comp insurance - without that you would be looking at repairing your own car yourself

Thanks for the excellent post.

"At that level the impact wll be pretty much the same - just impact on no claims bonus."

What ever the cost of the repair work my premium will go up when I renew?

But it wont go up proportinate to the amount claimed, regardless if its 2k or 5k?

Thanks for the information, trying to get my head around it.

thebiglad

Speculator wrote: »

Thanks for the excellent post.

"At that level the impact wll be pretty much the same - just impact on no claims bonus."

What ever the cost of the repair work my premium will go up when I renew?

But it wont go up proportinate to the amount claimed, regardless if its 2k or 5k?

Thanks for the information, trying to get my head around it.

Yep your premium is going to be higher - but at the levels you're in here there will be no additional 'claims loading' to your premium, just loss of NCB and any general increase by your insurer.

If car is repaired and claim settled by time policy renews - don't be put off phoning a few brokers for alternate quotes, you may get some 'no-quotes' but worth some effort.

Tiriel

thebiglad wrote: »

Yep your premium is going to be higher - but at the levels you're in here there will be no additional 'claims loading' to your premium, just loss of NCB and any general increase by your insurer.

If car is repaired and claim settled by time policy renews - don't be put off phoning a few brokers for alternate quotes, you may get some 'no-quotes' but worth some effort.

I had a claim on my insurance that came to 1800 for their car, 500 for mine. My insurance went from c.€350 to c.€900 when it came to renewing it a few weeks later. I changed insurance company and got my insurance same cover etc. for €400. I had never had a claim before but make sure that if your company hike up your insurance come renewal time, that you shop around.

CoDy1

Go with the new parts repair op, makes no difference whether you claim 2.5k or 3.5k or 10.5k. A claim is a claim regardless of value. Its not a case of 'the more you claim the higher your premium next year'.

It will affect the percentage bonus you will have come renewal, which maybe nil or if you have step back protection you might have 10-20% bonus.

thebiglad

CoDy1 wrote: »

Go with the new parts repair op, makes no difference whether you claim 2.5k or 3.5k or 10.5k. A claim is a claim regardless of value. Its not a case of 'the more you claim the higher your premium next year'.

It will affect the percentage bonus you will have come renewal, which maybe nil or if you have step back protection you might have 10-20% bonus.

Not true - some insurers will apply a 'claims loading of 50-100% dependant upon the level of the claim. Loss of NCB is not the only underwriting adjustment factor which is used.

As I have previously said though, at the levels we are looking at here, it is not even a factor.