car accident insurance question

nino1

i was in a car accident last night where i was liable and damaged the rear wheel and dented the bodywork slightly of the other car.
I have third party cover which costed me around €350.

My question is how much worth of damage is worth paying in cash without going through insurance for it to be worth my while?

Also, his friend is a panel beater who he said could fix it for him. What do i do if he comes up with a ridiculous price to fix it, can i ask to get it assessed independently?

Thanks in advance for any help you can give me.

MugMugs

nino1 wrote: »

i was in a car accident last night where i was liable and damaged the rear wheel and dented the bodywork slightly of the other car.
I have third party cover which costed me around €350.

My question is how much worth of damage is worth paying in cash without going through insurance for it to be worth my while?

Also, his friend is a panel beater who he said could fix it for him. What do i do if he comes up with a ridiculous price to fix it, can i ask to get it assessed independently?

Thanks in advance for any help you can give me.

How much is it worth is variant on your policy as it is. Level of NCB, Protection etc etc..

As I don't know this then I can't answer your question and neither can your Insurer until renewal really. They can forecast though.

Point to note. If you put this through your insurance then they will most likely seek to reduce costs as much as they can to limit their exposure. As such, you can then pay them back what they paid in Third Party Property Damage and reinstate your No Claims Bonus and wipe the claim clean from future loading on your policy.

Irrespective of your intention on how to deal with this incident, you are still obliged to notify your insurer of an incident where they could be exposed to a claim in a timely manner. So basically, even if you want to deal with this privately, if the brown stuff hits the fan later on down the line your Insurance company may not be impressed that you didn't tell them from the off and could penalise you accordingly.

nino1

thanks mugsmug,
I have third part cover, never made a claim before (8 years) but no, no claims protection.

The taxi driver got back to me today saying that it looks like its going to be very expersive, has to replace shock absorbers etc and was talking about settling for loss of earnings

Would a settlement of loss of earnings be covered by my insurance?

Also, since it is his friend making the quote am I intitled to get a quote from a third, independent party?

db

Put it through your insurance, otherwise he will screw you for as much as he can get and you will be on your own. Your insurance company will deal with it and it will probably cost you less than dealing with this guy's loss of earnings, personal injuries, inflated repair costs etc.

Tails142

nino1 wrote: »

thanks mugsmug,
I have third part cover, never made a claim before (8 years) but no, no claims protection.

The taxi driver got back to me today saying that it looks like its going to be very expersive, has to replace shock absorbers etc and was talking about settling for loss of earnings

Would a settlement of loss of earnings be covered by my insurance?

Also, since it is his friend making the quote am I intitled to get a quote from a third, independent party?

If it's a taxi he will be looking for loss of earnings.i would say definitely go through insurance policy for this claim.otherwise you could be taken for a ride

Anan1

nino1 wrote: »

thanks mugsmug,
I have third part cover, never made a claim before (8 years) but no, no claims protection.

The taxi driver got back to me today saying that it looks like its going to be very expersive, has to replace shock absorbers etc and was talking about settling for loss of earnings

Would a settlement of loss of earnings be covered by my insurance?

Also, since it is his friend making the quote am I intitled to get a quote from a third, independent party?

Just pass the whole thing over to your insurer now. As MugsMugs says, you'll have the option of reimbursing them later. Although i'd be amazed if it were worth your while - unless the taxi is very old, i'd say you're looking at a couple of grand minimum here.

MugMugs

nino1 wrote: »

thanks mugsmug,
I have third part cover, never made a claim before (8 years) but no, no claims protection.

The taxi driver got back to me today saying that it looks like its going to be very expersive, has to replace shock absorbers etc and was talking about settling for loss of earnings

Would a settlement of loss of earnings be covered by my insurance?

Also, since it is his friend making the quote am I intitled to get a quote from a third, independent party?

I was not aware the Third Party was a Taxi Driver.

Get this to your Insurer STRAIGHT AWAY. From my experience with members of the Taxi community it'd be very much in your interest to have your insurer deal with this. Believe me.

And yes, he is entitled to claim for any uninsured loss he has reasonably suffered. This includes injury and loss of earnings etc..

what a day

Have to agree with above post, mugs is spot on. Contact your insurance quate as they will settle this claim in your best interest professionally.

As mugs said if costs are low enough you should be givein the option to pay your insurance outlay and thus not affecting your insurance premium.

Taxi drivers (not all) are ho bags when its comes to claiming!!

Good luck!!

nino1

thanks a mil guys for all the help