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Help with Third Party Insurance Claim please

  • 27-04-2012 12:43pm
    #1
    Manuel
    Registered Users, Registered Users 2 Posts: 431 ✭✭


    Hi, I'll try to be brief. Are there stickies somewhere on this kind of thing?

    I crashed into another car and caused significant damage - no quotes yet. I didn't damage my own.

    I'm not sure, but these are my options I think:

    1. Settle with other party. Get a quote for their repairs. Pay for their damages.

    2. Other party claims from their Insurer. Their Insurer then comes after me.
    How quickly does their Insurer pay out? Before or after pursuing me?
    Does other party get charged excess and then this is added to their Insurer's claim against mine?

    3. I submit Claim against my Insurer for other party's damages.
    I pay excess and affect/lose my bonus.
    I have fully comp but no Bonus protection (D'OH!)

    It seems to me, for anything less than say 1,000 Euro, it's better to settle, in the long run? Is that any kind of reliable rule of thumb?

    Thanks.
    /M.

    P.S. Car was unoccupied and stationary. No personal injuries. Inconvenience to third party who can't drive it now.


Comments

  • #2
    carbon nanotube
    Banned (with Prison Access) Posts: 994 ✭✭✭carbon nanotube


    i don't think you have any say in this, the other party can do as they wish.


  • #3
    Manuel
    Registered Users, Registered Users 2 Posts: 431 ✭✭Manuel


    Really? I suppose that makes sense in a way.

    I know the other party, acquaintances but not friends. Maybe that makes no difference as such. It's just that from my point of view, I would prefer to pay their damages, than lose out on paying out excess and losing my bonus.

    But I don't really want to interfere or influence them on the other hand ....

    So maybe I just sit tight then ....

    Thanks.


  • #4
    CiniO
    Registered Users, Registered Users 2 Posts: 16,069 ✭✭✭✭CiniO


    I doubt your policy has any excess against third party claims...
    Best way will be probably other party to claim from your insurance.
    They will get all money for repairs, and you will lose your NCB.
    That's it.


  • #5
    bassey
    Registered Users, Registered Users 2 Posts: 936 ✭✭✭bassey


    I smashed into the back of a 3 series a good while ago. No personal injury, I told yer man to get a few quotes and I'd happily sort it out myself. He came back to me with a quote of 1600 which I paid out of my own pocket as it was my first year on my own policy and I definitely don't regret it.


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