RTA - claim on insurance or not?

Carnmore

In summary, a car suddenly stopped on the road to do a u-turn causing the two cars behind it to stop in the flow of traffic - I couldn't see this so ended up rear-ending the car in front of me and shunting it in to the next car.

The first car left the scene and no-one got their registration.

It seems I'll be liable. It was amicable amongst all the parties and no one was hurt. The total cost of fixing the three vehicles will be €4-6k.

In general, is it worth going through insurance of paying for the repairs myself considering the loss of no claims discount, premium loading et al?

Thanks in advance.

Eggs For Dinner

You rear ended the other vehicle and likely you will be held liable. Notify your insurers and leave it to them. Injury claims are on their way

Sorry for your troubles

irelandrover

If you rear ended another car hard enough to send it into the car in front, i wouldnt be surprised if you are also looking at some personal injury claim. It could take a few days before they really start feeling the pain.

I'd go through the insurance in this case.

Carnmore

Thanks for the replies. I'm trying to get an idea of the amount a claim would need to be to go through insurance. A garage owner said he has clients who have paid €8k themselves rather than claiming.

If it's damage repairs only the total amount could be about €2500. I would be getting both parties to sign an agreement that their claim is settled in full, which I know wouldn't stand up in court but might reduce the chances of a further claim.

In the event of paying for the repairs rather than claiming, what would happen if in the future (I think it's up to 10 years for a child) someone puts in a personal injury claim when the insurance policy no longer exists?

jcd5971

Op report it as soon as you can.

No matter what happens in front of you, you are required to have left enough space between you that in the event of an emergency you can safely stop.


It may appear amicable now op, but you can't rule out a personal injury claim down the tracks, other driver could very legitimately develop symptoms later.
Not to mention if a solicitor gets in their ear.

And your insurance will not look kindly at only being informed at that stage.

Carnmore

Yes, I informed the insurance company the next day and a case number has been allocated.

Like I said, I'm trying to figure out if it's going to be worth claiming off my insurance.

thebiglad

You will be found liable for this collision regardless of whether the 1st vehicle had stayed around or not, you should drive with sufficient distance to the car in front to be able to stop in all circumstances.

On the 2nd part of this I agree with all other posters, due to the severity of this claim report it to your insurers immediately.

The question about whether to pay yourself depends really on what your premium was at last renewal (and whether this claim will indeed be limited to just vehicle damage when the dust settles).

If the claim can be limited to vehicle damage only then what you can consider is the cost of premium increases probably for 3 years against the outlay you would have now.

If you have 50% NCB (or less) and it is not protected then it will go to zero and so with no other changes the premium you last paid will be doubling and probably will stay like that for 2-3 years. Insurers may also apply an additional rating factor for the claim and that could be 25%-50% more again.

If you paid €2k-€3k for insurance then maybe there is benefit to trying to settle yourself. If your premium is anywhere below €2k I simply cannot see any economic benefit in settling yourself.

Unfortunately as other posters have mentioned given the apparent force of this accident it is probable there will be injury claims anyhow.

Carnmore

thebiglad wrote: »

If you paid €2k-€3k for insurance then maybe there is benefit to trying to settle yourself. If your premium is anywhere below €2k I simply cannot see any economic benefit in settling yourself.

Current premium circa €650

thebiglad wrote: »

If you have 50% NCB (or less) and it is not protected then it will go to zero and so with no other changes the premium you last paid will be doubling and probably will stay like that for 2-3 years. Insurers may also apply an additional rating factor for the claim and that could be 25%-50% more again.

Does the additional rating factor increase if there was a personal injury claim?

thebiglad wrote: »

Unfortunately as other posters have mentioned given the apparent force of this accident it is probable there will be injury claims anyhow.

What happens if the personal injury claim comes in further down the line after the claim is settled?

Carnmore

Another question is I might be moving to the UK - what would happen to my existing policy and would I be able to get a new policy in that event?

thebiglad

Carnmore wrote: »

Current premium circa €650




Does the additional rating factor increase if there was a personal injury claim?



What happens if the personal injury claim comes in further down the line after the claim is settled?

At your level of premium leave it to the insurer would be my advice - take the premium hit for a couple of years and chalk it down to experience.

Additional rating factor will be based partially on claims value and partially the fact that you have had an accident making you a higher risk to insure.

You could tell the insurer that you are settling yourself and do so, if further down the line there are injury claims then you can refer the claim to the insurer at that point - you can ask them to reimburse you the property element you have settled (which they may do if they consider what you paid to be reasonable).

Injury claims, except minors must be presented within 2 years but often you would hear about it much sooner than that, people want their cash and PIAB takes time.

thebiglad

Carnmore wrote: »

Another question is I might be moving to the UK - what would happen to my existing policy and would I be able to get a new policy in that event?

Your existing policy will be cancelled when you move and no longer require it, the accident now makes no difference to that. There is unlikely to be any premium refunded due to the claim (check the T&C for your policy on that one).

Your proof of no claim bonus will advise years of cover and number of claims which you will then declare to the UK insurers when seeking a quote.

There is a far bigger selection of insurers in the UK so it may be a better place for you with a potentially still open claim (if there is injury) on your record.

Carnmore

Thank you thebiglad - lots of useful info there.

Can I ask if you have an insurance background or general knowledge of this area?

Eggs For Dinner

Carnmore wrote: »

Yes, I informed the insurance company the next day and a case number has been allocated.

Like I said, I'm trying to figure out if it's going to be worth claiming off my insurance.

OP, I'm glad you have notified your insurers. Leave it to them now. If you try and negotiate anything with the other party from here in without their permission, you are in breach of policy conditions and may be asked to repay your insurers whatever they end up paying out.

When your insurers settle the claims, you will always have the option of reimbursing them to have your NCB reinstated. Let them use their resources to secure the best possible deal. Also a 3rd party has up to 2 years t notify their intention to seek compensation for injuries (2 years following their 18th birthday if it is a minor), so it is important it is handled correctly

Carnmore

Eggs For Dinner wrote: »

OP, I'm glad you have notified your insurers. Leave it to them now. If you try and negotiate anything with the other party from here in without their permission, you are in breach of policy conditions and may be asked to repay your insurers whatever they end up paying out.

It's not that I'm trying to negotiate - if their repair costs are realistic I'll just pay them. One party has got a quote and it's reasonable.

Eggs For Dinner wrote: »

When your insurers settle the claims, you will always have the option of reimbursing them to have your NCB reinstated. Let them use their resources to secure the best possible deal. Also a 3rd party has up to 2 years t notify their intention to seek compensation for injuries (2 years following their 18th birthday if it is a minor), so it is important it is handled correctly

Does this mean in the case of say a 3 year old child - they have a 17 year potential claim period?

Eggs For Dinner

Carnmore wrote: »

It's not that I'm trying to negotiate - if their repair costs are realistic I'll just pay them. One party has got a quote and it's reasonable.



Does this mean in the case of say a 3 year old child - they have a 17 year potential claim period?

OP, unfortunately there is an almost certain chance that an injury claim is coming in. Leave it to your insurers.

Yes, minors have that length of time. However, they usually claim via a parent long before then. Would you believe a claimant has up to 6 years to notify you of their intention to claim for damage to property?

Carnmore

Eggs For Dinner wrote: »

OP, unfortunately there is an almost certain chance that an injury claim is coming in. Leave it to your insurers.

Yes, minors have that length of time. However, they usually claim via a parent long before then. Would you believe a claimant has up to 6 years to notify you of their intention to claim for damage to property?

I’m getting the various quotes together and forwarding them to my claims handler with photos for approval. The insurance company will then pay for the repair costs and I will decide whether to reimburse the insurance company or not if it’s more advantageous to have no claim on my record.

Eggs For Dinner

Carnmore wrote: »

I’m getting the various quotes together and forwarding them to my claims handler with photos for approval. The insurance company will then pay for the repair costs and I will decide whether to reimburse the insurance company or not if it’s more advantageous to have no claim on my record.

That is the best course of action.

galwaytt

Carnmore wrote: »

I’m getting the various quotes together and forwarding them to my claims handler with photos for approval. The insurance company will then pay for the repair costs and I will decide whether to reimburse the insurance company or not if it’s more advantageous to have no claim on my record.

That's a good option, it's called 'buying your claim'. Came across it when SO was involved in a tip previously.