car insurance cancel but claim in process

[shughal]

hi,

I took the insurance from Churchill 2 month before and now i want to cancel it. In first week of October some body hit my car in front of me and drove away. I informed the police and insurance company, case is under investigation. I need the commercial insurance so that i want to cancel my current insurance. but Churchill says you have to give the full premium before cancel it or take your claim back. That was hit and run case and hundred percent that is not my fault. even i have said if other party don't commit i ll not repair my car through your company. i ll repair it myself. need advise what i should do, at the same time i can't give the money to different insurance companies. urgently help needed, thanks

[Boro]

Standard procedure in the event of a claim the full premium is due, you need to decide whether the balance of the premium is less or more than the cost to repair your car and weigh up the chances of being able to claim from the other driver, chances are they didnt have insurance (seeing as they ran)

[esmerobbo]

It may also be worth considering uninsured loss cover on any future insurance.

[shughal]

other driver has the insurance but obviously not committing. any idea normally howlong insurance company will take to solve this claim. premium is more that the cost to repair if i do myself. advise needed.

[Boro]

Your call but if you leave the claim to run you will have to pay the balance on the policy whatever the outcome through the insurance companies and remember that if you wish to cancel the claim you will need to still declare it in the future to insurance companies as the accident still happened although it shouldnt have too much impact as your not at fault and claimed no cost

[esmerobbo]

Don't forget to calculate the excess into the equation. Its your call as stated.