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Car insurance and non-fault claim headaches!


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Hi all,

 

So a bit of a story so I'll try to summarise whilst keeping main points.

 

  • Kuga on 3 year finance from Ford. Finance and V5 in parents name. Car Reg date 30th June 2015.
  • Myself as main driver and policy holder.

  • Policy through Lloyds (Covea underwriter). GAP not taken as policy has New for Old for vehicles less than 1 year old.

  • Drunk driver (who has now been prosecuted) crashed into my parked car, writing it off on 11th June. He was fully insured

  • Lloyds collect car, deem it right-off and pass to underwriter to handle. Covea collect car from them and confirm write off.

 

So here are my concerns/questions that I'm hoping for some advice on.

 

  • Firstly, Covea have offered me a settlement of £1150. Yep for a 1 year old vehicle, with less than 15K on the clock. Surely this must be a mistake yes?
  • Covea are also charging me my excess? Surely as I'm not at fault I shouldn't be charged this?

  • Only after all this has happened I realised I have made an error, and put on the policy that I am registered keeper on V5 and not my parent. Should I be worried that they now won't pay out. Everything else is 100% correct.

  • Lastly, I am due to go to France in 2 weeks. I am driving down. Lloyds (through enterprise) have provided the courtesy car but have said I'll need to pay in the region of £300 to take the car abroad. Should I be expected to pay this? What are my options?

 

As you can see it's a bit of a cluster****. Due to it not being my fault (I was sat on my couch!) if it all goes tits up and I end up having outstanding finance or having to pay to take the courtesy abroad would I have much chance claiming through small claims court against the idiot who caused all this?

 

Any help, just even to put my mind at ease would be appreciated.

 

Thanks all

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It's the third party insurance that should pay for all of this including your excess.

If you have gone through your own insurance, now you will have a mountain to climb to get your losses back.

Remember that you should be put in the same position you were before the accident (even though this rarely happens)

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It's the third party insurance that should pay for all of this including your excess.

If you have gone through your own insurance, now you will have a mountain to climb to get your losses back.

Remember that you should be put in the same position you were before the accident (even though this rarely happens)

 

That's what I thought.

 

I gave all the details of the idiot who hit insurance, including his policy number etc to Lloyds. Surely that's enough? Surely they should have contacted his insurers to sort all this?

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You should have contacted the third party insurance for the claim and just notify yours.

Maybe it's not too late to withdraw the claim from your insurance and go directly to the idiot's insurance.

Speak to Lloyds and see if you can withdraw the claim.

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If your Insurers are offering you settlement they are accepting the issue with you Insuring the car as the owner/registered keeper by mistake. As they are accepting the claim, then if the Insurance covers the new value if wriiten off within first year of registratuon, then they must offer the new value of the car.

 

Of course they will deduct the excess from the claim and you need to claim back the excess, plus other uninsured losses from the third parties insurers. The uninsured losses can include hire car and the extra involved in taking the car abroad. In regard to extra abroad cost, you need to evidence the trip was already booked before the accident, therefore this is why this extra cost needs to be claimed back.

 

You do realise that your parents finance company must be informed of this accident write off by your parents. The finance company will require the Insurers to pay them the settlement towards paying off the finance. Your parents might face serious consequences if they did not inform the finance company. The finance company still own interest in the vehicle and can take court action if required. Your Insurance company should check for finance and send any settlement to the finance company, but sometimes by mistake this does not happen.

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Unclebulgaria, correct me if I'm wrong but by claiming through his own insurance, wouldn't future premiums be higher than if he claimed through the 3 party's?

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Unclebulgaria, correct me if I'm wrong but by claiming through his own insurance, wouldn't future premiums be higher than if he claimed through the 3 party's?

 

It can be better to claim from third party, but not in this case as the OP's policy covers new vehicle value, if write off claim in first 12 months since vehicle registered. They would not get that from third party insurers, who would only pay current market value.

 

But in normal circumstances, if you claim directly from third party where the third party is 100% at fault, it can work out better, as the claim is on the third parties insurance record. You still have to notify your own insurance company of an accident claim you are making with the third party directly and the policy will attract a premium loading for a few years related to a non fault incident. When you claim off your own policy, it may be noted as a fault claim affecting the policy until your Insurers claim back their money in full. Once claimed back in full, the claim status will be changed to non fault, with no claims reduction reversed if necessary and any loading for fault accident also reversed. Where an accident is obviously the fault of the third party and the third parties insurers agree up front to reimburse your insurers, they can note the claim to be non fault, knowing they will get their claim payout back in full.

We could do with some help from you.

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I wonder whether the £1150 being offered is what is left, after paying Ford finance what they are due ?

We could do with some help from you.

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I wonder whether the £1150 being offered is what is left, after paying Ford finance what they are due ?

 

I would tend to agree the finance company will get there dues and the £1150 sounds like the remainder of the cars value.

The OP needs to ring the finance company and see if the insurer had been in touch.

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