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    • as i said unsure of what this 15% is about.   the FOS/FCA clearly describe how refund calcs show have been made the their relevant sites.   p'haps at this juncture it might be better to scan up to ONE multipage PDF their refund letters  another set of eyes is always belter.   please read our upload guide carefully      
    • I wouldn't bother with emailing Virgin's CEO.   In April I started a complaint about my BB connection which they repaired quickly but charged me to repair.   I was mostly ignored or promised resolution that never happened. So I complained by email to the CEO, twice, demanding written responses. On each occasion, a lowly call centre worker called and it was obvious they knew or cared little about my actual case.   Finally I got a written reply confirming the charge was dropped but not a penny offered in compo despite the issue taking months to resolve.   Virgin don't take CEO complaints seriously.
    • Dear All,   BN, BF, HB, - Thank you for your comments.    Yes sorry, i wanted to save some time by doing that as I wanted to carry out the posting ASAP OK, I have redacted the statement and it is attached here in the PDF doc.   Its our 2nd draft and I will fine tune it tonight / tomorow.   Thank you for putting me right.    Warm regards BF   Counterclaim-1.pdf
    • So according to this calculator my refund should be £4562.96 at the 8%.   This is in line with some of the management firms calculator on-line.   I have checked their letter again and they have paid from 1 Jan 1989 - 1 Jan 1994 only. They have refunded all the insurance premiums totalling £469.50 and the interest paid on the premiums to date of £257.90.  Additional interest of £1,436.36 after tax on top of refund as compensation.  Statutory rate of 8% from 1 Apr 1993 and at 15% before that.  They have not provided a breakdown of payments from 15% - 8%.  Only below:   £  469.50 - Refund of PPI premiums paid £  257.90 - Refund of interest charge on the premiums paid £1,795.44 - Statutory compensation -£      0.00 - Less any previous successful claim -£      0.00 - Less any previous refunds made directly as result of this policy -£       0.00 - Less any statutory compensation already paid -£   359.08 - Deduction from any statutory compensation interest for income tax at 20% _________ £2,163.76 - Total refund due   This will be the second time I am returning their calculations.  They made a decision last year and used a wrong date as they could not read the date and made up a date then it went to the back of the queue to be recalculated.  I had already queried the refund amount with them and they have moved the date again from the 22 Jan to 1 Jan!   Are they using a different calculator/principal why the figures are so far apart?  How am I going to show them this calculation without it going to FOS and sitting there for years to be assessed?   Can I also ask how to do the 15% calculation?  Thanks so much.  
    • Hi Burma.   You've been here for a while and I have to say I'm a bit disappointed that you're PMing this to various people off the main thread.   Advice by PM isn't what we advise here and I hope that you can post up your anonymised documents very soon.   HB
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What's the finanical impact of no claim, accident reported for "information only"?


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Hi All

I'm was recently involved in an accident which the third party crashed into my car in a car park. 

The third party admitted liability and I have our conversation in social media to reinforced this fact. 

Having looked at the "damage" to my car the next day I found it’s barely a scratch and that I can easily T-Cut any visual imperfection. 

 

As per my knowledge, I called the insurance and informed them of the situation and it’s for “information only” as no claim is necessary.

The insurance said there was no need for me to call them unless I was claiming but since I called they would note it down in my records which I now need to declare for any future insurance I buy. Ultimately I don’t think I can even claim for the damage even if I wanted to as it’s too superficial.

 

The third party is happy to pay for the damage directly but other that my time and some T-cut,

do I need to factor in a possibility of my insurance cost going up next renewal?

Would it go up as I have reported it?

If so, how to I even calculate that if I’m not claiming?

 

In this situation feels like I getting financially penalised for doing the right thing and not at fault.

In theory the third party doesn’t have to declare to their insurance,

therefore no impact to their future premium.

 

Thanks you any advice in advance.

 

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No point in suing third party for possible insurance increase, as you cannot quantify this yet and you are expected to mitigate against such losses, by for example shopping around for cheaper Insurance. People have tried suing for losses suffered such as premium increases and have lost. It is more complicated than you would think it should be.

 

Best thing to do in this situation, is either forget about it or get a quote for repair and ask the third party to pay for this. 

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  • 2 weeks later...

the insurer will hike your premium because they use an algorithm for their computer that decides that your driving style is somehow to blame for other people's errors so they will decide that you must have parked in an awkward way or too near the road or on the wrong kind of tarmac etc.

What has the other party offered to pay? they certainly arent going to tell their insurers and if you take the car in for a quote it will be for £1200 for the replacement of some structural component that couldnt possibly get damaged so you have some leverage on the other party to reach a deal at around £100

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Well I got lucky in this case that the other party had moral integrity. I had a quote from a local body repair shop, send the quotation and other party pay me without any question on the same day. It could have gone a lot worst. Still I have no idea how this would impact my insurance premium next time so I can only hope this payment will cover this on-cost.

Edited by nightkid
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