Insurance 3rd party claim

AstroTurf said:
Momentum just gave me a bundle of money for not claiming anything (I actually forgot that someone called me and told me they can add no claim bonus for free a few years back). anyway, I see why OP is hesitant now.
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Would it be forward of me to ask how much is a "bundle" of money? How many years of no claiming?

For research purposes of course.
 
airborne said:
I have only stated the plain facts of the matter, granted your loose grip on what constitutes a fact may hinder your ability to ascertain that.
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okay

airborne said:
The value of the claim does not change the consequences of the outcome. If the claim dept of the 3rd party insurance Co decides not to pay out you either litigate or take it on the chin. For which reason going down that road when you have insurance cover would be downright stupid, probably why it's not surprising to see you endorse it.
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did the OP approach the insurance of the person who knocked him? and if so what did they say?
 
saturnz said:
okay




did the OP approach the insurance of the person who knocked him? and if so what did they say?
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saturnz said:
okay




did the OP approach the insurance of the person who knocked him? and if so what did they say?
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It's like reasoning with a child, they have to go through every possible scenario until they'll finally admit the error of their ways. :crylaugh:

The implications of seeking an agreement with a 3rd party insurer whilst having existing insurance is the issue not the value of the claim nor whether the 3rd party is willing or not to entertain the claim.

If you have insurance let them assume the current and future liability as a result of the incident, the end.
 
AstroTurf said:
Momentum just gave me a bundle of money for not claiming anything (I actually forgot that someone called me and told me they can add no claim bonus for free a few years back). anyway, I see why OP is hesitant now.
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Nice one!

However, technically, the OP needs to disclose the accident to his insurer even if he doesn't want to claim from them. This even though it might not affect his "No claims" it will have an affect on his risk profile and it will be worked into his next renewal/increase.

To avoid any future headaches, just claim from own insurance and be done with it. They can repudiate a future claim on the bases that he has not disclosed this accident even though he didn't claim from them directly.
 
airborne said:
It's like reasoning with a child, they have to go through every possible scenario until they'll finally admit the error of their ways. :crylaugh:

The implications of seeking an agreement with a 3rd party insurer whilst having existing insurance is the issue not the value of the claim nor whether the 3rd party is willing or not to entertain the claim.

If you have insurance let them assume the current and future liability as a result of the incident, the end.
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He'll keep on beating the same drum over and over because he had no insurance to begin with, or probably 3rd party only. That in itself says a lot. I pay quite a pretty penny on insurance and hardly ever claim. I think my Loss ratio for the last 3 years is 0%. That is a pretty penny made by the Insurance company. I have ZERO issues claiming should I need to. I pay insurance so I don't have to stress about these things, why pay and still need to stress myself :confused:... Makes zero sense.
 
saturnz said:
so thats a no then
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Yes my child, if you had been following the thread you would have seen the op came to his senses and didn't bother with a pointless 3rd party claim because he has insurance cover and he used it for what he's being paying it for.

Illuminating to see you are more interested in being right than giving the op good advice.
 
Pitbull said:
He'll keep on beating the same drum over and over because he had no insurance to begin with, or probably 3rd party only. That in itself says a lot. I pay quite a pretty penny on insurance and hardly ever claim. I think my Loss ratio for the last 3 years is 0%. That is a pretty penny made by the Insurance company. I have ZERO issues claiming should I need to. I pay insurance so I don't have to stress about these things, why pay and still need to stress myself :confused:... Makes zero sense.
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A no claim bonus is a total con, if you are lucky enough to get one then all good but for it to influence a decision not to claim then you have fallen into their cleverly laid trap. Especially seeing it doesn't change the fact that your risk profile is still affected, which many people incorrectly believe is not the case.
 
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The other big factor surrounding this is the 3rd party insurer if necessary uses apportionment to reduce their payout to you due to how they perceive who is to blame. AND because they can't claim the damages you caused to their client from your own insurer because you have not opened a claim for the incident, they must deduct their clients damages from what they owe you. If the other party has a valuable vehicle you can easily get paid out almost nought.

So the 3rd party insurer apportions 40% blame to the op, op's damages are say R20k, the other guy R15k so they will pay out to the op 60% of R20k(R12k) less 40% of R15k(R6k).
Hence total payout to the op by 3rd party insurer is R6k despite having R20k damages.
 
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airborne said:
Yes my child, if you had been following the thread you would have seen the op came to his senses and didn't bother with a pointless 3rd party claim because he has insurance cover and he used it for what he's being paying it for.

Illuminating to see you are more interested in being right than giving the op good advice.
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doesn't change the fact that you said you based your posts on only the facts, when you clearly made at least one assumptions, and continue to do so

until next time
 
saturnz said:
doesn't change the fact that you said you based your posts on only the facts, when you clearly made at least one assumptions, and continue to do so

until next time
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Ouch, you take clutching at straws to the next level.

There was nothing to assume, whatever the 3rd party insurer would have offered the op is irrelevant, hence my posts were only based on fact - fact being if you have insurance you do not claim from the 3rd party insurer.
 
All claims effect your next annual premium increase apparently. Cannot win. Fewer people are insuring and more people are electing to run away to avoid personal costs .
 
Brieuse said:
All claims effect your next annual premium increase apparently. Cannot win. Fewer people are insuring and more people are electing to run away to avoid personal costs .
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Kinda what I said previously. Best advice going forward, claim form your insurer and let them deal with it. If they increase you on renewal to a ridiculous amount, move insurers :p
 
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