insurance advice after accident

Splinter said:
maybe I am missing something, but how are you worse off? Your wife's car debt is fully paid off?
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To start from scratch with debt again ?

I see what you mean but i mean,already year or two in it and now you have to start over again,where she had R20000 for her first deposit she now has only a few thousand ?
 
Magandroid said:
Also be careful if claiming from his insurance. They will apply the 80/20 case law where they don't pay out the full amount as they'll say that you as the driver also played some role in the accident.
There was an article in one of the Cape Town community newspapers last month, where someone complained about this (I think it was last month's paper). He eventually contacted "Off My Trolly" to help him with this problem. The person that drove into him admitted they were at fault and even went as far as signing an affidavit to this but still the insuarance company wouldn't pay out the full amount.
Eventually with the help of "Off My Trolley" they paid out the full amount.
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This is good to know
 
genetic said:
This. Insurance is not meant to make you money, It's there so it covers the majority of your loss.
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True true,probably just feel mad that the wife is feeling bad and sad about the accident and try to give her something to let her feel better...
 
Lupus said:
Claim through your own insurance, let them fight it out with his insurance. Third party claims are a pain in the rear end and they hardly ever end well. You pay insurance for a reason and that reason is so that you don't have to stress over this.
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Oky so why we don't want to claim through our own insurer ..

They want her to pay R5000 upfront which she does not have at this moment,that they claim she will get back after a while.
Her insurer might bump her clean record and increase the monthly premie
We spoke to 3 friends that have gone the route of claiming through their own insurer and never seen the excess paid back after year or two and still counting.

So i read some people stating not to have an excess yara yara but not everyone has a great salary to pay R400+- extra a month on their insurance to cancel out the excess ,So some do add the excess amount to get a cheaper premie a month cause insurance is needed.
 
Tman* said:
With a car being a depreciating asset, you could easily have had a credit shortfall. I know it's a crap situation, but count your blessings.
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Yip,told her it could be worse ..She could have been the one driving into someone else ...Way k^ker situation!

We got word that the guy's work vehicle that he's worker drove into my wife's car is written off as well ..
 
djbrendan said:
Oky so why we don't want to claim through our own insurer ..

They want her to pay R5000 upfront which she does not have at this moment,that they claim she will get back after a while.
Her insurer might bump her clean record and increase the monthly premie
We spoke to 3 friends that have gone the route of claiming through their own insurer and never seen the excess paid back after year or two and still counting.

So i read some people stating not to have an excess yara yara but not everyone has a great salary to pay R400+- extra a month on their insurance to cancel out the excess ,So some do add the excess amount to get a cheaper premie a month cause insurance is needed.
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They should still try to recover the Excess from the other party?
BTW hindsight is 20/20 get top up cover next time
 
djbrendan said:
Oky so why we don't want to claim through our own insurer ..
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Absolutely stupid decision, claim, and claim now. You're going to risk the cost of all the damages(yours and the other guys) to save a 5k excess, the other guys insurance, his bank and your bank WILL come after you and they will win. You also don't pay them 5k, they take it off the settlement amount.
 
isie said:
They should still try to recover the Excess from the other party?
BTW hindsight is 20/20 get top up cover next time
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And you've still got to let your insurance know anyway. Also her clean record is no longer clean, even though it wasn't her fault she was still in an accident and your insurance needs to know.
 
isie said:
They should still try to recover the Excess from the other party?
BTW hindsight is 20/20 get top up cover next time
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Topup cover won't help in this case. That's to pay for the difference between insurance value and the outstanding value on the finance.

Best is to either have emergency savings for the excess value of vehicle or no excess insurance.
 
Lupus said:
And you've still got to let your insurance know anyway. Also her clean record is no longer clean, even though it wasn't her fault she was still in an accident and your insurance needs to know.
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yep that too

supersunbird said:
Topup cover won't help in this case. That's to pay for the difference between insurance value and the outstanding value on the finance.

Best is to either have emergency savings for the excess value of vehicle or no excess insurance.
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I read the OP wrong - he said they will be worse off assumed he meant having to pay the difference of what is left owned on the car then what they insured for
 
isie said:
They should still try to recover the Excess from the other party?
BTW hindsight is 20/20 get top up cover next time
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I've got it with my car.Sadly she does not as it was not offered and we did not know at the time.

Yes they did try and recover it but it's apparently excuse after excuse as i understand it.
 
ScottulusMaximus said:
Absolutely stupid decision, claim, and claim now. You're going to risk the cost of all the damages(yours and the other guys) to save a 5k excess, the other guys insurance, his bank and your bank WILL come after you and they will win. You also don't pay them 5k, they take it off the settlement amount.
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This is what i thought as well,but the brokers insists on paying in the excess before an action and pay out is made..

I have never heard of this before ,as my insurer does not work like that,but hers does :/
 
Lupus said:
And you've still got to let your insurance know anyway. Also her clean record is no longer clean, even though it wasn't her fault she was still in an accident and your insurance needs to know.
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They do know,yes that is probably true.But her premie won't go up at least
 
djbrendan said:
Hi all,

So i just like to get some tips

My wife was in a accident last week,Long story short...Guy did not look where he was driving and rammed my wifes car at 80kmph ...

Got two quotes so far at the insane prices of +-R79000 for the damage,Mind you this is for a Ford Figo!

So yeah book value at a dealership is R69000..As well,the guy that caused the accident said to claim through his broker.

Now this is what gets me,i know they will write this car off and pay her out,problem i have with this is that she owes R64000,So she gets R5000?How can someone be worse of than before after something that was not your fault?Or am i missing something here?! Any advice would help
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Wait did you phone the financer and get the settlement amount? The settlement will be less interest, which means it will be far less than R64000 she owes, or is the 64K after interest is taken out?

Was the car insured at Retail or Market value?
 
Tsepz_011 said:
Wait did you phone the financer and get the settlement amount? The settlement will be less interest, which means it will be far less than R64000 she owes, or is the 64K after interest is taken out?

Was the car insured at Retail or Market value?
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That was the settlement amount i gave you :) we phoned the bank.On her insurer it was for retail value.But the 3rd party will be settling
 
djbrendan said:
How so? bite you in the arse later ,people coming back or what?
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When there's enough damage to write the car off, there will always be issues afterwards, and because you repair it yourself, you have no comeback with the insurance company. Been there, done that. :(
 
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