Should the person with four years of no claims discount go through the other driver's insurance company, even though they are offering to settle, in order to keep their no claims discount?

Question

Someone went into the back of me, he admitted fault on video and has informed his insurance company. I haven't notified my insurance yet as had a member of family passe away on the same day and I'm not feeling up to it. I'm 24 and have 4 years no claims discount. I've had missed calls and texts from his insurer (Admiral) saving that I can settle it through them, offering to pay for repairs/hire cars, offering me gift cards.

I would really like to keep my NCB, I'm not so fussed about my car as it isn't worth much. Apparently I put on my policy its worth £0, to bring the premium down, so would I get anything if its written off? I'm also about to inherit another vehicle so aren't so bummed about loosing my car and selling it for cheap as it is.

Is it worth me going through their insurance, what sort of figure could I get and how much will it affect my premium by not claiming but declaring the accident. Is there any risk that he could then claim against me, even though he's admitted fault to his insurer?

I'm so stressed at the moment that a car accident is bottom of my priority list, I'd appreciate any guidance/words of wisdom right now 😂 thank you all.

Helen Green · Accepted Answer

You absolutely must declare the incident to your insurer whether or not you choose to make a claim.

But then, the other insurer is actively chasing you. If you don't respond they will pursue you legally directly. Avoid that by passing it to your insurance as a claim, it's what it's there for.

> Apparently I put on my policy its worth £0, to bring the premium down, so would I get anything if its written off?

You wouldn't get a payout, no, but that's the least of your concerns, considering that it's non-disclosure and can lead to your policy being avoided for the same.

Not declaring the accident would also be insurance fraud. If they found out via any means, you would wind up having your insurance cancelled and losing your NCB would once again be the least of your concerns. You would have to declare any cancellation going forward, and you'll find that the few companies that will insure you will want ridiculous money for it.

To make this very clear - do not lie to or try to hide facts from insurers, they are extremely well versed in such stupidity and can make life *very* unpleasant for you.

Answer

Do you lose your no claims bonus if it’s their fault? I thought you would claim from them, not the other way round. You still tell your insurer but they claim costs from the other side.

Answer

You won't lose your NCB because from the sounds of it, his insurer will accept liability and pay out. You can settle directly with their insurer, but tell your insurer anyway, tell them what happened and what comms you've had from their insurer on it. Not only are you obliged to, but they may stop you getting a lowball offer etc.

Joan Williams

11th February 2022

1 upvote

Answer

Tell your insurance as per conditions of your policy regardless of your next steps.

If you proceed through the other persons insurer, your insurance will have it as notification only, which doesnt affect NCD. However, if you have any issues with the repairs etc, you might have a harder time with the other insurer than your own.

If you use your own insurance, your NCD MAY be affected, if they are unable to recover costs from the other side. This is unlikely unless your insurer tries to stretch the costs out. What you put the value down as is barely looked at by claims team. The value they give is based on "Market Value", usually taken from sources like Glasses, Parkers etc.

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