I've just smashed up the front of my car pretty badly; whole bumper has come off, front lights smashed, grill is damaged and the windshield is cracked on the passenger side. Fortunately, I was the only one involved and no injuries. It was 2am, I panicked and got a local service to tow my car away from the scene. I'm guessing I am not going to be reimbursed by my insurance company for the hefty fee I got charged for towing it away?
My insurance company states that it will be a Total Loss from the description of the event and my car. Anyone know how much settlement (market value is about £3500) I will get and how much my premium will be increased by? Or whether I should not have claimed it?
I just crashed Watch
- Thread Starter
Last edited by PoweredUpBlossom; 21-08-2016 at 16:25.
- 21-08-2016 16:23
- 22-08-2016 12:25
You won't get market value.
You will be offered bottom book which is the glass' trade price.
You can try to negotiate higher quoting service history and prices being asked in Auto-trader etc.
From that figure of course will be deducted your excesses.
You will lose 1-2 years no claims and maybe get a 25% loading
- 22-08-2016 12:44
I don't think you'll be reimbursed for the insurance because you rang up about it yourself. I've crashed my car before and rang the police and they gave me the option of they'll get someone to tow it away and the insurance will pay or to pay for it myself so it doesn't make my drop in premiums as bad, or something...
I don't know how much settlement you'll get, but as the car is of pretty low value (no offence..it's a car) i get the bad feeling they'll try to pay as little as possible.. why was the car worth that much? Was it an old model, or high miles, or just a cheap car? They'll all play a part.
Please bear in mind tho, whatever you DO get, first the insurance people will use it pay the rest of what you owe them (if you were paying monthly.. If annually they'll give you a refund for the number of months you have left on your insurance!) and after that, if the car was on finance they'll pay the finance people off as well. If it's not enough to pay the finance you'll have to pay the rest, anything left over is yours. They may also ask you to sign the car over to them with the V05 or whatever it is and once you have they'll refund you for the remainder of your road tax.
Regarding your premium going up, I honestly don't know. Like I've said, I've crashed my car at the start of this year and haven't driven since, therefore haven't needed to look at car insurance.. But i think i checked once and reported the accident, and I honestly think it stayed the same as what I was paying..? Probably because I can put my parents down as named drivers... But don't quote me on that and I'm too scared to look again until I need to in case it's changed.
But, here's another thing to think about if you don't get as much as you were hoping for.
Insurance companies tend to write your car off if they think the damage will cost more than 50% of replacing your car. Now, if your car is worth £3,500 then they'd write off anything it would cost over about £1,750 to repair. That sounds like a lot, but if that's the only damage to your car, is it really going to cost that much more to just repair? Not as much as getting a next decent car, I reckon. It sounds repairable. Maybe, think about that and think about asking for your car back..?
I'm sorry to hear you've crashed, anyway. It's not nice best of luck in the future mate!