insurance advice please!

[nothelle300]

hi everyone
yesterday a had a little accident with the audi where i was at fault and its my first accident and was looking for some advice I was at fault and will have to pay for the damage which is roughly 2 grand.Will i lose my ncbs and also i have to pay the excess as well???And when the insurance is due for renewal i will have to pay more as i have a claim???Its so annoying as i dont think i would be able to insure the s2 without my ncbs and with a claim on my license!but anyone who knows about these things!maybe i would be better off just paying for the damage andnotgoing through insurance???
,many thanks
dean

[BRY]

All depends on your policy. Read the small print. Is your no claims disco protected?
If you are still not sure, ring and ask them.

[richslay]

If you pay for the damages you are not making a claim and therefore do not need to pay an excess.

The way I see it ... take the damage amount e.g. £2000 subtract your excess e.g. £500=£1500. Given that these things usually stay on your record for 5 years you then need to balance up what the extra cost on your insurance will be each year, this will depend on a number of factors but primarily if you keep your N.C.B. Ring up your insurance company and ask them to predict what the effect of the claim will be on your renewal price (you may need to do this as a new quote).

Lets say it has these effects:
Year 1 - £ 500 extra
Year 2 - £ 300
Year 3 - £ 150
Year 4 - £ 80

Total £1050. So in that instance it would be worth claiming.

probs with this method:
1- You have to declare accidents as well as claims and you would need to repeat the above exercise with it down as an accident not a claim
2 - You have to guess at the insurance costs over the years
3 - If you crash again and get a big bill anytime soon you're better off to claim this time around as you will only end up more out of pocket.

Just my 2p worth

[Markarina]

Also this could be a good time to point that if you have not informed your insurance company of modifications to car, then they may turn round and say that your insurance is not valid and then you will have to pay everything yourself

[nothelle300]

thanks for the help guys got two options now

1)Through insurance in which case i lose my 3 years ncb,and will have a claim on my license which sticks with me for 5 years and this year will stick my insurance up roughly £350

2)The person i had the accident with will have their car repaired by a local body shop at a good price (£300!)and i give them a bit extra as well!

Apparently the repair shop which the to the damaged car two(range rover sport!)wanted to replace the bumper/headlight/headlight trim/front wing/front inner wing!All for a scuff on the bumper!crazy!!!!!!!!!!