Will reporting an accident to your insurance company make your insurance cost go up?

[Frogmountain]

Minor fender-bender and the other person left the scene already after asking for money (not paid)... but they know where we live, so we're wondering if we should cover ourselves.

[IMHO]

Your NCB will only be effected if you can't ID the perp, or it was your fault.

[Frogmountain]

We can't ID them. It was a motorbike driver and his passenger. We have no idea who they are. So it sounds like we should not report this to insurance.

[richard_smith237]

I don't think its a big issue. If you have a minor bump its not compulsory to claim off your insurance, thus I don't see it as being compulsory that you inform them.

If the other party wishes to make a claim against you, then you will either handle it directly (no insurance) or you inform them and let them handle it.

Any yes: any time you claim from your insurance your no-claims bonus will be reset, additionally some insurance may increase your premium to cover the additional cost of your previous claim !!... (you can switch insurance if they try that, its not really smart business practice)

Edited November 13, 2013 by richard_smith237

[IMHO]

We can't ID them. It was a motorbike driver and his passenger. We have no idea who they are. So it sounds like we should not report this to insurance.

In that case, my suggestion is ringing your insurance co and simply asking them if this claim would effect your NCB. They're not going to penalize you for asking

BTW, check the threads on dash cams

[Frogmountain]

Thank you, everyone!

[VocalNeal]

BTW, check the threads on dash cams

How will a dash cam help your no claims bonus, if you make a claim. If the other guy has no insurance and no money, the insurance company may fix your car and still reset your no claims bonus.

Note it is called a no claims bonus, not a did not pay bonus. If you make a claim the insurance company will do whatever is best for them, not you.

OP if the cost of the repair is less than your deductible + the loss of your no claims bonus simply have it fixed and pay for it yourself.

Might be worth noting here that is you have a heavily modified car with expensive parts, once you make a claim the insurance company may decide to write off your car and pay you out. Then sell all your expensive parts and end up ahead!

Edited November 13, 2013 by VocalNeal

[IMHO]

BTW, check the threads on dash cams

How will a dash cam help your no claims bonus, if you make a claim. If the other guy has no insurance and no money, the insurance company may fix your car and still reset your no claims bonus.

Note it is called a no claims bonus, not a did not pay bonus. If you make a claim the insurance company will do whatever is best for them, not you.

OP if the cost of the repair is less than your deductible + the loss of your no claims bonus simply have it fixed and pay for it yourself.

Might be worth noting here that is you have a heavily modified car with expensive parts, once you make a claim the insurance company may decide to write off your car and pay you out. Then sell all your expensive parts and end up ahead!

Assuming 1st class insurance - if you can ID the party in the wrong (license plate is enough), it doesn't matter if they get money from them or not - your car gets fixed and your NCB is unaffected.

Edit: Also, if you have a modified car and haven't informed your insurer, they can cancel the policy. Even just changing the tail lamps is enough, if they didn't get the oppt'y to re-asses the risk.

Edited November 13, 2013 by IMHO

[Ace of Pop]

Oh Those Dashed Dash Cams i'm Dashed if i Dash anywhere with one. Toys for Boys. 1St Class insurance, Dashed Good What..