Accepting split insurance offers

I would be taking it to court because it was his fault!

I don't have full comp so I would get nothing for the bike (written off) and the 6 weeks I spent in a sling.

Originally Posted by thor

I would be taking it to court because it was his fault!

I don't have full comp so I would get nothing for the bike (written off) and the 6 weeks I spent in a sling.

If they are 80% at fault (if you accept the offer), then to my thinking, there's a value for the bike as a write off. Their insurance would pay you 80% of that value, leaving usually (if you were fully comp) your's to stump up the extra cash so you could buy a bike again.

Since you're not FC, you might have to come up with the 20% yourself, but even without court, you should get some money.

I had to accept 60/40 because my insurers weren't prepared to go to court in case the court settled < 60/40 in which case they would have had to pay the court costs, apparently

I had almost 2 years no claims and lost the lot in accepting a 66/33 split. Depends on the value of the bike and how much you're willing to chase the other person/fight for it. I reckon it was worth it in my case - saved loads of extra hassle and waiting and fighting for the sake of a couple of hundred quid. I dropped from comprehensive cover to 3PFT when I got the next bike and this summer I'll be back up at 2 years NCB and I won't have to declare the accident any more, so all clear.

[Kylie]

I'm in the same position as you. Insurer's have just sent me a letter saying the muppet that hit me won't budge so they've told their solicitor to start proceedings. I'd prefer him accepting liability of course, but if it goes to court I'll be there fighting my corner, quite looking forward to it in a perverse sort of way.

I'd have thought the amount you recover is quite significant, insurers will generally ask you how much a claim was for before giving you a quote, but getting all costs recovered and a clear record has to be worth more. If like me you are sure you were in the right then you have to contest really....

Argh! I have to make a decision now!

So I looked at the costs.

My liability to him is covered by my third party ins. So if I accept the offer, I loose the bonus. I reckon that's worth about £1000 in the long run. If take it to court and win 100% I keep it. Any other split, and I loose it.

My liability to the legal people, engineers etc is covered by another insurance policy, so nothing to worry about there.

As for my own costs, they total about £5000 (with the minimum value for the personal injury claim, could be another grand or so). So therefore I stand to lose out on at least £2000 by accepting the offer. If I take him to court, I could lose of course. If it goes 50:50 then I could lose out on
£3500.

Seems pretty obvious that I should fight him! What does the org think?

Depends on your financial position, but even though I'm a pauper, I'd take it all the way.

Ok here's another idea.

Would it be possible to settle direct with the driver? The thinking I would pay
for the damage to his car in return for him accepting complete fault. That way I get 100% from his insurers and keep my bonus. He stands to lose his bonus in any case. Basically I guess his costs are a lot lower than mine. Is this something that could be done? I'm guessing the insurers wouldn't be so pleased though!

Hi thor. How about accepting the 80/20 and then you paying for his 20%. That way you claim 80% of your losses from his insurers and then you pay the 20% for his claim. With zero TP claim paid out by your insurance company you should not loose your bonus.

Of course you would have to do the financial maths to make sure you were quids in at the end but you should be able to make the deductions from your claim and simply receive the balance. If that makes sense!

A claim is a claim is a claim. Makes no difference is it is 5% or 95%.

Of course in a ideal world you would go to court and win 100% but life ain't always like that!!!!

Good luck.

Hi Slippery,

Thanks for the idea, it's a good one. I'll see what the solicitor thinks!