Damage to a car’s bodywork, whether it is wear and tear from daily use such as dents or scratches or more serious damage resulting from a collision, occurs commonly. In many cases people assume that this damage can be repaired through insurance without financial cost. However there are a number of factors to consider when claiming your car insurance for bodywork.
One of the biggest problems we see is people lightly claiming on their insurance policy without thinking of the potential repercussions which will ensue. Regardless of the payout which an insurer provides, there are likely to be further hidden costs for you, which you may only become aware of later, when it is too late. Before committing to an insurance claim for damage to your vehicle’s bodywork there are pros and cons which should be weighed up. Here are the top tips to include when claiming your car insurance for bodywork:
Your insurance policy excess: Whenever an individual claims from their insurer there is always a contributory cost which is required from the customer. Typically, there are two forms of excess, compulsory and voluntary. Prior to taking out a claim you need to investigate what the excess of your policy is. If the costs do not exceed your excess then you should not claim on your insurance.
How a claim will affect your no claims bonus: Insurance companies reward customers who do not make claims, through a no claims bonus which means lower insurance premiums. As soon as an individual makes a claim, regardless of its size, they lose their no claims bonus and subsequently their premiums increase.
In the case of a simple and inexpensive repair to bodywork, this could mean larger subsequent costs from higher premiums than is saved as a result of the claim. If you are in doubt as to whether a claim is financially viable compared to the increased premiums then it is advisable to ask for a quote of the expected costs of your insurance premiums without your no claims bonus.
Consider increased premiums: for those who do not have a no claims bonus, the cost of their insurance premiums will still increase following a claim. Insurance companies have learned that people who make one claim are likely to make another, meaning paying out more money at a later date. Due to this there is an increased risk of a later pay out, meaning that the customer pays more money in the form of greater premiums. Before claiming for damage to your bodywork, weigh up the cost of paying it yourself against the resultant increased premiums from a claim.
If you still have any thoughts or questions about claiming your car insurance for bodywork, contact us now! We are gladly to talk to you.
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