Insurance write off question
Discussion
This is a new situation for me so I hope someone on here can help:
My son and heir (not that there is going to be much of an inheritance now) passed his test 3 weeks ago. New insurance for our runabout with me as main and him as named driver. This morning he put it onto it's roof in talent/cornering imbalance (bruised knee and pride only)
So cost of car £2300 minus excess for him £700. Insurance cost £1400 but only first instalment paid so far. But insurance contract is for 12 months isn't it? So if I can find another motor do we carry on, and brace myself for a reaming at renewal time?
Or take the payout and invest it coke and hookers?
His big sister just used to play bumper cars, nothing in this league. And SWMBO blames me, but you already know that
Many thanks
My son and heir (not that there is going to be much of an inheritance now) passed his test 3 weeks ago. New insurance for our runabout with me as main and him as named driver. This morning he put it onto it's roof in talent/cornering imbalance (bruised knee and pride only)
So cost of car £2300 minus excess for him £700. Insurance cost £1400 but only first instalment paid so far. But insurance contract is for 12 months isn't it? So if I can find another motor do we carry on, and brace myself for a reaming at renewal time?
Or take the payout and invest it coke and hookers?
His big sister just used to play bumper cars, nothing in this league. And SWMBO blames me, but you already know that
Many thanks
Sorry for the delay, got on plane for week in Lanzagrotty after posting. Not what I was planning the day before departure. So here we go with short story long:
Original runabout was bought in 2003 when I had job move into a rough neck off the woods and did not want to use my nice but not mint 205 GTi. 3 weeks later whilst parked up outside work it was collected from both ends in a 4 vehicle incident. Would have written the 205 off. Car the caused that mess had 4 asylum seekers in it, 200 miles from RK's home address and clearly none of them were him. My insurers notified about the crash and told to chase him for repair bills and car hire costs. Kept my NCB.
Later runabout1 saw service with our eldest learning to drive, then added as named when she passed. Quickly clear that getting her own runabout would be good idea if I wanted to keep runabout1 on the road. Funded by me, insured by her. Not so long later woken in wee small hours by BIB: her runabout trashed in street in alcohol/weed/crowbar mashup by 2 lads she was knocking about with. "restorative justice" funded it's replacement. Nice little car at nice price so a few quid back to me too. Alas bumped twice in quick succesion so she decided she would give up driving "for a while".
Runabout1 still doing sterling service for us several years later, including short term loan to eldest and her OH when theirs was indisposed. Plan was it would see son & heir through his test and away to Uni (not with the car but with some NCB under his belt) and then call it quits. Often used by me for many futile "please let this be the E46M3 I've been waiting for" trips. All good.
Until about this time last year when SWMBO bumped it into the NSR quarter of a Picasso and into a ditch. At this time her as RK but only TPF&T as not worth much. Insurer aware as whiplish claim from the Picasso. I would not have claimed for 2nd hand wing, light, spray can and cable ties to fix anyway. SWMBO but her marker down saying she will never even go in runabout again EVER. Unless pished and alternative is walking.
So son & heir turns 17 and added as learner to remaining 3 months of policy (for a monkey or so). Come renewal quote is £2500+ because of open whiplash claim so go to specialist learner insurer. Their deal is car must be registered to son & heir with him as policyholder and me as named driver. If it takes him more than 12 months to pass test they will give NCD on renewal. Remember SWMBO not joining in the fun of teaching him to drive
Then runabout1 starts having clutch problems and just when I think that is sorted without too big a bill, stutters to a halt with failed ECU. Just after Xmas. At which point I need a cold beer to blank out the squeals from my girls in the pool. Tbc
Original runabout was bought in 2003 when I had job move into a rough neck off the woods and did not want to use my nice but not mint 205 GTi. 3 weeks later whilst parked up outside work it was collected from both ends in a 4 vehicle incident. Would have written the 205 off. Car the caused that mess had 4 asylum seekers in it, 200 miles from RK's home address and clearly none of them were him. My insurers notified about the crash and told to chase him for repair bills and car hire costs. Kept my NCB.
Later runabout1 saw service with our eldest learning to drive, then added as named when she passed. Quickly clear that getting her own runabout would be good idea if I wanted to keep runabout1 on the road. Funded by me, insured by her. Not so long later woken in wee small hours by BIB: her runabout trashed in street in alcohol/weed/crowbar mashup by 2 lads she was knocking about with. "restorative justice" funded it's replacement. Nice little car at nice price so a few quid back to me too. Alas bumped twice in quick succesion so she decided she would give up driving "for a while".
Runabout1 still doing sterling service for us several years later, including short term loan to eldest and her OH when theirs was indisposed. Plan was it would see son & heir through his test and away to Uni (not with the car but with some NCB under his belt) and then call it quits. Often used by me for many futile "please let this be the E46M3 I've been waiting for" trips. All good.
Until about this time last year when SWMBO bumped it into the NSR quarter of a Picasso and into a ditch. At this time her as RK but only TPF&T as not worth much. Insurer aware as whiplish claim from the Picasso. I would not have claimed for 2nd hand wing, light, spray can and cable ties to fix anyway. SWMBO but her marker down saying she will never even go in runabout again EVER. Unless pished and alternative is walking.
So son & heir turns 17 and added as learner to remaining 3 months of policy (for a monkey or so). Come renewal quote is £2500+ because of open whiplash claim so go to specialist learner insurer. Their deal is car must be registered to son & heir with him as policyholder and me as named driver. If it takes him more than 12 months to pass test they will give NCD on renewal. Remember SWMBO not joining in the fun of teaching him to drive
Then runabout1 starts having clutch problems and just when I think that is sorted without too big a bill, stutters to a halt with failed ECU. Just after Xmas. At which point I need a cold beer to blank out the squeals from my girls in the pool. Tbc
So I start looking for runabout2. Too many days off and weekends in the wettest winter ever (I do appreciate not like being marooned in the Somerset levels) instead of spannering my winter project. As SWMBO has washed her hands of the affair and aware that S&H might just do something daft I thought I might try Shed-or-thereabouts budget. Nothing doing. 18 months before I had found a good little car for eldest & fiance for £1700 so surely that was enough? Still nothing doing. Blame the scrappage scheme. Even at double Shed level most cars had obvious faults. Finally track one down just a few miles from work and strike a deal at £2300. Reasoning that SWMBO could not pull face at this and with luck would run nicely until middle daughter ready to learn
Specialist learner insurer happy to insure on same basis: S&H must be RK and policy holder. All good. About 5 weeks after picking up runabout2 passes test. Specialist learner insurers best offer is £2800. Go back to original insurers (longstanding customers, both dailies with them, runabout1 been through them for years). Long phone calls to explain how/why of it all. Don't like S&H as RK, so agree to change paperwork. Agree I paid for car and will be paying for tax/fuel/service etc as he has no money. Will still be going to school on bus (which I also pay for). Genuinely not fronting
Day before incident I would have used runabout2 for 170 mile transpennine round trip to look for "that" M3, but he "needed" it for short local hop with no public transport. So who is main user?
Day of incident fine and dry. NSL road but not one he knows. Sharp bend. Understeers into outside kerb, crosses to opposite steep tall verge/bank. Angle of attack provides gentle roll onto nose/bonnet/windscreen header rail. Eyewitness says speed not excessive (except for talent/experience). Police guestimate 40 mph and agree no action post breathalyser. No other vehicle or third party/property damage. Roof not "crushed" as SWMBO states but doubt cost effective repair
So if insurers accept not fronting seems like 2 options. Claim and end up a few quid up but bad claim history and no runabout. Brace for painful renewal. Or not claim, fund cost of runabout3 myself and continue policy. Make clear to S&H his plums are on the line. Still brace for painful renewal.
He's got more time for revising now anyway
Specialist learner insurer happy to insure on same basis: S&H must be RK and policy holder. All good. About 5 weeks after picking up runabout2 passes test. Specialist learner insurers best offer is £2800. Go back to original insurers (longstanding customers, both dailies with them, runabout1 been through them for years). Long phone calls to explain how/why of it all. Don't like S&H as RK, so agree to change paperwork. Agree I paid for car and will be paying for tax/fuel/service etc as he has no money. Will still be going to school on bus (which I also pay for). Genuinely not fronting
Day before incident I would have used runabout2 for 170 mile transpennine round trip to look for "that" M3, but he "needed" it for short local hop with no public transport. So who is main user?
Day of incident fine and dry. NSL road but not one he knows. Sharp bend. Understeers into outside kerb, crosses to opposite steep tall verge/bank. Angle of attack provides gentle roll onto nose/bonnet/windscreen header rail. Eyewitness says speed not excessive (except for talent/experience). Police guestimate 40 mph and agree no action post breathalyser. No other vehicle or third party/property damage. Roof not "crushed" as SWMBO states but doubt cost effective repair
So if insurers accept not fronting seems like 2 options. Claim and end up a few quid up but bad claim history and no runabout. Brace for painful renewal. Or not claim, fund cost of runabout3 myself and continue policy. Make clear to S&H his plums are on the line. Still brace for painful renewal.
He's got more time for revising now anyway
So I start looking for runabout2. Too many days off and weekends in the wettest winter ever (I do appreciate not like being marooned in the Somerset levels) instead of spannering my winter project. As SWMBO has washed her hands of the affair and aware that S&H might just do something daft I thought I might try Shed-or-thereabouts budget. Nothing doing. 18 months before I had found a good little car for eldest & fiance for £1700 so surely that was enough? Still nothing doing. Blame the scrappage scheme. Even at double Shed level most cars had obvious faults. Finally track one down just a few miles from work and strike a deal at £2300. Reasoning that SWMBO could not pull face at this and with luck would run nicely until middle daughter ready to learn
Specialist learner insurer happy to insure on same basis: S&H must be RK and policy holder. All good. About 5 weeks after picking up runabout2 passes test. Specialist learner insurers best offer is £2800. Go back to original insurers (longstanding customers, both dailies with them, runabout1 been through them for years). Long phone calls to explain how/why of it all. Don't like S&H as RK, so agree to change paperwork. Agree I paid for car and will be paying for tax/fuel/service etc as he has no money. Will still be going to school on bus (which I also pay for). Genuinely not fronting
Day before incident I would have used runabout2 for 170 mile transpennine round trip to look for "that" M3, but he "needed" it for short local hop with no public transport. So who is main user?
Day of incident fine and dry. NSL road but not one he knows. Sharp bend. Understeers into outside kerb, crosses to opposite steep tall verge/bank. Angle of attack provides gentle roll onto nose/bonnet/windscreen header rail. Eyewitness says speed not excessive (except for talent/experience). Police guestimate 40 mph and agree no action post breathalyser. No other vehicle or third party/property damage. Roof not "crushed" as SWMBO states but doubt cost effective repair
So if insurers accept not fronting seems like 2 options. Claim and end up a few quid up but bad claim history and no runabout. Brace for painful renewal. Or not claim, fund cost of runabout3 myself and continue policy. Make clear to S&H his plums are on the line. Still brace for painful renewal.
He's got more time for revising now anyway
Specialist learner insurer happy to insure on same basis: S&H must be RK and policy holder. All good. About 5 weeks after picking up runabout2 passes test. Specialist learner insurers best offer is £2800. Go back to original insurers (longstanding customers, both dailies with them, runabout1 been through them for years). Long phone calls to explain how/why of it all. Don't like S&H as RK, so agree to change paperwork. Agree I paid for car and will be paying for tax/fuel/service etc as he has no money. Will still be going to school on bus (which I also pay for). Genuinely not fronting
Day before incident I would have used runabout2 for 170 mile transpennine round trip to look for "that" M3, but he "needed" it for short local hop with no public transport. So who is main user?
Day of incident fine and dry. NSL road but not one he knows. Sharp bend. Understeers into outside kerb, crosses to opposite steep tall verge/bank. Angle of attack provides gentle roll onto nose/bonnet/windscreen header rail. Eyewitness says speed not excessive (except for talent/experience). Police guestimate 40 mph and agree no action post breathalyser. No other vehicle or third party/property damage. Roof not "crushed" as SWMBO states but doubt cost effective repair
So if insurers accept not fronting seems like 2 options. Claim and end up a few quid up but bad claim history and no runabout. Brace for painful renewal. Or not claim, fund cost of runabout3 myself and continue policy. Make clear to S&H his plums are on the line. Still brace for painful renewal.
He's got more time for revising now anyway
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