MOTORING NEWS - Mandy Barrett of insurance brokerage and risk advisors Aon South Africa advises readers on what to do if involved in an accident.
"Never accept liability in an accident - it is the job of the insurance assessors to work out who is responsible. Your insurer and broker will handle all third party dealings in order to recover your excess and reinstate your no-claim bonus if the accident was not your fault. You don't want to compromise this process by accepting liability that is not yours," explains Mandy.
At the scene of the accident, make a note of the information straight away. It is often much harder to obtain the information after the fact, making it crucial to be thorough in your efforts.
- Firstly, make sure you are safe from other passing traffic
- Take down the registration and licence disc number of the other car
- Get details of the make, model and colour of the car.
- Ask for the driver's licence and/or ID book and take down the details
- Get the other driver's insurance details
- If there are any witnesses, obtain their names and contact information
- Take photos, where possible of the damage and scene, as well as important documents such as the licence disk and driver's licence. A cell phone with built in camera is very handy in such a situation, but also make hand written notes.
- Write out a detailed recount of how the accident happened before you forget any details - include lighting, weather, road conditions and so on.
- Make sure you report the incident to the police within 24 hours and get a case number. This is essential for both parties.
In the event of a third party not being insured, your insurer will honour your claim.
"If you have insurance, but get into an accident with someone who doesn't, different scenarios apply depending on your insurer. You are most likely going to have to pay the excess for any repairs to your vehicle. Your premium could increase as a result of the claim due to the loss of your no claims bonus. Make sure you discuss these finer details with your broker so you know exactly what would happen in such a situation," urges Mandy.
Mandy explains insurers go through stringent processes to vet their service providers to ensure that their products and services adhere to an acceptable standard and that everything is above board. "It is in your best interest to work with insurer approved suppliers so that you know you have the back-up of a guarantee and recourse in the event that the repairs are not up to standard," she says.
If your vehicle is a much older model, you may find that it's is no longer economical for insurers to repair and they may want to scrap the vehicle. "This may not be the best financial outcome for you. In certain circumstance, your broker may be able to negotiate on your behalf with the insurer to repair the vehicle using legitimate reconditioned or second hand parts that are still in perfectly good condition. This may make the vehicle more economical to repair relative to its market value."
The services of a professional broker could well prove to be invaluable in evaluating your motor insurance policy.
"A professional broker will be able to facilitate the making of a well-managed insurance programme that accounts for your unique needs and risk profile, while matching your available budget. Your broker will also be able to confirm exactly what you are covered for and whether any exclusions or special conditions exist on your policy. A broker can ensure that you are in good hands and that there are no surprises waiting for you come claims time," concludes Mandy.
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