When you have a car accident, if its your fault and the other person claims from your insurance... do you have to pay for the excess?
2007-10-18 04:33:07 · 18 answers · asked by XPINKX 2 in Cars & Transportation ➔ Insurance & Registration
The "excess" (also sometimes called ‘deductible’ or ‘non-waiver’ portion’) is what you agree to pay in the event of an accident. So you have to pay that portion and If you have like $10,000.00 coverage and the damage is above that, you will be responsible for the different. The other person can bring a law sue to you for the rest personally.
Sorry and good luck!!!
2007-10-18 06:51:11 · answer #1 · answered by TRANSLOPEDIA 4 · 1⤊ 1⤋
OK, this getting out of hand with answers.
Assuming you have a UK car insurance policy :
If you have a comprehensive policy and you are at fault, YOU pay for the excess for the damage sustained to YOUR car. Any damage to a third party car is paid for in full, INCLUDING the 3rd party excess by your insurance company. This is by way of a separate cheque for their excess to recover their outlay. If the 3rd party has lost any NCB as a result of this claim, they can show a copy of the cheque to their insurance company to prove that they were not at fault and thus, reinstate their no claims bonus.
2007-10-21 07:55:32 · answer #2 · answered by Ian W 2 · 0⤊ 0⤋
You will only have to pay if the claim won is greater than your existing coverage. That very rarely happens, as most states require a minimum of $100,000 liability coverage. If you caused more than $100,000 worth of damage then paying the excess is the least of your worries. Unless they were driving a Ferrari or Rolls Royce or something then their car is worth no more than $30,000 IF it is a very nice vehicle and VERY new, AND you would have had to total it to be responsible for that much, so unless there were extensive injuries then you don't have anything to worry about. Aside from your rates going up of course, which you can rest assure that they will, unfortunately. And, you only have to pay your deductible if you are claiming for your own damages, and of course you can only do that if you have collision coverage.
2007-10-18 06:00:38 · answer #3 · answered by Josh 6 · 0⤊ 0⤋
If the amount of the loss exceeds your coverage limits the claimant can sue for the excess from you directly. Generally it would be the other persons carrier that would do the litigation to recoup as much money to repay the amount they had to pay since most (This can vary by state) carriers will pay out in excess while charging their insured the deductible.
So short answer, yes you are liable for any costs that are in excess of the coverage you have purchased.
2007-10-18 04:46:09 · answer #4 · answered by sb_vlad 2 · 0⤊ 1⤋
Unless you have a third party excess (technically ilegal) then you won't have to pay anything. The only company I know of that has this excess is Easymoney (Low cost no frills car insurance)
2007-10-22 03:14:56 · answer #5 · answered by welcome news 6 · 0⤊ 0⤋
You have to pay the excess and your insurance company will pay the rest.
2007-10-18 06:34:21 · answer #6 · answered by Scouse 7 · 0⤊ 0⤋
when you have a accident.no matter who is to blame,you have to pay the excess,on fully comp,if third party it takes longer as you have to prove it is the other parties fault,if you are tpft and you run into some one you have to pay for theire damage and your own,but what if the other person has no insurance well tough ,ther is now an add on to your insurance that you pay for £30/50 extra to cover that out come. good luck
2007-10-18 05:30:52 · answer #7 · answered by Hamish K 2 · 0⤊ 1⤋
If its your fault, it will come off your liability insurance. When that is all taken out and there is still some damages to be paid for....the person you hit will file under there Underinsured/Uninsured coverage and then pay for it from there insurance and then there company will go after or subrogate your insurance company for the amount they covered. So in essence yes.
2007-10-18 04:42:07 · answer #8 · answered by Anonymous · 0⤊ 1⤋
You will pay your deductable and the insurance company would pay for all damages covered by your insurance agreement. There is a maximum amount that an insurance company will pay but generally that amount is rarely met. Anything over this maximum would be your responsibility.
2007-10-18 04:38:59 · answer #9 · answered by Einstein 3 · 1⤊ 2⤋
...........if you have insurance.........and the damages exceed your coverage limit........yes. You are responsible for the amount of owed damages above your coverage limit.
?
If you have $7500 liability coverage limit and the damages are $10,000. Your insurance company will pay the $7500 and the other person may try to pursue you for the difference of $2500.
Do they always try to pursue you.....depends on whether or not you are 'collectible'.
Hopefully you have enough coverage to protect you from that kind of situation.
Goodluck!
~jifr!
2007-10-18 08:01:25 · answer #10 · answered by Jifr 4 · 1⤊ 0⤋