If you’ve read about the ins and outs of insurance excess payments and now understand what it is and why it’s there, you know that when you submit a claim to your car insurance company that you’re going to have to pay an excess. Yes, even if the accident wasn’t your fault.
If you’re insured with Budget Insurance and you’re unfortunately involved in an accident. If your claim is approved, we’ll cover most of the costs to repair your vehicle while you pay a smallanyana co-payment amount. But that doesn’t necessarily mean you’ll never see that money again – it might be possible for us to recover your excess and make you and your budget smile again.
How to recover an excess
If you were involved in an accident and it wasn’t your fault, there’s a chance you may be able to get your excess back or at least a portion of it. Your insurance company can help you recover this money. The reverse applies – if you were at fault, the other party’s insurer may attempt to recover their costs from you and your insurer.
The first rule for the best chance to recover your excess money is: Gather as much information as possible.
- At the time of the accident, fish out that notebook and pen gathering dust in the cubby hole and write down:
- Date and time
- Weather conditions
- Road conditions
- All the relevant personal details of the parties involved in the accident as well as any witnesses.
- Full name
- ID number
- Contact number
- Vehicle description
- Vehicle registration number
- Vehicle licence details
- Take photographs of the accident from as many different angles as possible and the licence discs of vehicles involved.
- Report the accident at the nearest police station to open a case as soon as possible.
When is excess recovery unlikely?
Obviously, if the accident was your fault there is a point trying to recover an excess – but unfortunately, there are situations where recovery isn’t possible even if it wasn’t your fault, for instance:
- If you’re the only person involved in an accident. (That pillar might have jumped out at you, but we can’t claim from it.)
- If you did not get the complete details of the person at fault.
- You didn’t report it to the police station.
- The guilty person doesn’t have income or assets with which to pay.
- The legal costs of recovering the money outweigh the excess amount.
- The guilty party cannot be traced
- The merits of the claim is too tricky to be worth the recovery of the excess.
Being involved in a road accident is at the very least inconvenient and just not worth the time, money, and headaches. Remember that if you were speeding when the accident happened, you are a guilty party, no matter what the other circumstances might be.
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