DS has crashed his car tonight, thankfully only him involved and he’s not hurt.
The car is almost certainly a write off. We have in haste rung the insurance, although it was a third party out of hours service that has recovered the car and taken it into storage for the weekend.
Car worth about £1k, insurance cost £4k just three weeks ago. Guessing excess is approx £500 but need to double check.
Now they have collected the car. Are we obliged to continue with the claim or can we get it back (and pay the costs) and scrap the car. I understand we still have to report the accident but if we claim, I assume the insurance will automatically end and we lose all the £4k. If we don’t claim, will they allow us to transfer the policy to another vehicle?
Any other suggestions on the best way financially to deal with the above situation.