Every day, there are a huge number of road traffic accidents involving a variety of vehicles such as cars, vans and lorries. Some of these may be minor scrapes the repair cost of which, in some cases, may be less than say £100.
If you are involved in a road traffic accident that results in damage to either another vehicle, your car or both or damage to other property or injury or death to people then you should inform your motor insurance provider even if there is only minimal damage to a vehicle.
According to research by LexisNexis Risk Solutions, a staggering 58% of drivers admitted that if the cost of repairing their vehicle was below the excess on their car insurance policy then they would not bother to let their insurance company know about the incident.
Why would a motorist decide upon such a course of action? Well, one reason may be that he or she may be concerned that if they tell their insurer their motor insurance premium may increase. This may well be the case.
Whilst, at first glance, a minor accident may appear to have caused no major damage to a vehicle, can you imagine the potential implications if it was later found that the incident had resulted in some other form of damage to the vehicle making it unsafe to drive that, subsequently, may result in a more serious incident taking place.
If you do not inform your insurer about the incident and it subsequently comes to the attention of the insurance company then they could refuse to provide you with cover and cancel your policy. As a result, you may find it harder to obtain alternative cover and, if you can, you may find that the cost of arranging suitable insurance has risen substantially.
So, if you are involved in a road traffic accident no matter how minor, do let your car insurance provider know about the incident.