Uninsured motorist extension - 3rd party policies

netboy
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Uninsured motorist extension - 3rd party policies

Postby netboy » Wed Jan 18, 2012 9:42 pm

Does anyone have much knowledge of making an uninsured motorist claim via 3rd party policies? This is a feature of most (if not all) 3rd party property policies.

As most of you probably know, usually, the 3rd party policy PDS will state that when making this type of claim, you have to get a signed statement from the aggressor driver (or the vehicle owner) confirming that the vehicle was, at the time, uninsured (as well as other things, such as a Police report and evidence that the other party was at fault - usually 50-100% at fault).

I would imagine the statement confirming no insurance would be difficult to obtain in most cases, as the other party would realise that this will only enable the insurance company to chase them for the damages. the types of people that have no insurance are usually switched on to these things and would want to make it as difficult as possible for anyone to extract any money from them.

Does anyone know if, in the case that the driver/owner states on scene that their car is uninsured, a stat dec to this effect would suffice as far as the insurance company would be concerned (i.e. a stat dec along the lines of "the other party stated to me after they hit the rear of my vehicle that the car they were driving had no insurance")? I believe that due to privacy reasons, the insurance companies are not able or willing to interrogate a central database (if one even exists) to check a vehicle insurance status at a given time.

Finally, does anyone know of any 3rd party policies that provide more than 5k UME? 5k is the highest I have found and applies with RACV and Vero.

Thanks!

Hardy
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Re: Uninsured motorist extension - 3rd party policies

Postby Hardy » Wed Jan 18, 2012 11:11 pm

Most likely you could give your insurance company a stat dec, but you will need to check the terms of the contract (read the PDS) to see whether they specify what needs to be done. If they don't accept your stat dec and you think you have complied with the policy, then you can sue your insurers and the other driver and when the other driver turns up at court without being indemnified by an insurer that will quickly resolve that issue. The simplest thing to do is give your insurers the other party's phone number and they will call them to ask.

netboy
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Re: Uninsured motorist extension - 3rd party policies

Postby netboy » Sat Jan 21, 2012 11:55 am

Thanks!!

pcarr
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Re: Uninsured motorist extension - 3rd party policies

Postby pcarr » Thu Feb 02, 2012 9:36 pm

Hello all.

I am a general insurance broker with almost 10 years experience, including working at one of the main insurers in their motor vehicle claims unit.

As you will know, there are many nuances in insurance policies and this is one of many. That said, with the more reputable insurers (not the dirt cheap budget variety), there is a reasonable amount of practical application to this clause, so a signed declaration from the other driver isn't needed, and your insurer ascertains in their mind the responsible party.

What I would suggest is to issue a formal, legal letter of demand on the other party, which is something that can be done through a recovery agent or alternatively many panel beaters (they might take a percentage). This will likely prompt the other party in to action and lodge a claim if they are in fact insured, or if they're not insured you can hopefully proceed with having your vehicle repaired.

I hope that this helps.

netboy
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Joined: Wed Aug 10, 2011 12:24 am

Re: Uninsured motorist extension - 3rd party policies

Postby netboy » Wed Feb 08, 2012 2:16 pm

Thanks pcarr. Have you had much experience with Vero? What are they like to deal with?

pcarr
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Re: Uninsured motorist extension - 3rd party policies

Postby pcarr » Wed Feb 15, 2012 8:35 pm

I have. To a degree it depends on what side of the fence you're on - on their side as the insurer or up against them. They are admittedly one of the better insurers to have in your corner though.

If you like, send me an email on pcarr@rescom.com.au and perhaps we can organise to discuss over the phone if you'd like.


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