How Do I Make a Claim for my Moped Insurance?
If you need to make a claim on your moped insurance policy, you must contact your moped insurance dealer immediately to inform them. Your policy details should include a contact number for you to call in the event of an accident which will direct you to their claims department. You will then be asked a series of questions such as verification of your policy and third party details so your claim can be set up. Your bike insurance provider will then handle everything for you including third party correspondence. If your moped was covered in the policy (for example, a comprehensive policy) you will be asked to take your moped to be repaired. Once you have obtained a quote from the engineer you can send in a copy to you insurance company who will then pay the repairs minus your excess. Your excess is the amount you agreed to pay towards repairs when you set up your policy, this excess will have determined the cost of your premiums and is therefore not negotiable at this point.
If you are responsible for the incident, you may receive letters from the third party involved asking for repairs or an admission of fault. Make sure you do not respond to any such letters and send them in to your insurance company straight away. This will allow your insurance company to deal with the third party on your behalf and sort out their repairs if necessary/applicable.
If you only have third party only (TPO) or third party fire and theft (TPF&T) cover for your moped, you will need to pay for the repairs to your moped vehicle yourself. This is because these policies only cover the cost of repairs for the other vehicle in the incident so you don't have to worry about other people's vehicles if you are at fault for the incident. However, with the TPF&T policy your moped will also be covered in the event of a fire or theft of your moped but not if the damage was caused by a motor accident.
If you make a claim on your moped insurance policy you should also be aware that this could affect your no claims bonus and your premiums may go up on the following review. Therefore, in cases where no third party is involved some people may prefer not to make a claim on their policy to save money in the long term, especially if their excess is roughly the same cost as their repairs. If you have had an accident caused by the third party and the third party admits fault, your premiums are less likely to go up after a claim. However, regardless of this you should always notify your insurance company as soon as an incident occurs to ensure you are covered. Your insurance company will then be able to discuss your claim more thoroughly with you at that point.