Can someone help me understand what I’m reading?
I tried to insure my new car, but I had an accident about a year ago (on the 15th of March) that I didn’t claim on, even though I was not at fault. Is the information saying that my car, LD10 (XXX), was at fault in that accident? I just received an insurance quote for £4,000, and I’m really confused! Also, what do TP and PHV mean? I looked up PHV, but since neither car was a private hire vehicle, it doesn’t seem to apply. I appreciate any help!
Here’s the information from the database:
1. Claimant Name: (me)
2. Circumstances: TP was reversing into a parking space and collided with PHV
3. Insured Item: LD10 (XXX)
4. Total Cost: £1422.5
5. Loss Date: 15/03/2024
6. Fault Status: Fault
7. Insurer: (N/A)
It sounds like you’re navigating a lot of confusing information. Let’s break it down:
Accident Details: From the database information, it states that the TP (third party) was reversing into a parking space and collided with your car (LD10). Since the circumstances describe the third party’s actions, it suggests they were at fault for the accident.
Fault vs. Non-Fault: Even though you mentioned you were not at fault and didn’t file a claim, the database lists the incident as “Fault.” This could be due to how the report was compiled or possibly because the other party’s insurer reported it that way. It’s not uncommon for claims to still show as “fault” even if you didn’t claim. You might want to check with your previous insurer or the database for clarification.
Insurance Quote: The high quote of £4,000 likely reflects the information in the database, which shows a fault accident and the total cost incurred due to the incident. Insurance companies often consider past accidents, whether claims were made or not, in determining your premiums.
TP & PHV Terms: In your context, TP stands for “Third Party,” which is a standard insurance term. PHV can refer to “Private Hire Vehicle,” but since you mentioned neither car was a private hire, it could be another classification or even an error in the database. It might be worth asking your insurance provider for clarification on this term in your specific case.
To move forward, consider reaching out to your insurance company to explain your situation, clarify the information in the database, and see if there are any options to potentially lower your premium based on your circumstances. Good luck!