Can anyone help me understand what I’m reading?
I recently tried to insure my new car, but I had an accident about a year ago (March 15th, as indicated). I never made a claim because I knew I wasn’t at fault. Now I’m confused—does this mean that my car, LD10, is being considered at fault for the accident? I just received an insurance quote for £4,000, and I’m feeling overwhelmed.
Also, what do the terms “TP” and “PHV” mean? I looked up PHV, but neither vehicle was a private hire, so I’m not sure what it refers to here. Thanks for any clarity you can provide!
Here’s the information from the database:
1. Claimant’s 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 deciphering some insurance jargon, and I can help clarify a few things for you!
Fault Determination: Based on the “Fault Non Fault: Fault” line in your database information, it seems that the insurance system has determined that you were at fault for the accident involving your vehicle (LD10), despite you not claiming any damages. It likely means that the other party (the one who was reversing) reported the accident and the insurance provider ruled in their favor, which can happen even if you believe you weren’t at fault. This determination could potentially affect your current insurance rates.
TP & PHV: In insurance terminology:
“PHV” may stand for “Public Hire Vehicle” or some insurance-specific terminology, but if neither vehicle was a private hire, it may refer to a specific classification used by the insurance company. It might be worthwhile to request clarity from your insurance representative on what “PHV” specifically means in your context.
Insurance Quote: The quote you’ve received for £4,000 seems exceptionally high. It’s possible that the accident listed is influencing your premiums since a fault determination can lead to higher rates. If the details aren’t correct or if you have proof that you were not at fault (like witness statements or police reports), consider discussing this with your insurance provider to see if they can reassess the situation.
Next Steps: Since you haven’t claimed yet and believe you’re being unfairly categorized, you might want to gather any evidence you have regarding the accident and reach out to the insurance provider for clarification and to dispute the fault ruling if needed.
I hope this helps you make a bit more sense of your situation! If you have more questions or need further assistance, feel free to ask.