Can someone help me understand this? I’m trying to insure my new car, but I came across some information about an accident I had about a year ago (as noted on March 15). Although I never filed a claim because I knew I wasn’t at fault, the quote I just received for insurance is £4,000 😭. It mentions that my car, LD10, is considered at fault. Is that correct, or am I misunderstanding this? Also, what do TP and PHV mean? I searched for PHV, but neither vehicle was a private hire, so I’m a bit confused. Thank you for any insights!
Here’s what the database shows:
1. Claimant: (me)
2. Circumstances: Third Party (TP) was reversing into a parking space and collided with Private Hire Vehicle (PHV)
3. Insured Item: LD10 (XXX)
4. Total Cost: £1,422.50
5. Loss Date: 15/03/2024
6. Fault Status: At Fault
7. Insurer: (N/A)
It sounds like you’re dealing with a confusing situation, so let’s break it down.
Fault Designation: The notation “Fault” under the “Fault Non Fault” category likely means that the other party (TP, which stands for Third Party) was deemed at fault in the accident you mentioned. It seems that the accident involved their vehicle reversing into a parking space and hitting your car (LD10). Since you stated that you were not at fault and also did not make a claim, it might be that the report is indicating the other party’s insurance accepted liability for the accident.
Insurance Quote: The high quote of £4,000 could be due to a few factors. Insurers often look at your driving history, and despite not claiming, the accident showing up in the report could still impact your premium. You might want to shop around or negotiate with different insurers to find a more reasonable rate.
TP and PHV: TP refers to Third Party, which means the other driver involved in the accident. PHV typically stands for Private Hire Vehicle, which in this case seems to denote the type of vehicle involved in the incident (possibly a taxi or similar service), even if the vehicles involved were not used for hire at that time. It’s worth checking with your insurer for a precise definition in this context.
Next Steps: I would recommend reaching out to your insurer directly for clarification. Make sure they understand the context of the accident and your non-fault status. This can sometimes lead to a reassessment of your premium.
Feel free to ask if you have more questions or need further clarification!