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Insurance claim on lease car

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Hey all, I've had a slight prang on my lease car (bloody bollard!). It's a Peugeot 208 GTi Prestige through NVS. Peugeot Finance are both the Registered Owner and Registered Keeper of the car. … Read More
emJayO Avatar
3m, 4d agoPosted 3 months, 4 days ago
Hey all,

I've had a slight prang on my lease car (bloody bollard!).
It's a Peugeot 208 GTi Prestige through NVS. Peugeot Finance are both the Registered Owner and Registered Keeper of the car.

Has anyone got any experience of making an insurance claim on lease cars?
Who do I need to inform? NVS? Peugeot Finance?

Thanks in advance!
emJayO Avatar
3m, 4d agoPosted 3 months, 4 days ago
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#1
I had someone hit our lease car. Their fault but doubt it makes a difference. I read the terms and basically it said it has to be repaired to an acceptable standard or they'll charge you for it.
Nothing about contacting them.

Edited By: f34r on Jan 19, 2017 08:47
#2
How bad is it ? Cos if you get it repaired and it's not deemed adequate by the guy who inspects it , you will get another bill anyhow .
#3
"Slight prang" suggests repairable. Tell ins co who will arrange repair. Car is handed back at end of lease. Lease co or designated agent will consider condition of car on return as per usual.
#4
It would need to be repaired to a standard acceptable by the lease company on their end-of-lease return inspection.
Insurance companies have deals with a large bodyshops so the work all goes through them, rather than individual garages.
#5
Leased a 1 series years back and one day a massive dent appeared in the driver side door. Truly huge. White car (never again by the way) with a nasty black mashed in door.


Took it to a different BMW dealer than the one I got it from and they quoted over a grand after a quick inspection. Wanted to put a new door on it.

Got a local bodywork shop to do it, cash in hand, including respray. Under £300.

Couldn't believe how perfect the door was. Just perfect. Couldn't tell from any angle.

Think they said they suck the dent out, then fill it in with something, sand it, and respray it. The respray they said was harder than the dent work!

Anyway, as long as it didn't damage some other part of the door on the inside, it's an easy thing for them to do apparently.

Best part is, lease co. never found out after giving the car back. (Though I was warned they use some fancy space beam gadget to check for repairs).
#6
You need to check your documents but, as people said above, you shouldn't need to tell Peugot or the lease company. When the vehicle goes back, they may charge you for damage beyond what they deem acceptable - they should have told you what this is at the start of the lease. I have a Merc and got a detailed booklet showing what was OK and what would be chargeable.

Personally, I would get it repaired at my own cost and not risk it as lease companies will charge through the nose if they do decide it's not acceptable. Obviously you can choose to claim through your own insurance if you like but, for a small dent or scratch, you're probably better off just doing it yourself to avoid loss of no claims and the inevitable larger increase than normal in premiums.

Unless there is damage to a third party then there's no legal need to inform your insurance company.
#7
My partner has a spray shop, he gets a lot of people get lease cars fixed with him as they charge so much for a repair. If it's only slight and no other cars involved to claim against you might be worth getting some local independent quotes
#8
who owns the car is irrelevant. The insurance is (should be!) in your name. Contact the insurer and arrange a repair. But, as most people have pointed out in the long run (increased premiums etc) it might just be cheaper to arrange a repair privately. No need to contact lease company for either option.
#9
Begize
Unless there is damage to a third party then there's no legal need to inform your insurance company.

That's not correct. An insurance contract is governed by the doctrine of 'uberrimae fidei' - utmost good faith. It means you are obliged to inform the insurer of anything which might affect their assessment of your risk. An accident involving damage, whether to a third party or not, is something that has to be disclosed. In the worst case, failure to disclose could leave a driver uninsured when they need it most.
#10
When you take our your insurance policy, you are contracting with the Insurance Company. So in terms of the claim on your insurance to repair the damage to the vehicle, you should contact the insurance company you have the policy with.

On an insurance policy I had with Churchill a few years ago, the terms of the policy stated I had to inform them of ANY accident or damage that had occured to the vehicle whether I claim under the policy or not. In my case a deer ran out in front of me and I tapped it just I came to a stop which broke the fog light fixings. I notified my insurance company but did not claim as I just replaced the fog light myself. So read your insurance policy.

As to whether you need to notify the Lease Company, that will depend on the terms and conditions of the Lease Agreement. Some will stipulate you have to notify the Lease Company. Read the terms and if they stipulate you have to notify them, then do that, If they don't then there is no need.

If the terms say you should, and you don't, then technically you are in breach of the terms and they could technically terminate the agreement and recover the vehicle early (they would likely issue an irremediable default notice initially - one where you cannot remember the breach as you already committed it and cannot "undo" the breach) and then terminate the agreement in writing. I stress technically. In my experience as long as the lease payments keep being made they probably would not take any action. As someone else has said above, if the repairs are not up to scratch at hand back you may find they try to sting you for damage charges.

Some finance companies, however, do lodge their interest in their lease vehicles at HPI and depending on their level of membership, if your insurance company makes a search on the vehicle, or registers the repair (as some do) it may flag up.

Hope that helps.
#11
I had a nast dent in the rear quarter panel of my lease car (my poor reversing into a post...) Informed the insurance paid my excess and had it repaired. Few months later handed my lease car back no issues. As long as it is repaired correctly there should be no problem.

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