MIB Uninsured Drivers Agreement Costs: Everything You Need to Know
In the United Kingdom, every driver is required by law to have at least third-party insurance coverage. Unfortunately, not all drivers comply with this rule, leaving the potential for accidents involving uninsured drivers. This is where the Motor Insurers` Bureau (MIB) comes in, a non-profit organization that serves as a safety net for victims of accidents caused by uninsured or untraced drivers.
The MIB operates under several agreements, one of which is the Uninsured Drivers Agreement (UDA). This agreement covers accidents involving uninsured drivers in which the victim is not at fault. In such cases, the MIB will compensate the victim for any damages or injuries caused.
However, there are some costs associated with making a claim through the UDA. Here are the main things you need to know:
1. The excess
Similar to a regular car insurance policy, the MIB has an excess, which is the amount a victim must pay towards the cost of the claim. The excess for the UDA is currently set at £300.
2. No-fault claims
If you were not at fault for the accident, the excess should be covered by the at-fault driver or the MIB. However, if the at-fault driver cannot be traced or has no means to pay, the victim will have to cover the excess themselves.
3. Damage to your vehicle
If your vehicle was damaged in the accident, the MIB will only cover the cost of repairing it up to the current market value of the vehicle. If the cost of repairing the vehicle exceeds its market value, it may be deemed a write-off, and the MIB will only pay out the market value.
4. Injuries
The MIB will compensate victims for any injuries sustained in the accident, including medical expenses and loss of earnings. However, there is a time limit of three years from the date of the accident to make a claim for personal injury.
5. Legal fees
If you require legal representation to make your claim, the MIB will cover the cost of hiring a solicitor. However, if the case goes to court and you lose, you may be required to pay the legal fees of the other party.
In conclusion, if you are involved in an accident with an uninsured driver, the MIB Uninsured Drivers Agreement can provide a safety net to help compensate for any damages or injuries suffered. However, it is important to keep in mind the costs associated with making a claim, including the excess and potential legal fees. If you have any questions about the UDA or making a claim through the MIB, it is recommended that you seek professional advice.
