You have been involved in an accident and have been advised that it will be settled under a knock for knock agreement.
You are not happy about this as it infers that you were considered to be as much at fault as the other person and you consider yourself to be the completely innocent party on this occasion.
This is a scenario many people will have suffered under the hands of a Knock for Knock agreements, but what does it actually mean?
Well, don’t get too disappointed as the term Knock for Knock Agreement is actually an administrative term used by insurers.
To be succinct and lay it down in basic terms, what it actually means is that the two insurers have an agreement in place between themselves that they will each settle their own policyholder’s insurance claim.
Blame is not a contributory factor, it is simply an agreement between the two insurers which helps them save money by not arguing costs associated to the accident, negating any possible legal litigation.
Their correspondence and discussions will be restricted to the apportionment of blame.
That is not to say that they will still conclude that you were in fact partially at fault and your no claims bonus is to be affected as well as the other person’s but that is something that you will need to take up with them separately.
Just don’t think that if your insurer has elected to settle your claim on a Knock for Knock basis that you are immediately considered being partially at fault.
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