Most insurance companies aspire to receive First Notification of Loss (FNOL) within the first 24 hours however, with Vehocheck, FNOL is dramatically reduced. It only takes a couple of minutes to fill out the incident/ accident report at the scene and once submitted the report is sent in real-time to the line manager who can escalate the incident both internally and externally.
When it comes to minimising costs after an incident involving a third party, timing and recording the right information are everything.
“Accident management provider FMG estimates that failing to capture third-party information can inflate overall incident costs by 965%, turning a £1,000 bill into a painful £10,650, Key to keeping these costs as low as possible is making the first notification of loss (FNOL) as soon after the incident as possible”
Contacting your Insurance or accident management provider – ideally within the first hour – means there is less chance of drivers being approached by organisations that can lead to the costs for replacement vehicles and injury claims spiralling out of control.
Unfortunately, if you’ve had an accident, there is a whole industry waiting to make money out of it.