Near misses...

Are you going to drop it? Not sure I follow... the £300 would come from her/his side wouldn't it?
The way I see it, you claim for say £500 for a replacement bike, they get billed £800 for that £500 plus the £300 MIB fee, plus hopefully a fine for driving illegally.

Because it is classed as an 'untraced' case (she drove off without giving details), theres technically no other party admitting to fault (I think) so their fee comes out my claim i.e. the cost of replacing the bike (bike shop quote). If however the named driver admits it was his wife/sister/friend, etc then it becomes a 'uninsured' case which the other party would then have to pay the £300 to MIB. Still going to go ahead with it, as if its unsuccessful they wont charge me the £300.

Still waiting to hear from the police.

Moral of the story; make sure you get the drivers details.