by Guest » Fri Nov 30, 2007 05:51 pm
Hi all!
A few weeks ago, I was pulling out of my office parking lot, and scratched another car. I found the owner and gave her my insurance information.
I promptly called my insurance agent and told her the whole story, and she opened up a case for both cars. I closed my own case, because I'm not yet sure if I want to get my car fixed. Now I'm debating whether to close the case involving the other car, and instead pay out of pocket.
If paying out of pocket won't hurt my premium, I want to do it. Unfortunately, my agent has no idea whether my rates will be raised even if I close both cases! If my rates go up either way, I have no reason to pay the other driver out of pocket, since there's no deductible there.
Body shop estimates $1300 damage to my car and $600 to hers. My deductible is $500 -- which I just realized is only applicable if I get my own car fixed. My insurance will pay for her damages with no cost to me. (Yes, I'm a newbie regarding insurance!)
I already have one speeding ticket, one claim filed in the past year, and maybe a thing or two else. I imagine it's bad to file any more claims.
Should I close the case, pay $600 out of pocket, and risk getting a rate hike anyway? Or is my premium likely to stay the same? (Or is there not enough information?)
Thanks!
A few weeks ago, I was pulling out of my office parking lot, and scratched another car. I found the owner and gave her my insurance information.
I promptly called my insurance agent and told her the whole story, and she opened up a case for both cars. I closed my own case, because I'm not yet sure if I want to get my car fixed. Now I'm debating whether to close the case involving the other car, and instead pay out of pocket.
If paying out of pocket won't hurt my premium, I want to do it. Unfortunately, my agent has no idea whether my rates will be raised even if I close both cases! If my rates go up either way, I have no reason to pay the other driver out of pocket, since there's no deductible there.
Body shop estimates $1300 damage to my car and $600 to hers. My deductible is $500 -- which I just realized is only applicable if I get my own car fixed. My insurance will pay for her damages with no cost to me. (Yes, I'm a newbie regarding insurance!)
I already have one speeding ticket, one claim filed in the past year, and maybe a thing or two else. I imagine it's bad to file any more claims.
Should I close the case, pay $600 out of pocket, and risk getting a rate hike anyway? Or is my premium likely to stay the same? (Or is there not enough information?)
Thanks!
Posted: Sat Dec 01, 2007 01:46 pm Post Subject:
Good morning Fly and welcome...
This irritates me, On many levels
my agent has no idea whether my rates will be raised even if I close both cases!
, if she doesn't know, then she should've just called an adjuster for the company or policy services to find out for you, sounds a little lazy... (you should be able too as well, call policy services for your company directly)...Most of the time agents are allowed to handle any liablity claims, (some companies may allow non-complex ones like yours I guess). But if not then you should be hearing from an adjuster shortly..$600 to hers
''Most'' companies that I know of, will generate a 'rate increase' for an ''at fault'' or ''chargeable'' accident if the payment is over 400-500.00 so you need to find out the criteria for your company if it's 500.00 you might want to pay it out of pocket (both vehicles)...Also I know of NO companies that will allow you pay it 'partially' meaning if 500 generates an increase you can't just pay 101.00 you have to pay it all or none...see?
I already have one speeding ticket, one claim filed in the past year, and maybe a thing or two else. I imagine it's bad to file any more claims
YEP...I agree, you don't need any more claims!!
Should I close the case, pay $600 out of pocket, and risk getting a rate hike anyway? Or is my premium likely to stay the same?
You're really the only one that can answer this, but with the info you've provided including
and maybe a thing or two else.
If you can afford it I'd think you'd be better off paying this yourself...You may not only be risking a rate increase, but non-renewal as well! Which will make it more difficult to get another policy at a reasonable premium..
Please let us know, what you find out and if we can be of further assistance to you!
Posted: Sun Dec 02, 2007 11:15 pm Post Subject:
First off, thanks so much for the help! I'm really very impressed with your taking the time to assist.
I decided to pay the $600 out of pocket. On Friday my agent said that I should let her know my decision by EOD or she would just pay the other party.
The inability to pay partially kind of stinks -- it seems like there should have been a way for me to just pay her $100 and have her rececive the remaining $500 from my insurance. But she had to fax them the body shop estimate, so working around that may have been fraudulent I suppose?
Perhaps I should call the adjuster about the damages to my car though. The difference in damage and deductible is $800, which sounds like a lot -- but being dropped by my company for claiming will probably add a lot more to my premium over coming years, I imagine.
I'm sure I'm not the first person to have noticed this, but $1900 for a one-second mistake feels outlandish. I guess I've never really thought about it, but the large amount people (especially under 25) pay for insurance is meant to protect against the really big stuff, like medical costs for the other party and serious property damage, huh?
Anyway, thanks again!
Posted: Sun Dec 02, 2007 11:28 pm Post Subject:
Hi fly, welcome back...
Perhaps I should call the adjuster about the damages to my car though. The difference in damage and deductible is $800, which sounds like a lot -- but being dropped by my company for claiming will probably add a lot more to my premium over coming years, I imagine.
Honey, you're getting into the same spot...if they pay this (to fix your car) it's a chargeable accident...If you are having them fix yours then let them fix the other guys too...it doesn't matter ''how'' much over the 'chargeable' amount it is one buck or 10k...understand?I'm sure I'm not the first person to have noticed this, but $1900 for a one-second mistake feels outlandish.
I know you will find this hard to believe, but believe it cause I've been doing it 21 years...1900.00 to repair two cars from a collision...TINY! Seriously, 1900 repair is considered very minor repair by todays standards...you're very lucky it wasn't four times that amount for two cars wouldn't have been bad...I know it's crazy what it costs to fix cars... :shock:
I guess I've never really thought about it, but the large amount people (especially under 25) pay for insurance is meant to protect against the really big stuff, like medical costs for the other party and serious property damage, huh?
Well, unfortunately, statistically that is who causes the majority of the wrecks...sorry but true..not all of course, but insurance is ONE industry that sterotyping and ''profiling'' is allowed! They just call it "underwriting" :P :roll:
First off, thanks so much for the help! I'm really very impressed with your taking the time to assist.
Nice young men like you are one reason we all want to help..... :lol: "now, you watch where you are going young man!" ha ha... :lol:
Just teasin' ya.....let us know if we can help further!
Posted: Fri May 18, 2012 10:21 am Post Subject: NmkpzIQAMmMkVY
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