I was in a car accident, it was the other party's fault, do I have to report it to my insurance company?

Question

My car was rear-ended, the person who hit me accepted all responsibilty, they even signed a document stating that at the scene of the accident. They are insured. I'd rather not report it to my insurance company since I expect no moeny from them and am worried they would raise my rates anyway. Must I involve them if I want to be compensated by the other party's insurance?

Answer 1

Hi! as per my knowledge your premium rate will not be raised on less ther is a cliame from your side . when your are not lodging a cliam form your insurer u need not inform them.
you need not involve them as long as the other party`s insurer asked. some time there is a choice of calimimng both sides. To clarify any claim from your insurer by you on the same accident the other pati insurer may ask or demand clarification.

Answer 2

The safe answer is yes, just in case the other driver comes up with some bogus injuries and tries to make a claim against you a year or so from now.

There is a possible downside though, depending on what state you are in, they may allow insurance companies to consider non at fault accidents as a rating factor (sightly higher rates). The insurance company will justify it as they can claim it was an "event" or "occurrence" and statistically you are more likely to have another accident very soon. Your claims rep will not know this, and you will have to get someone pretty good at policy service to go give you an answer.

And by the way, the signed statement does not bind the insurance company, as the insurance contract specifically states that "the insured" cannot assign liability to the insurance company.

Chances are all will go well and the other company will put you in a rental and repair your car. If you are a cautious person, it would be wise to advise your insurance company.

Answer 3

Joseph is right. I worked in auto insurance too. You have no reason not to report it, because if you were not at fault then your rates won't go up. Insurance companies look at risk when determining rates. If you are getting hit every week, they will certainly look at that. But getting hit once by another driver where you are not in the least at fault doesn't imply an increase in risk for them to insure you, so why raise rates? People are totally paranoid when it comes to their rates. They think everything under the sun will increase them, like the color of a car being red etc (that is a myth, because it has nothing to do with any increase in claims payout or risk to insure) what WILL cause your rates to go up are tickets, accidents, and an 18 yr old driver (especially male) because all those things correlate to higher risk. By the way, the reason most people think red cars will raise rates is because usually people buy red sports cars- what IS raising the rate is the fact that you are talking about a faster car with more horsepower instead of a yugo that happens to be red. More power = higher chance for greater injury and thus bigger medical bills to pay. It's all about the power of the car, not the color. In any case, a no-fault accident doesn't raise your rates, retarded drivers in your area do.

Answer 4

different situations require different things. If there is no damage to either vehicle then there really isnt an exact reason to report it. BUT if the police were called, then it would be a good idea to report it. Since the other person did rear-end you, then the other person will be at fault. (that is as long as there is NOTHING that could say it was you). No matter what if the police were called, report it. But if the police were not called, then there is honestly no reason to call. If there is damage to your vehicle, report it so that you can be compensated for the damage from the other person's insurance.

Answer 5

Yes, with a copy of the police report, or a copy of the paper they signed.

There has been ad's on the tv that states some insurance companies have accident forgiveness. I believe it is State Farm. If they have it then I am sure that others have it.

You maybe lucky and have an insurance company that will forgive an accident if it is not a habit of yours to have accidents.

Answer 6

I have no idea. Check your policy.

In many states, you do have to file an accident report with the police, even if you were not at fault.

In the past, I have let my insurance company know that I was hit, and it did not make my rates go up. Rates only go up when your company has to pay.

Answer 7

sure, they're allowed to try this. If it have been your insurance, does not you like them to make thoroughly beneficial in the previous they paid out on an twist of fate that must be your fault? And, as they reported, the police rfile, and who did or did no longer get tickets, is barely one component of the examine. Your fact, the fact of alternative drivers, witness statements, and examination of the damages on all automobiles in contact is likewise component of it. And until eventually that examine is performed, you won't have the ability to declare you're no longer at fault, that hasn't been desperate, all you could say is your agency agency did no longer locate you at fault. out of your question, it does not seem they're refusing in any respect, they have performed some examine, now they're seem curiously to an twist of fate reconstruction as a third occasion. February, meaning what, 3 months you have been waiting? I certainly have a vehicle in the lot, very undesirable twist of fate preferable to a dying, that they are nevertheless engaged on with insurance companies and criminal experts. The date of that twist of fate became into February 8, 2008. sure, it relatively is rather severe. yet, in case you like a vehicle, circulate get a vehicle. Or have your guy or woman business agency initiate the approach utilizing your collision insurance in case you have that. you may have a deductible to pay, even nonetheless it gets the approach started and get you paid honest industry value much less deductible assuming that's a finished loss. in case you haven't any longer have been given insurance for that, it is a results of your determination to say no to it once you get carry of insurance. probable the terrific source as to what is going on, and the time to end, would be your guy or woman insurance business agency.

Answer 8

YES! Notify them immediately. It works like this: You notify your insurance company, let them know the other guy was at fault, provide them the statement you were given at the accident scene as to their responsibility. Your insurance company will make sure your car gets fixed, and any injuries to you. In the meantime, they are going after the other insurance company for repayment. In other words, your insurance company will be batting for your team.

Answer 9

Yes. If your insurance information was taken by the police or by the other driver, you definitely want your insurance company to have heard about the accident from you first.

Answer 10

yes. you should of done that as soon as it happened. If the other party doesnt turn it in then you shouldnt either. thing will happen is that your insurance will go up and youll be on a coverage charge for 6 years.