Accident was the other guy's fault. Should I call my insurance company?

Question

I was recently involved in an accident with a cab. The accident was the cab's fault. The cops gave him a ticket. The cab company is self insured and has agreed to pay for the damages. My insurance company is Geico. I am wondering if I should call Geico anyway? Does it hurt me in anyway to get my insurance company involved?

Answer 1

The only time you call your auto insurance company is when you're going to put a claim. Yes they tell you to contact them whenever you get into an accident. They won't penalize you if you don't let them know. If problems come up with the cab paying for damages I suggest you call your company. They will have it on record but it wont count against you unless you put the claim thru them. Whenever your company pays for any damages whether is your fault or not thats when it will count against you. What might happen is if Geico gives you a accident free discount and the next time they run your motor vehicle record you might lose that discount. Anytime you get into an accident and you're not at fault put the claim with the other driver's insurance. In New Jersey even if you're not at fault and you put a claim thru your insurance it will be use against you so just be careful before you put in a claim.

Answer 2

I would put in the claim because:
1. In case the other insurance company isn't handling your claim to your satisfaction.
2. You need assistance in getting a reputable body shop to do the repairs.
3. If any injuries you can seek PIP or Medpay coverage.
4. Second option to go under your policy and then they can collect from the other insurance company (subrogation).
5. Your insurance company will find out about the accident from the CLUE report that all insurance companies report all claims activity.
6. Your rates won't go up on your policy unless there are payments made regardless of fault. If you file a claim and there were no payments made on the claim then you have a strong argument with the Insurance Commissioner if your rates go up.
7. Cab companies have high claims activity and you might be dealing with them directly instead of their insurance company. This being said they will try to short cut and pay less to you on vehicle repairs.

+17 yrs handling auto claims

Answer 3

DON'T call your insurance company. If you do, it will be on your insurance record, and your insurance rates will go up because you will be seen as a more risky driver. Deal only with the cab company's insurance. If they will only pay about 85% to 90%, your insurance company won't pay the difference. So the best thing is to not even call them because it will result in you paying higher insurance rates.

Answer 4

notify your company at once, you don't know this claim will go smoothly, especially since the cab co is self-insured, you might need your insurance company for help another thing, your company will run an MVR occasionally and will find accident on your record, they will then ask you to get police report, etc to prove that you weren't at fault so it will be easier if they already have record of accident and details

Answer 5

You are not required to call your insurer. But if you do, it will help speed things along in case you do need to make a claim later on.

For example, what happens if the cab company doesn't pay you enough and then goes out of business. You'll need to make a claim on your "underinsured motorist" coverage. And, if you already called your insurer, that process will go more smoothly than if you never called them in the first place.

Answer 6

Your insurance company will find the police report when they check your record before your next renewal. Calling them in now may help in dealing with the Cab company

Answer 7

You should call your insurance company anyway. It won't hurt your rates if the accident was the other guy's fault. But in case he doesn't pay, you will need coverage from Geico under Uninsured Motorist coverage.

Answer 8

Yes, definitely call them. You will get dinged a bit (though not as much if it were your fault), but the accident will be on record, and you never know what the cab company may do in the future.

Answer 9

As long as the other company coughs up the money for the repairs and your rental, without squawking about it, there's no need to go to Geico over this.

If they give you ANY grief about it at all, though, you might have to get your company involved to help settle it.

Answer 10

If you have the other guy's/company's insurance info, call and deal with them directly. If you call your insurance even if it is not your fault it will go on record that you were in an accident.