I got in a fender bender (my fault) last week and the person I hit ended up sumbitting a claim to my insurance. Now that this accident has been reported and a claim has been submitted, will it hurt if I also put in a claim? The damage is about $750 and my deductible is $500 so I could just pay for it, but if it won't hurt my insurance payments I want to claim it. Thanks in advance for your help.
2006-08-17 06:46:59 · 7 answers · asked by kingmike_84 1 in Business & Finance ➔ Insurance
Claim it. If this is one accident most companies do not raise insurance premiums. When I was with Farmers, I have an accident that was my fault and claimed everything ( no rate increase), then I got a speeding ticket and another accident that was not my fault one month later. At this point my insurance was raised.
2006-08-17 06:55:26 · answer #1 · answered by UOPHXstudent 4 · 0⤊ 0⤋
Not all insurance company's hold a claim "against" you. Check the language of your particular policy to see if you run the risk of your premiums being jacked up just because you submit a claim.
2006-08-17 13:51:42 · answer #2 · answered by kja63 7 · 0⤊ 0⤋
Maybe. Each state has a "threshhold" of what the dollar damage paid out is, before your accident is surchargable. So it depends on what the other guy's damages are. If his damages are $999, and your state threshhold is $1,000, then YES, putting in for your damages will turn your accident from a non-surchargable accident, to a surchargable one. But if his damages are $2,000, it's already a surchargable one, and putting yours in won't hurt you.
Call your agent and ask them to find out what the other party is claiming in damages, and what the surchargable accident threshhold is in your state.
2006-08-17 15:38:12 · answer #3 · answered by Anonymous 7 · 0⤊ 0⤋
The additional claim probably won't hurt you but you can expect your rates to go up. If that happens, you may want to consider another insurance company.
Good luck and try to have a better day!!!
2006-08-17 13:52:09 · answer #4 · answered by Coo coo achoo 6 · 0⤊ 0⤋
Check with your agent and get whatever they say in writting. Some companies have a forgiveness policy for 1 accident and others (most) will increase your rate.
2006-08-17 13:55:03 · answer #5 · answered by Joe Man 2 · 0⤊ 0⤋
No, same claim. You will be charged with an at fault accident whether you claim it or not.
2006-08-17 13:52:05 · answer #6 · answered by Badkitty 7 · 1⤊ 0⤋
Yes, it will. Just pay for it.
2006-08-17 13:50:30 · answer #7 · answered by Unique 4 · 0⤊ 0⤋