I was involved in a small really small accident in which i scratched another car. The other guy suggested me two ways to fix this problem the first by insurance or second just pay out of my pocket. which one is better or at least more recommendable!! and what are the consequences if we decide to go with insurance (pros and cons)
2006-11-08 05:45:29 · 9 answers · asked by Anonymous in Cars & Transportation ➔ Insurance & Registration
Well, my advice is let your insurance handle it because out of pocket payments don't usually work out. However, if it's minor and he agrees, and you want to pay, then do so, but get a release saying he can't come back and sue you or ask for more money.
The other thing to think about is if the estimate is a few hundred dollars, like less than 500, your insurance may not do anything to your rates because of that small payout. So you should think about that when you consider all sides.
Don't be surprised if he goes to his dealer and gets a jacked up estimate with huge labor costs and wants you to pay a ton of money. Insurance estimates are lower, and if your company pays they base the payment off that estimate, which has a lower rate and probably isn't having brand new parts put on, etc.
2006-11-08 10:15:55 · answer #1 · answered by Chris 5 · 0⤊ 0⤋
A few things to consider here. What state you are in. For example, in California, he has the right to get the car fixed wherever he pleases. $$$. Second, he has a right to be reimbersed for the rental of a comperable vehicle, what typr of car was it? If the damage is over $500 it is illegal to not report it to the DMV. The other party may decide to report it and you would be fined for not reporting it.
My car was hit while parked and because it was a convertable and the repair would take up to seven days, her insurance company ended up settling with me for $12,000 over a fender. The convertable rental of a comperable vehicle was $600 per day. Those "small" fixes can grow very fast. I knew about these details because my mother's boyfriend was an insurance adjuster.
I would have probably been much nicer to her but she fled from the accident after she stopped and looked at my car. It was parked in front of my office and I saw the whole thing and got her plate. She had just left the doctor's office next door and they knew who she was and called her to avoid getting arrested by the sheriff I was getting ready to call.
2006-11-08 12:19:36 · answer #2 · answered by Daniel D 1 · 0⤊ 0⤋
If the damage is minimal have the other guy get you three estimates and go from there also keep in mind he can push for a rental. If the damage is high and keep in mind alot of people do not understand the expense of paint work then you should go through the insurance. At which point they can raise your rates for up to 3 years. Don't guess. Example a customer brought me his 05' Nissan guy backed into his headlamp they agreed that $300.00 was a fair price for the lamp and any trouble this would cause the guy. Unfortunately the cost of the headlamp was $971.00 so protect yourself GET ESTIMATES>
2006-11-08 06:06:49 · answer #3 · answered by harmony moon 3 · 0⤊ 0⤋
Catch 22 question here! If police were involved then I would go insurance because your rates go up regardless! Your other option is requesting the other driver produce an estimate and then go from there paying him whatever you can agree on. There is a third option but I'm quite sure you have thought about that and I would really not want to be the one to recommend it here!
2006-11-08 08:37:48 · answer #4 · answered by Anonymous · 0⤊ 0⤋
Don't report to insurance. The amount you'll pay probably wont be more than your deductible anyway, unless it's some amazing paint that repels scratches, and since you can rule that out.... Just have him get it fixed and bring you the receipt.
2006-11-08 05:55:45 · answer #5 · answered by Steve 2 · 0⤊ 0⤋
insurance is going to raise the roof on your payments. paying out of pocket is going to be expensive.
if you choose to go insurance it'll cost you more in the long run and will take 3 years to come off your driving record.
on the other hand paying one lump sum is just one lump sum but it's probably going to cost a little bit
2006-11-08 05:59:10 · answer #6 · answered by Anonymous · 0⤊ 0⤋
As lengthy as you've got notified your coverage manufacturer of the twist of fate, you're prepared. Your coverage manufacturer will manage the complete subject and you will not need to do a factor besides to reply a couple of questions which your coverage manufacturer will now ask you. . Cops don't check "fault" for twist of fate legal responsibility regardless that. Insurance businesses do this. Relax !
2016-09-01 09:16:40 · answer #7 · answered by Anonymous · 0⤊ 0⤋
if you can pay out of your pocket do so because your insurence is going to go up at least for a few years if it was your falt.
2006-11-08 05:52:23 · answer #8 · answered by billiejo_8 2 · 0⤊ 0⤋
For scratches, not insurance, was it that bad ?
2006-11-08 05:48:23 · answer #9 · answered by Latin Techie 7 · 0⤊ 0⤋