My wife was backing out of a parking place and hit a tree from the side of the car. One of the windows of the car was broken; there was no damage to the tree. We have full coverage (including collision). Some one is telling me, that it's better to pay for the repairs from my own pocket. They are saying that my insurance will go up if the insurance company get to know about the incident.
Is this true? And if this is the case, what's the point of having collision coverage, if I can not use it?
2006-11-29 14:46:52 · 3 answers · asked by techzone12 2 in Cars & Transportation ➔ Insurance & Registration
My deductable is $250. The damage to the car is a broken rear side window for a mini van, Toyota Sienna. I need to get an estimate first, to see if it's worth reporting to the insurance coompany. Your comments were very helpfull. Thanks
2006-11-30 03:52:28 · update #1
Depends on the company -- each one has their own underwriting guidlines so they may raise your rates somewhat. When you see the repair estimate for damages you are likely to crap your pants on the spot -- think your preimums will go up THAT much? Not likely and if your spouse stays away from the plant life you rates will return to normal in time.
2006-11-29 16:32:21 · answer #1 · answered by Anonymous · 1⤊ 0⤋
Depends on the cost of the repairs. If you have full coverage, do you have a deductible? If so, is the repair at the deductible costs?
Let's say you have $1,000 deductible, and the cost for repairs is $975. You'll be paying all of it anyway, so why report it?
But if there is a good amount to pay over the deductible, or if you have a low deductible, by all means use insurance. That is what it's for. Why would anyone put on full coverage and then not use it when needed?
2006-11-29 23:23:30 · answer #2 · answered by oklatom 7 · 0⤊ 0⤋
The higher the risk you are as a driver, the more your insurance rates are.
The point of having collision coverage if you are ever in a major accident where say your vehicle is totalled and there are thousands of dollars worth of damage- you are not left with anything. ( i mean unless you have thousands of dollars laying around to buy a new car)
I suggest if the repairs are close to your deductible (like 700 or so) you do not file through insurance. However, if there are thousands worth of damage it is certainly an advantage to file through insurance even if rates are slightly raised on your next policy.
You can always search for lower rates during your next policy period through another carrier..
2006-11-30 11:19:08 · answer #3 · answered by la428282 6 · 0⤊ 0⤋