My daughter, age 21, on a family policy, had a one-car accident - spun out on a curve in light rain (probably due to oil on the road). Car has front-end cosmetic damage but frame is OK - bumper, grille, headlamps need replacement (she bounced off and hit guardrail). Airbag did not deploy. We have $750 deductible. Anyone have any idea what the annual increase in premium will be if we report it to insurance company? Trying to determine if we should just fix it without reporting it to avoid a big increase. We live in NJ - the land of car insurance hell and big premiums. I'm thinking it will be about $1500-2000 to repair - deduct the $750 deductible and that means $750-$1250 additional out-of-pocket. I think they add that surcharge for 4 years in NJ - is that correct? Any advice would be very appreciated
2006-12-25 16:31:50 · 8 answers · asked by iluvcisle 1 in Cars & Transportation ➔ Insurance & Registration
Well, we got a preliminary estimate - about $3700 (ouch!) - so we're going the insurance route and reporting it. Thanks to all who responded.
2006-12-26 10:43:03 · update #1
i live in new jersey and had a similar accident where i actually needed to have my frame pulled and i paid for it all out of pocket. the insurance was my own, so at 20 years old, it was already horrendous. after that, i needed to report another accident (parking lot scrape) and my insurance didnt go up at all. i would say that fixing it on your own would be the best bet. insurance does not always increase with every accident. they may increase it after a certain amount is claimed. so if you can fix it, do so and leave room for the fact that another accident may happen where you need to report the damage for a claim. if you can't afford to fix it, you have to call it in. good luck to you :-)
2006-12-26 02:24:14 · answer #1 · answered by morequestions 5 · 0⤊ 0⤋
The average is that you premium will increase about $300 a year for the next three years, and thats if she does not have another accident after this one. Your better off just fixing the damage yourself. Just find some cheap used parts, or aftermarket parts, and a quality repair facility. After all the insuracne company will pay for these parts too if they are available. Your looking at a least a $1500 repair, in the long run your better off just not reprting it.
2006-12-26 00:42:32 · answer #2 · answered by Joey D 2 · 0⤊ 0⤋
I live in NJ, and have Liberty Mutual insurance. Ironically, I just spoke to them about a very similar situation. My daughter has her own car and insurance (also Liberty Mutual) and they will pay a claim less than 1000.00 without increasing your insurance premiums. It used to be 500.00. And yes, you will get a surcharge on your insurance for 4 years. I don't know how much it is, but it ain't cheap!! You live in NJ, nothing to do with insurance is cheap!! Fix it yourself...by the time you go through your insurance company, pay the deductible, pay the extra premium and surcharges, you will be saving money by doing it yourself.
2006-12-26 18:50:48 · answer #3 · answered by just me 6 · 0⤊ 0⤋
Frankly i don't know how its done in NJ, but usually if its not yours mistake your premiums don't change, in your case its oil or etc so its not your mistake, but it also depends on your insurance company, they might just say she should drive more carefully.... anyway you will have to check with someone in your area before you do something about it.
2006-12-26 00:41:43 · answer #4 · answered by Hunter_boy* 4 · 0⤊ 0⤋