I side-swiped a guard-rail about a month ago. I got my check and am going to have it repaired. I have a 500 dollar deductible. I will still owe about $900. Is there any formula to figure it out? My insurance company said they had know way of knowing until they do their billing. The surcharge will be over a 6 year period.
Any help is appreciated.
2007-01-05 03:51:09 · 3 answers · asked by JamesL 2 in Cars & Transportation ➔ Insurance & Registration
p.s. I am a Massachusetts resident.
2007-01-05 03:53:03 · update #1
This varies so much from carrier to carrier that it is impossible to predict. If your record is good, a single occurance may hurt you little if at all. The size of the claim is also taken into account. However, your company DOES have a formula and some good chasing on the phone should get you to someone who can tell you what they do. Don't be afraid to quote other carriers at renewal. Another carrier may not penalize you at, since the claim happened elsewhere. Good Luck.
2007-01-05 04:46:33 · answer #1 · answered by Jim N 4 · 0⤊ 0⤋
Your insurance company should be able to give you at least an approximate figure on how much the premium will increase when the surcharge is added. A 6 year period for a surcharge seems strange. Normally the surcharge would be over a 3 year period because that is the amount of time the accident stays on your driving record.
2007-01-05 19:28:03 · answer #2 · answered by mymoon 2 · 0⤊ 0⤋
There's no set formula, there's too many variables and Mass. is it's own little insurance universe compared to the rest of the country.
I'm afraid you'll have to wait for your agent & his/her underwriter to tell you at renewal time.
2007-01-05 04:46:18 · answer #3 · answered by ohso_quiet 4 · 0⤊ 0⤋