If my insurance has a cap of $750 before my premium is raised...can I come to an arrangement with the other company to bill $745 to my insurance company and the remaining sum to me? Will they do that? Is that possible, or recommended?
2007-01-18 09:48:08 · 5 answers · asked by questionasker 2 in Cars & Transportation ➔ Insurance & Registration
My insurance has a cap of $750 - meaning if a claim requires a payout of less than $750, my insurance will pay it, but my premium won't go up.
Can I come to an arrangement with the other company to bill $745 to my insurance company and the remaining sum to me? Will they do that? Is that possible, or recommended?
2007-01-18 10:04:37 · update #1
Are you sure you are understanding this correctly? The $750 is likely your deductible, which is what is the maximum that you pay for a given claim before the insurance coverage kicks in. This means that the insurance company will pay whatever is left after the initial $750. If your repairs are going to cost, say, $900 dollars, turning it in to your insurance on a claim is not going to be worth it because they will only end up paying $150 for the repairs and then you have a claim on file which could possibly, depending on the situation, cause your rates to go up. That, of course, is up to you. But if you are able to afford it and the amount is only a little over your deductible, I would just pay it out of pocket and save the claim. They can be a hassle a lot of times anyway.
2007-01-18 10:01:33 · answer #1 · answered by Anonymous · 0⤊ 1⤋
I don't think you have the correct information.
In CA, if your damages (or damage to someone else) exceeds $750 and you are AT FAULT for the accident, your rates rise.
If you are NOT AT FAULT then your rates don't rise, at least not because of the accident. Your insurance company will subrogate the at fault party and that's it...they get their money back and that's all they care about.
But if you're still in this midset....just have the other insurance company pay for your damages and tell your carrier the other party is paying for all damages direct.
2007-01-19 17:24:44 · answer #2 · answered by bundysmom 6 · 0⤊ 0⤋
your insurance company is going base your premium by the total amount of the damage,not by what they actually pay.for example if you have a $100.00 deductible and you pay that and the total damage is $800.00.your insurance company will pay $700.00.your premium will increase because the total damage is over $750.00.
no reputable insurance agent on the planet will lie for you.you cannot make "shady deals" with an insurance agent.
Pay the whole amount of the damage out of your own pocket or turn it in to your insurance agent and pay the extra premium
2007-01-18 10:03:12 · answer #3 · answered by shrekster2 2 · 0⤊ 0⤋
Only put in a claim for $745 to your company. They'll be happy with that.
2007-01-18 09:57:08 · answer #4 · answered by T J 6 · 0⤊ 3⤋
Never heard of this. I doubt if ANY claims adjuster would go along with this.
2007-01-18 10:06:46 · answer #5 · answered by Anonymous · 0⤊ 1⤋