Will making a claim with car insurance comp. increase the premiun?

Question

My car was hit in the parking lot and we don't know who did it. My wife belives it will increase the premium if we report it to Mercury ins. company. Should we fix it ourselves or report it?

Thanks!

Answer 1

If you can afford to fix it I would. You can bet the insurance company will raise your rate and put you into a higher risk category. It's a no win situation dealing with insurance companies.

Answer 2

I was told repeatedly by my insurance agent, Allstate, that comprehensive and collision claims that were not your fault did not affect the premium rate. I asked this point blank because between my wife and my son there were three car deer collisions on our record in less than a week a couple of years back. I had 5 cars on the policy and there were 4 drivers so we had numerous chances for accidents. Then there was an incident where my wife backed at low speed into a tree limb hanging over a driveway. (If the damn 2003 Chevy Venture minivan had been made of anything but tinfoil there would have been only a scratch instead of $1800 in damages.) At our next renewal I was informed that they would no longer be able to continue our collision insurance! BUT they could issue a new policy ... at a much higher rate ($600 more per 6 months). The collisions, even if small (under $2000 or so) are retained on your record for 3 years and if there are several then you will be dropped. The funny thing is that those responsible for most of the accidents had gotten their own insurance and were off the policy. I am now insured by Geico.........

Answer 3

Look at your policy.Different insurers have varying terms.Some will accept claims up to a certain limit without prejudice to your no claims bonus and hence next premium.
Whether you fix it yourselves or report it depends on which will hit your pocket the least-not in the short term but overall.
Finally ask if there is any CCTV in the parking lot.If there is and you know roughly when the damage happened you might just catch the begger on screen

Answer 4

Do you have full coverage insurance that will cover it? If you just have liability, they won't anyway. It would take collision to cover it. If you do have it, do you have a deductible amount? What is that amount? What are the damages? If they are at or under the amount of the deductible, fix it yourself. If not, report it. Will it raise your premium? Could be, ask and see. Frankly mine goes up every year even without claims.

Answer 5

This falls under you UMPD (uninsured motorist property damage). You need to file a police report ( at least in md) and pay a deductible. You should get your own estimate prior to reporting it.

If the damage is less than your deductible, then you won't want to claim it.

A claim is a claim. No it is not a moving violation or at-fault accident, but they still see a claim on your policy regardless.

Answer 6

If a claim was not a direct result of your negligence, (moving violation) then your premium will not be affected. Absolutely have them fix the car for you. The only way insurance goes up is if you have an unusual number of accidents that your driving habits contributed to. GOOD LUCK!

Answer 7

this just happened to my in a hospital parking lot - hit and run. this is what you need to assess. is the damage going to reach your deductable? if not dont file a claim. if the damage is over you deductable but still within in paying to get fixed your self, dont file. If you know this will cost much funds to fix out of pocket file a claim, and yes your premium will go up a little. mine went up about $80 for the year. was it worth file a claim, you damn right. my damages were over $5000 and my deductable $250