I accidently backed into someone this morning and broke both our brake lights. This is my first accident in ten years. I have insurance through Peerless Will my rates go up? If so, by how much?
2007-03-21 06:31:07 · 6 answers · asked by Anonymous in Cars & Transportation ➔ Insurance & Registration
I don't know why everytime someone asks a question on here about there rates going up, everyones first response is YES. Thats not true in every case. In your case this is your first accident in ten years then I wouldn't worry about. I work in the claims dept for an insurance company, and here is how I was trained on how rates are determined. If you in an accident, and are AT FAULT as long as the damages to the other persons veh are less than 1,000$ your rates should stay the same. If there more than that you run the risk of them going up, about 10-20% for 3-5years. Now if your in an accident, and NOT AT FAULT your damages on your own veh could be anywhere from a 1$ to 5,000, and your rates should stay the same. Now this is if your not an accident prone person. Meaning as long as you don't have a large amt of claims on your policy. Cuz what they do is once your policy is up for renewal they look at how long you've had insurance, how many claims you have on your record, amt of damages, and stuff like that. That is what they use to determine rates. Now if your in an accident, and are at fault, but damages are less than a grand, if your ticketed for speeding, failure to yield, drinking, or anything like that, then your rates may also go up. Because then in the eyes of the insurance company, you would be considered a high risk.. But as long as you only have like 1-3 claims on your record, and the better of them are NO FAULT accidents then you should be all good. But yeah like a couple of the responses above, if you can fix the damages for less than what your ded would be then so be it, its not a requirement to notify your insurance everytime you get in an accident, and don't let anyone tell you that it is...
2007-03-21 09:54:02 · answer #1 · answered by D.L. 4 · 0⤊ 0⤋
Did you exchange information with the other person? Did the other person report the accident to their insurance company? Then it's on record. Your insurance will go up. As to how much, it's up to the company. Some have "accident forgiveness" for good customers, but I don't know much about Peerless.
2007-03-21 06:40:07 · answer #2 · answered by Anonymous · 0⤊ 0⤋
I dont know what your deductible is-- but it probably is more htan the cost of some taillights. You might be better off just paying out of pocket right now for the new taillights and not involving insurance. Anytime you make a claim your rates can go up.
2007-03-21 06:36:56 · answer #3 · answered by Anonymous · 0⤊ 0⤋
if you put a claim in yes. find out how much it will cost to get the car fixed. If it is affordable than pay it yourself. How much I can not tell you but they will rise. We had our insurance 25+ years without a accident when we put in a claim. They went up.
2007-03-21 06:36:17 · answer #4 · answered by nj2pa2nc 7 · 0⤊ 0⤋
It's possible ... ask your agent about your policy. If you want to guarantee your rates don't go up ... offer to pay for the other driver's damage out of your own pocket. If you've already reported it .... then ... ask your agent about your rates ....
2007-03-21 06:39:59 · answer #5 · answered by burlingtony 2 · 0⤊ 0⤋
if you only damaged your OWN car...fix it yourself...it will probably cost less than your deductible anyway....check the local salvage yards for replacement light assemblies. you will pay about half the price of new ones
2007-03-21 06:36:23 · answer #6 · answered by malemute1 4 · 0⤊ 0⤋