Insurance rate question

[RatLabGuy]

Any insurance guys here?

Lets "pretend" my wife was just in a minor fender-bender, which she was clearly at fault for.
Have full collision coverage on her car, $250 deductable.
Now at a guess, I could probably fix hers enough to be drivable for $200, do a good job for $300-400.

Given we're already liable for repairs to the other person's vehicle (rough guess is it would be $1500-2000 if they do it right?), I'm assuming this will mean a premium rate increase... although first accident for her in prob 8 years.

What I'm wondering is - we have the option of having our car fixed or not. Will our rates increase/change any more if we go ahead and have them do it? For $250 deductable I'd rather not mess w/ it myself - or even better, get a check for paying a shop (rough guess is $750-1k) and run w/ it... but if it means paying more in the long run, I won't.

 

[Blkvoodoo]

The way I understand it, you were at fault, and there was a loss, the loss was passed to the insurance company, so you will probably incur a premium increase as a result, generally makes no differance the cost to them ( the ins. co. )

SOME companies offer a "forgivness" if the loss isn't over xxx amount ( mine is like $1800, so anything more than a scratched bumper, and we'll get socked )

My mom bumped some one from behind a few years ago, didn't report it immediately, to her insurance, told the lady to call her if there was any issues. Th e lady sent her a $25 Chiropractor bill a week later, Ma paid it, but them reported it to the insurance, fearing more bills. There never were any more, but her insurance company still jacked the rates.

Remember, they are in the business to make $$$, not give it away.

good luck !!

 

[Ron]

Once a claim is filed its gonna hit.
Go ahead and get the check rig it up pocket the remainder to cover the premium increase.

BTW, you should look into raising your premiums. We save $75/month changing our from 250 to 1000. As long as we dont file a claim EVERY year it pays for itself.

 

[RatLabGuy]

Once a claim is filed its gonna hit.
Go ahead and get the check rig it up pocket the remainder to cover the premium increase.
BTW, you should look into raising your premiums. We save $75/month changing our from 250 to 1000. As long as we dont file a claim EVERY year it pays for itself.

Yeah, when we first bought thsi car 10 years ago we were poor and just out of college, figured we couldn't afford to get hit w/ a high deductable if something DID happen, so we went w/ the lower amount.

Now the car is pretty much worthless anyway ('97 Ssaturn SL2), prob $1500 at most even in great shape, we just forgot we even had the complete coverage on it after all this time.

I'll probbaly just call my agent on Monday and ask him flat out about it; I don't know if we have accident forgiveness or not, this is her first at-fault accident EVER, and I've only had 1 like 11 years ago.

Anybody want to by a Saturn that's mechanically sound, jusst needs some consetic "help"?

 

[rockcity]

You don't have to fix your car if you don't want to. However, if it is financed, the lein holder usually requires it to be fixed, hence why you most always have to have collision on your car if financed. if its not financed, then the decision is yours alone. Obviously, if you choose not to have insurance pay to fix it, your premium increase may be less. If insurance does fix your car, you are guranteed to have a premium hike

 

[catfishblues]

Anybody want to by a Saturn that's mechanically sound, jusst needs some consetic "help"?

How's the trunk space in it?

 

[Blkvoodoo]

I know a red head who's looking a ride, is the Saturn dark green ?