Making claim on car insurance

[zeferjen]

Hope this is an ok topic on budget board. Dh hit my sisters inlaw's car

The estimate to fix our car is 1800. The estimate to fix theirs is 2400. We have a 500 deductible. It seems worth it to claim this, right? We have not had an accident in probably close to 10 yrs. Anything else I should consider?

Thanks!

 

[PatMcDuck]

Well, you live in NJ, and the accident was your (DH) fault.

So your insurance will pay for both cars, eventually. (right? not sure)

In any case, your rates may go up quite a but, although some companies do "forgive" one accident if you have a long time clear record like you do.....

I would be tempted not to report it.

 

[msmayor]

Well, you live in NJ, and the accident was your (DH) fault.

So your insurance will pay for both cars, eventually. (right? not sure)

In any case, your rates may go up quite a but, although some companies do "forgive" one accident if you have a long time clear record like you do.....

I would be tempted not to report it.

I wouldn't hesitate to report it.

$4200 out of pocket in one shot (the cost to fix both cars) or $500 deductible and an increase in rates? I'd take the latter. Its seriously doubtful that rates over one accident would go up even close to what the out of pocket cost is here.

You pay for the insurance. Use it.

(PS: I live in NJ too so I know all about the insurance rates here. Still doesn't change what I'd do.)

 

[zeferjen]

Thanks, everyone. I talked to dh and we decided to report it. Adding up the cost of the repair, the probable need for rental cars, and the stress of dealing with $ and family, it's too much. I will hope for the best.

 

[PatMcDuck]

I am not sure what I would do in that exact situation, as I think longer about it.

I guess when we did not report accidents in the past, it was when one of the teen agers were driving. Because their accidents make the rates go up ALOT, and we even almost lost our insurance because of one of their accidents. (they did not want to renew us I mean).

We have had 3 kids learn to drive and they all have had accidents (no one was ever injured, they were not serious but auto body work adds up fast!) It was only one or two that did not get submitted to insurance.

'
Good luck to you! They may even forgive it, because mine "forgave" my son's accident when he ran his car into a parked car while changing songs on his iPod. Sigh. (he was 17 or 18). I was shocked when they "forgave' it, since it was so idiotic of him. We have High Point, used to be Prudential.