Someone hit my car and left without reporting it

[MillauFr]

The big savings from having a higher deductible come from having a claim free record. Every single claim gets reported to the CLUE database. People have a larger number of claims are always going to pay more for insurance than people with no claims. Your insurance company may happily pay out your $500 claim but don't be surprised is they jack up your rates when you renew.

 

[mom2rtk]

The big savings from having a higher deductible come from having a claim free record. Every single claim gets reported to the CLUE database. People have a larger number of claims are always going to pay more for insurance than people with no claims. Your insurance company may happily pay out your $500 claim but don't be surprised is they jack up your rates when you renew.

Having a lower deductible doesn't necessarily mean you will file more claims.

 

[MillauFr]

Having a lower deductible doesn't necessarily mean you will file more claims.

By having a $5,000 deductible it will guarantee that I will file less claims. I do not trust insurance companies to do the right thing. Maybe I am too cynical but I believe the vast majority of large businesses only care about increasing profits. Too many of them will point to any loophole in order to avoid paying as many claims as possible.

 

[mom2rtk]

By having a $5,000 deductible it will guarantee that I will file less claims. I do not trust insurance companies to do the right thing. Maybe I am too cynical but I believe the vast majority of large businesses only care about increasing profits. Too many of them will point to any loophole in order to avoid paying as many claims as possible.

Yeah, I suppose that would do it. But that's a deductible way out of my comfort range. I'm already close enough to self insured on medical expenses. I have no interest in being there on auto claims.

 

[North of Mouse]

Have had 2 different ins. companies in 49 years - a few 'major' claims, some minor ones - never had ins. rates go up - comprehensive, no deductibles - collision, $1,000 deductible.

 

[IDoDis]

Maybe our insurance is different but it's one deductible paid out per accident even if it's our fault.

Sorry, I misspoke. I was referring to separate deductibles having to be paid If there were both comprehensive and collision claims. A couple of years ago my friend hit a deer on the road. When she swerved to try and miss the deer, she entered a different lane which caused an accident with another car. She had to pay a comprehensive claim for the damage to the front of her car from hitting the deer, and she also had to pay a collision deductible for the damage to the side if her car from the SUV. She didn't have to pay a liability deductible for the other vehicle.

 

[IDoDis]

By having a $5,000 deductible it will guarantee that I will file less claims. I do not trust insurance companies to do the right thing. Maybe I am too cynical but I believe the vast majority of large businesses only care about increasing profits. Too many of them will point to any loophole in order to avoid paying as many claims as possible.

People can also be penny-wise and pound foolish. With a 5k deductible what would your cut-off be in damages to file a claim? You certainly wouldn't want to file a claim on $6500 worth of damages if 5k comes out of your pocket and the insurance only pays out $1500 and raises your rates. This makes no sense to me.

 

[MSLRAC]

Sorry, I misspoke. I was referring to separate deductibles having to be paid If there were both comprehensive and collision claims. A couple of years ago my friend hit a deer on the road. When she swerved to try and miss the deer, she entered a different lane which caused an accident with another car. She had to pay a comprehensive claim for the damage to the front of her car from hitting the deer, and she also had to pay a collision deductible for the damage to the side if her car from the SUV. She didn't have to pay a liability deductible for the other vehicle.

Interesting, that would have still just been one deductible for us. I went round and round with our agent and the adjuster that handled our accident back in the summer about our deductibles and max out of pocket we could face and was told mutilple times that it was one deductible per accident claim.