Auto Insurance Claims/claim withdrawal

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Expert: Bennie719 - 1/8/2008


Question
I bumped a car on the parking lot of a grocery store. I believe it was 50- 50 fault because both drivers were trying to to get out of parking spot. his car was slightly damaged. we reported the accident, damged was probably 250.00. my deductible is 500. I been trying to negotiate with the other party. Can we withdraw the claim if we settle ourselves. how can i do it? and if we withdraw our rates will change because it was reported?

Answer
Hi Enrique,
Most states set a limit of at least $500 damage that was your fault before they consider the claim 'chargable', which would raise your rate.
Yes, you can each notify your insurance companies that you wish to withdraw the claim and there should not be any impact on either of your rate.
Bennie

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Bennie719

Expertise

I have extensive knowledge in Personal Auto, Homeowners Insurance and Personal Umbrella coverage. I am also thoroughly familiar with claims handeling procedures. Will answer questions related to the above.

Experience

Experience in the area: Served as an expert at askme.com from 7/2000 thru 10/2002 in the catagories of general insurance, auto and home insurance. Answered 422 questions before that site closed. Licensed in California since 1961, first in Life and Health for 2 + years and as a Property/Casualty Agent/Broker since 1964. I sold my business and took early retirement in 1998. Still maintain a valid California Property/Casualty Agent/Broker license. I have been a volunteer at allexperts.com since 2002. I can provide assistance in the following fields: Property and Casualty Insurance, Insurance Law, Auto Insurance Claims.

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