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Auto Insurance Claims/Should I claim for little over the deductiable amount?

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Expert: - 4/5/2011


Question
I have collision insurance with $500 deductible on my 2008 Honda CRV from AAA. I hit a tree while reversing the car. The estimate of repair is $1000. Should I do a insurance claim or repair self? How it will impact my premium?
Note - Similar accident happen on same car in 2008 which insurance paid around $1800.00 after my $5000 deductible.

Answer
Hi Subhash,

This would be considered an at-fault event and would likely increase your premiums for the next 3 years. You would likely be better off to pay it yourself. The premium increase would likely be more than the $500.00 extra you would pay for the repairs.

I hope this helps
Richard Hixenbaugh  

Auto Insurance Claims

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Richard Hixenbaugh

Expertise

Auto insurance claims procedure, auto coverage, liability issues, auto damage questions, how to deal with the insurance company, loss of use and diminished value.

Experience

I have been involved in the insurance industry for over 25 years. I have experience in underwriting, sales, claims adjusting, auto damage estimating, auto value appraising and diminished value appraising. I have testified as an expert witness over 35 times.

Organizations
Society of Certified Auto Appraisers

Education/Credentials
Completed all required courses for the Florida Property-Casualty agents license and the Florida claims adjusters license. I have attended various courses on auto damage estmating, vehicle appraising and am ASE certified in collision damage analysis.

Past/Present Clients
My company has done work for consumers nationwide.

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