Auto Insurance Claims/auto claims

Advertisement

Expert: - 7/17/2006


Question
If i have  had a "minor" incident which damaged my vehicle ( I hit one car with the other in my driveway Dah) and the deductible is 500 and the damage estimate is 1500 is it worth reporting or would I be better off eating the cost of repairs?

Answer
If you report an accident in which you were at fault and the amount paid in repairs exceeds some minimum amount (i.e. $750), then your insurance can (and probably WILL) increase your rates for the next three years.

Find out what that minimum in by contacting your insurance or by asking your state insurance commissioner http://www.settlementcentral.com/links.php

Idea: get a work-out with your adjuster to claim just $10 less than the minimum.  Thus, in my state, where anything beneath $750 CANNOT BY LAW BE USED TO INCREASE MY RATES, I would get the estimate and justify a payment to the repair shop of $740 and have my insurance pay me that amount, less my deductible of $500, leaving $240 in my pocket.  You will have to decide whether or not it is worth $240 to go thru that hoop or not.

Do not be afraid to call your agent and ask her these questions.  She CANNOT REPORT YOU FOR BEING IN AN AT FAULT ACCIDENT JUST BECAUSE YOU ELECTED TO ASK A QUESTION.

Best Wishes,

Dr. Settlement, J.D. (Juris Doctor)
http://www.SettlementCentral.Com

Auto Insurance Claims

All Answers

Answers by Expert:

Ask Experts

Volunteer

Doctor Settlement

Expertise

27 years of front line plaintiff`s trial lawyer experience in PERSONAL INJURY INSURANCE CLAIMS. Along with other attorneys and insurance adjusters, we have created a website to help injured people settle their own personal injury claims. With the help from feedback from hundreds of satisfied members, www.settlementcentral.com has become THE AUTHORITY for Internet personal injury insurance claim settlements. I am humbled and honored if people can benefit from my experience and current volunteer work in helping injured people. I hope I can explain things in a manner that is useful for the questioner. If not, do not hesitate to e-mail me and I will take a second shot at it! Best Wishes for your physical and financial recovery.

Experience



Life Experience: 27 years of front line plaintiff's trial lawyer experience

Organizations:
American Trial Lawyers Association
Washington State Trial Lawyers Association

Publications: (Click on Title to Read)
Statute of Limitations
Vehicle Accident
Accident--Adjuster
Demand Letters
Policy Limits

Education/Credentials: J.D. (Juris Doctor) 1977

Awards and Honors: I am humbled and honored everytime I am selected to help injured people. And when people give feedback that they have benefited from my experience and current volunteer efforts, then that is a double honor and award for me.
 

©2012 About.com, a part of The New York Times Company. All rights reserved.