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gurkha's
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Posted on 03-19-11 7:26
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I need some help here.
Someone hit my car in the parking. There is a little damage in the bumber and that might cost around $800.
My question is if I ask the insurance company for repair, will they increase my premium ?
Thanks in advance.
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nepche
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Posted on 03-19-11 8:21
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So someone hit your car in the parking lot and you dont know who right? And you mean you want to file a claim with your own insurance company for the damages? In that case, do you have a comprehensive/collision coverage? If not, you have no claim. If yes, how much deductible do you have? $500 or $1000? If your deductible is more than $800, it does not make sense to file a claim. However, if your deductible is less than $800, you may file a claim but remember depending on the state you reside in, your insurance company can raise your premium anytime a loss is occured to them regardless of fault. You may not see the rate increase right away but next time when you renew your policy there is a possibility of higher premium. Now, its upto you to consider the cost vs benefit. If you have a $500 deductible and the cost to repair the damages is $800, they are just paying $300. You will have to pay $500 out of your pocket. And is that $300 worth the higher premium you may have to pay in future? Think and decide.
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amricane
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Posted on 03-19-11 11:23
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No it will not increase your premium but you have to put your deductable by urself ! Might be more than insurance company pay you ! I had somthing same like situation and I did stop my claim because I have to pay 500 to get 300 from insurance !!
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Jai_Nepal
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Posted on 03-19-11 12:30
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americane is wrong.
The insurance company will raise your premium regardless of whose fault it is. If it is not your fault (when you have an accident) then your premium will not go up much... but it will still go up a little. Similarly, in this case, it is not your fault, but your premium will likely go up a notch next time you renew.
Nepche is correct... analize the cost vs. benefit and decide for yourself. First step is to find out how much it will cost you to repair your car.
Good luck.
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gurkha's
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Posted on 03-21-11 12:52
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Thank you all for the info.
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STUPIDA
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Posted on 03-21-11 1:01
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Guys there is something called 'Un-insured and Under Insured' deductible too. Check if you have sign for this. Hit and Run is a case of Un-Insured, where somone hits you and run away, or you don't know know the person. Under-Insured is when a person doesn't have enough coverage to cover your loss. the best thing is in both cases the deductible is lower which is usually $ 250.
In you case, since this is hit and run, and if you have Un-insured coverage in your insurance, they will pay the cost minus the dedcutible. Make sure you file the poilce report before you call your insurnce.
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amricane
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Posted on 03-21-11 2:54
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Jai nepal : I got accident last week and after I talk to my algent they say since its not my fault it will not go up! I have a friend who got hit and run in parking lot and got 2500 without a single panne raise on his premium!
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Riten
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Posted on 03-22-11 9:12
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If the accident is not your fault, your premium might not go up when the renewal occurs.
But when you change insurance company, they do ask you whether you have been involved in an accident, regardless of whose fault it might be, which indicates this does factor into your premium calculation.
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