Auto Insurance Claim

[Monte]

Anyone knows how much the damage costs before it's worthwhile to claim insurance? My husband drove into a post and damage the side mirror and door of our 2007 Camry Hybrid. Our deductible is $500. Will insurance raise premium in non-collision accident like this? We have Ameriprise Auto Insurance.

[Stanly]

re filing claim: First, your agent can tell you whether or not your company will raise rates for this claim. It varies from company to company. One that our agency representes will not raise rates for claims under $1,300. Another forgives an accident if the insured's credit store is high enough. Some won't raise rates for customes who've been with the company a long time("long time" varies). The accident described IS a collision claim; driving into an object is a collision and is paid out under the collision coverage, not the "comprehensive"(a.k.a. other than collision) coverage. Since it's a collision claim, it will be subject to whatever rules the company has in place regarding collision claims.

[Victoriano]

Off the cuff - I would say not to make a claim under $2000 Insurance isn't really there for more minor accidents. It's there for the big stuff, like an accident that requires replacing a car, or paying medical bills for injuries and such. So you are wise to ask this question.This is very off the cuff - few companies will not change your rates after a claim, since is it proven that people who make a claim are much more likely to make a further claim over the following few years than those who are clean. How much would it cost to make a claim in future insurance hikes? Maybe a few hundred a year over the next five years? The Hybrid doesn't have the highest insurance around, but it's not the lowest either. If you were to pay $1500 in increased premiums over the next 5-7 years, that would mean that the insurance company would need to pay you $1500 to make the deal work out well for you. Add the $500 deductible, and you get to a $2000 total claim.As a side note, the law requires any damage to a car above a certain dollar amount be reported to the Dept. of Motor Vehicles, or similar agency. It's a state law, so double check just in case.As another aside, you might check with your agent to see how much you save by using a $1000 or $2000 deductible. This can be a real winner, especially if you usually have that much savings available. Sources: My Opinion, as an economics consultant CatOfGrey 83 months ago Please sign in to give a compliment. Please verify your account to give a compliment. Please sign in to send a message. Please verify your account to send a message.

[chason62]

Insurance isn't really there for more minor accidents. It's there for the big stuff, like an accident that requires replacing a car, or paying medical bills for injuries and such. So you are wise to ask this question.This is very off the cuff - few companies will not change your rates after a claim, since is it proven that people who make a claim are much more likely to make a further claim over the following few years than those who are clean. How much would it cost to make a claim in future insurance hikes? Maybe a few hundred a year over the next five years? The Hybrid doesn't have the highest insurance around, but it's not the lowest either. If you were to pay $1500 in increased premiums over the next 5-7 years, that would mean that the insurance company would need to pay you $1500 to make the deal work out well for you. Add the $500 deductible, and you get to a $2000 total claim.As a side note, the law requires any damage to a car above a certain dollar amount be reported to the Dept. of Motor Vehicles, or similar agency. It's a state law, so double check just in case.As another aside, you might check with your agent to see how much you save by using a $1000 or $2000 deductible. This can be a real winner, especially if you usually have that much savings available.

[Boetius]

roniniowa said: 1 re filing claim: First, your agent can tell you whether or not your company will raise rates for this claim. It varies from company to company. One that our agency representes will not raise rates for claims under $1,300. Another forgives an accident if the insured's credit store is high enough. Some won't raise rates for customes who've been with the company a long time("long time" varies). The accident described IS a collision claim; driving into an object is a collision and is paid out under the collision coverage, not the "comprehensive"(a.k.a. other than collision) coverage. Since it's a collision claim, it will be subject to whatever rules the company has in place regarding collision claims. 82 months ago