Insurance - insurance settelement
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vintage
07-14-05, 05:02 AM
what are the possible consequences on my premium paid if my car cause damage the other car due to my fault? In that case should i settle instantly of my pocket or through my carrier?
Hammylinky
07-14-05, 10:53 AM
If you are involved in an accident that is your fault your premiums will go up, and worst case, your carrier could drop you if you have multiple accidents. It depends on the severity of the accident if you want to involve your insurance carrier. Most people have $500 or $1000 deductibles that you have to pay prior to the insurer paying anything. If the damage is close to your dedutible or slightly over I would pay for it out of pocket and avoid using your insurer.
uteman1011
07-30-05, 11:10 AM
My mother-in-law totalled her car and another. Her premiums went up only $75/6 months.
If your damage is less than your deductibles, pay it yourself. If it's much more than $1000 then think about having your carrier cover. If you are with a "budget" insurance be careful about making too many claims. They will drop you quickly.
If your damage is less than your deductibles, pay it yourself. If it's much more than $1000 then think about having your carrier cover. If you are with a "budget" insurance be careful about making too many claims. They will drop you quickly.