WWYD: Minor Car Accident?

[EricaR]

I''m pulling my hair out here.

Saturday night a big rock jumped out in front of me! I swear! Or maybe I just side-swiped a boulder in an unlit parking lot. Damage to my car is about $2,000. I have two options to fix it:

1. Pay out of pocket - $2000, plus whatever cost of a rental car for about 5 days
2. Go through my insurance. My deductible is $500.

Option 2 sounds the best at first glance, but in speaking with my insurance agent it sounds like I''d get a point on my record (which seems totally crazy!) and then my rate would go up. Right now I have a totally clean driving record and my husband and I pay very little for car insurance. The agent seemed taken aback when I asked him if he could let me know how much my insurance premiums would go up, but I think this is a valid question...

If you were in my shoes which option would you take?

 

[NewEnglandLady]

Is the reason your insurance would go up because you are considered "at fault" for this accident? If so, I''d definitely see if there is an option for you to not be at fault for this.

My husband hit a shopping cart once in a parking lot and they were going to fault him, but he ended up not having a point in his record and our insurance didn''t go up.

I''d probably wait to see how much your premium would go up if you were to make the claim. Also, I wonder if you could shop around to find a cheaper rate somewhere else (after the insurance company paid the claim?)

I think you absolutely did the right thing by asking about your premium if you were to file a claim.

 

[swingirl]

Why would you get a point on your record? Was another vehicle involved?

Are you saying you didn't have an accident but the damage just showed up on your car and you don't know when it happened? That can hardly be considered an accident or your fault.

 

[somethingshiny]

For me it would completely depend on my current financial standings. If I had the 2 grand, I''d probably pay outright and save the point. (depending of course on how much your premium would raise. If you''re going to be paying an additional $500 a year, that is really going to add up over time until it''s off your record. You''d probably be paying well over the $2000 in premiums.) If I did not have the money to cover repairs, obviously I''d have to claim it.

I would definitely get your agent to tell you how much and for how long your premium would raise. He should be willing and able to help you with that.

Sorry that boulder jumped out in front of you!

 

[kenny]

Bummer, sounds like you''re between a rock and a hard place.

Sorry, it was just sitting there.

Actually if the damage is cosmetic and does not affect he function of the car I''d just not fix it.

 

[swingirl]

So if your car was parked and you came back to find damage that''s not an accident and there should be no points.

Your agent isn''t being very helpful. With a good driving record I would be surprised if your rates went up but they at least should be able to tell you how much. Maybe it''s time to check out other agents or insurance companies.

 

[EricaR]

I can''t not fix it because there is exposed metal and I can''t take the risk that it will rust. In addition, one of my side airbag sensors is pretty close to the damage spot, so even a small tap there could set off the airbag (and that would be even more $$ to fix).

I didn''t just "find" the damage, I actually sideswiped the boulder while driving. Since I was moving and since the damage was more than $750 my agent feels that the insurance company will ask the DMV to put a point on the record thereby triggering the rate increase.

 

[ChargerGrrl]

oh wow- sorry to hear about this!

i''m with SS and would probably pay outright to fix it. i''d shop around and gather a number of estimates from auto body shops. who knows, perhaps the amount to fix could be lower than you think!

 

[movie zombie]

single car accidents seem to mean its our fault. had this happen a couple of times. see how much your insurance will go up before you decide.

mz

 

[EricaR]

I just got off the phone with my agent again, this time the smart one. My rate will only go up $10/month, so $360 total over the course of 3 years of higher rates.

$500 deductible + $360 raise in rates = $850, WAY less than the $2,000 plus rental car it would cost out of pocket. I have three quotes from three auto body shops, and all are right about the same amount. I''ll probably go with the guy I felt the best vibe from...

I hate this whole thing! I hate ruining a "clean" driving record over a little rock, but it seems to make financial sense to do so.

 

[swingirl]

Good solution. I''ve never heard of an insurance company "asking" the DMV to give out points. But who knows. All states are different. Glad you worked it out.