Insurance Rates.

[Rev15]

Well, I got into my first accident today, just a small fender bender with damage to her back bumper and my front bumper. I'm at fault on this one, and I'm just wondering if insurance rates typically go up from first instances of minor accidents. From what I understand, dollar amount usually doesnt matter, but due to cracking and paint chips on her bumper I would say it would need a replacement, she drove a newer (00-07 if i had to guess) luxury Buick.

Thanks guys.

[Generic]

offer to pay for her costs and avoid insurance (if its under > $1000) from a bodyshop. If its only a bumper skin, the $450 to shell out for a new bumper skin is worth the easy $1000 a year your insurance can go up too. If she won't do that, you're fucked, and good luck with your insurance rates next time you renew.

[Masked Bandit]

The impact on your insurance rates really depends on your current record / policy. It can vary from no change at all to doubling or tripling your rates. There are so many variables. If you have a decent broker you should be able to call them up and they should be able to give you a reasonable ballpark figure. If you're with one of those direct writers / banks, well....you're probably on your own.

[Rev15]

I see, so if they end up going through insurance, I'm going to have to be answering a lot of questions then? Could you give me a short list of the more important variables? (I'm with a broker)
Thanks for the reply.



Originally posted by Masked Bandit
The impact on your insurance rates really depends on your current record / policy. It can vary from no change at all to doubling or tripling your rates. There are so many variables. If you have a decent broker you should be able to call them up and they should be able to give you a reasonable ballpark figure. If you're with one of those direct writers / banks, well....you're probably on your own.

[Masked Bandit]

One of the biggest factors is what "star" rating you are currently at. How old are you and how many years have you been insured?

[HRD2PLZ]

For a small collision like that, if you have the money, I'd pay out of pocket. No sense in rates going way up over a $1000 bumper.

[Masked Bandit]

Originally posted by HRD2PLZ
For a small collision like that, if you have the money, I'd pay out of pocket. No sense in rates going way up over a $1000 bumper.

Absolutely.

Again though, your broker should be able to figure out the future increased costs of submitting a claim. You can then weigh that against the cost of fixing the damage out of your own pocket.

[Rev15]

I'm 19 now and I've been driving since I was 14 if you include a learners permit. I was under my parents insurance from then (getting my GDL @ 16) and I've had my own insurance (plpd only) since last August, this is my first accident, so I've got a clean record.

Also, would I be able to call my insurance company and get an estimate for an accident without making a claim or them being suspicious?

And to everyone saying "just pay for it" yea that's what I'm trying to do but she's really not the most forgiving person, so I'm just inquiring if worse comes to worse.

[Masked Bandit]

Originally posted by Rev15
I'm 19 now and I've been driving since I was 14 if you include a learners permit. I was under my parents insurance from then (getting my GDL @ 16) and I've had my own insurance (plpd only) since last August, this is my first accident, so I've got a clean record.

Also, would I be able to call my insurance company and get an estimate for an accident without making a claim or them being suspicious?

And to everyone saying "just pay for it" yea that's what I'm trying to do but she's really not the most forgiving person, so I'm just inquiring if worse comes to worse.

1) Time licensed as a learner doesn't count for anything.

2) A "clean" insurance record for one year doesn't really count for anything either. A "clean" record in insurance needs at least six years history.

3) I wouldn't worry about the insurance company getting suspicious. I have these types of conversations with my clients all the time. It only counts if it gets to the point of filing a claim.