The Money Mustache Community
Learning, Sharing, and Teaching => Ask a Mustachian => Topic started by: SavinMaven on July 07, 2019, 06:57:28 AM
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Yesterday, I rear-ended an older pick-up truck in a right turn lane. (I thought he had already gone - he hadn't). My car is a 2013 Camry. The police were actually already there (next lane over), we waved them over, and there is a police report, which I can get a copy of on Wednesday. I was completely at fault. I'm in my 40's, have never caused a crash before, and plan to go back to my better driving habits immediately.
We each had some bumper damage. Of course my insurance company will pay for his repairs, my question is - should I pay cash for my own repairs, or go through my insurance? If I had hit something else - like a tree - I wouldn't involve my insurance. I guess that's just a mantra I've absorbed, that insurance is only for major things. Does that philosophy hold here? My insurance will already be involved, so the crash will already raise my rates. Is there any advantage then in paying cash for my own repairs, or should I file a claim?
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Since your insurance company will already know (even just the police report without a claim might have done that) I can't see what advantage not taking the insurance money would have. I could be wrong though.
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Since your insurance company will already know (even just the police report without a claim might have done that) I can't see what advantage not taking the insurance money would have. I could be wrong though.
That's my thought too. In for a penny, in for a pound.
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File a claim unless the cost to repair is less than your deductible. "Some bumper damage" can range from $500 to $3000+. I wouldn't worry about your rates rising because of the claim in this scenario.
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Most carriers look at all the items related to a crash as a single "bad thing." So if you got a ticket, had a PD claim and also had a collision claim, they would all be tied up as one "at fault" claim. I see no benefit to you to pay cash. Also, the insurance company typically has negotiated rates, and many have preferred shops where they will guarantee the repair if you use them. You've already got the at-fault, I'd file the collision claim too.