Question for the MMM community:
I scratched a parked Porsche the other week with my car and just received a repair quote from the car owner. The repair total is $1,700. Fortunately, I have the liquidity to pay the repair out of pocket. I no longer have collision or comprehensive coverage on my car and just have the standard $100M/$300M liability coverage (paying about $300/year currently).
I'm planning to call my insurance company to see if my policy includes accident forgiveness. But assuming this isn't available, my gut tells me that I should just pay the repair out of pocket and not file a claim because the insurance company will probably raise my rates over time by a present value of greater than $1,700. Is my thinking correct on this?