Car insurance with accident on record

[sloof70]

I turned 25 last January and started with Progressive in February with a liability policy for $40 a month on my late '98 S10 pickup.  Was happy about this, as it was about half of what I had been paying with State Farm prior.  Then in March, dummy here who can't see so well in a dark driveway bumped my dad's parked Acura while backing up.  The dent was minor, but the payout was around $2700 in bodywork.  A few months later when it was time for renewal, my premium jumped up to $77.  Shopping around and checking with an insurance broker did nothing.  Checked again recently with Geico, and they gave me a quote for $86 with same coverage assuming the accident was 1-3 years ago (should I switch this coming February).  Despite the fact that I won't pay as much as the bodywork cost, this little driveway bump is costing me.

Does anyone have any ideas on how to bring down insurance costs in a situation like this?

[The Money Monk]

Why did guys make an insurance claim when it was an immediate family member's car? I would have offered to just pay to fix the damage.

$2700 seems like an awful lot to fix a small dent.

[toodleoo]

Your best bet is probably to stay with Progressive. Eventually the claim will fall off of your record and your rates should go back down. If you stay with them, you'll also probably start earning some kind of loss-free or longevity discount the longer you're with them.

But as a check, you should continue to periodically get quotes from other carriers to see if there's anything cheaper out there. Companies can change rates frequently.

[sloof70]

Why did guys make an insurance claim when it was an immediate family member's car? I would have offered to just pay to fix the damage.

$2700 seems like an awful lot to fix a small dent.

Because it was my dad's newer car and he didn't want a noticeable dent on the front passenger door.  I guess it bent some internal column that necessitated a replacement door per safety standards.  With a replacement door and a color match, that's what it cost from a reputable body shop.  At an extra $200 on this 6-month premium that will gradually go back down over the coming years, I will never pay as much as the $2700 it cost.  The other option would have been for him to do a hit and run claim, but I'm not terribly interested in playing around with insurance fraud.

Your best bet is probably to stay with Progressive. Eventually the claim will fall off of your record and your rates should go back down. If you stay with them, you'll also probably start earning some kind of loss-free or longevity discount the longer you're with them.

Good point.  Ride it out and then get the longevity discount.