With some types of accidents, it ‘s very well to leave your insurance company out of the equality and pay out of pouch. But there are factors to consider before doing so, including how many people were involved, how hard the accident was, and legal requirements in your sphere .
When you may pay out of pocket
If you get into an accident and file a claim, there ‘s a opportunity your indemnity company will increase your premiums — costing you hundreds if not thousands over the coming years. If you find yourself in the keep up situations, think twice ahead calling them up .
An inexpensive, single-car accident
Some accidents lone involve one car — for case, you ‘ve bumped into your kid ‘s basketball wicket and it ‘s left a indent in your door. Or, a branch fell on your cable car and cracked your windshield. These types of claims are handled through your collision or comprehensive policy.
Both coverages come with deductibles that can range from $ 50 all the manner up to $ 2,000. If the cost to repair your car will cost less than your deductible, or even just slightly more, you should handle the repairs out of pocket .
For model, if the damage to your car costs $ 300 to fix and the deductible is $ 200, you would save $ 100 by filing a claim. But your indemnity party may decide to raise your rates, costing you much more than $ 100 in the long run. If you decide to pay for the damage yourself, make certain your estimate of the damage is accurate. You wo n’t be able to file a claim late if you find out the circular is much higher than expected. That ‘s because insurance companies require drivers to report accidents and put in claims within a certain time inning. Check your policy for details .
You do n’t need to report a car accident if you ‘re the only person involved in the accident, no one is injured and you can pay for the checkup bills yourself .
If you hit a pedestrian however, that always needs to be reported.
A very minor two-car accident
If you ‘re in a car accident with one other driver and the damage is minimal, you can agree to not involve the car policy companies. Both drivers can avoid indemnity rate increases. But we alone propose going this route if you have reason to trust that the early driver wo n’t change their take care .
Unless you know the early driver or have argue to trust them, we recommend you call your indemnity ship’s company even with minor two-car accidents .
Call your insurance company in these cases
Some accidents need to be reported to the policy caller, no topic what .
Accidents where someone else is injured
If you ‘re in a car accident and another driver or passenger is injured, you must report the accident even if the injuries are minor. medical expenses are dearly-won no count where you go in the U.S., and the early person may need to file a claim with your insurance company.
How much you need to pay depends on who was at demerit, the academic degree of fault and your submit laws .
- For example, If you live in a state like Missouri
- On the other hand, if you’re found as less than 50% at fault in New Jersey
You ‘re best protected if you report the accident to your insurance company ( and the patrol, if necessary ) in case you or the other driver needs to file a claim. You ‘ve spent a draw of meter and money finding the best cable car indemnity company, so you ‘ll want their support when you need them the most .
Accidents where the damage is costly
Whether the accident involves one or multiple cars, if there ‘s a bunch of damage, you must report it to your policy company. For exemplar, you drove into a build and no one is injured — there ‘s credibly a draw of damage involved. Odds are, person will seek payment from you .