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Collision claim - will your insurance go up? |
I hit a pole the other day with the side of my truck. There were no other cars involved and there are just a few scratches and one big dent. If my insurance company (Allstate) pays to fix it under my collision coverage will my rates go up? I know I have to pay the deductable - just wondering if my monthly payments will be higher. well... 1. Your rates can't be raised until your renewal and at that time you would have the choice to renew with them or not. That might be a good time to shop around if you are concerned about rate hikes. Competition is good. 2. If your rates are raised, it can be based on a number things: What kind of vehicle you have, what color it is (yes, it does make a difference), the zip code where you park your car at night, your credit rating....... Collisions CAN have an impact depending on your driving history, number of claims you make, severity of the loss. However, depending on your carrier...the loss may not be the primary deciding factor on raising your rates. Underwriting guidelines determine your rates. Sounds like your collision loss is not severe and is likely under $1500 depending on where the "big dent" is. So, best of luck to you. ~jifr! Source(s): Insurance professional 10+ years. If they live up to their word they should have "accident forgiveness" for the first wreck. If you hit anything else like a pole or a tree or a mailbox, don't cal the cops or the insurance company. Chances are your deductable is almost as much as the cost of the repair. Involving the police and insurance will hurt your driving record and eventually raise your insurance rates. Next time, just fix it yourself, or hire someone to do it on your own - it will save you alot of trouble in the long run. It would depend on the State you live in, but in NJ I know it does go up. You can go see someone and have an estimate done before you decide if you want to go that route. This way, you know how much you have to pay, and if you have a deductible of $500 and your repair is $600-$800, and if you have the cash/credit - I would pay out-of-pocket. If you don't, if it doesn't rust out the side of your truck, you can wait until you have the money to fix it. If it does rust, this is not an option. Either way, $500 is coming out of your pocket. I don't know what else to tell you except when you do get it fixed, you're going to be much more careful how you park & get out of parking spot. I did. It depends on the car insurance company and how many car accidents you are involved on your driving history. You can try to consult it with your car insurance company and seek guidance about it. Try to visit this cheap car insurance site http://www.nightbirdssolutions.com... for your reference and access to your car insurance company. Yep, it sure could. Usually, it goes up. However, Allstate does offer accident forgiveness IF you: a) Signed up for the new Allstate Fire and Casualty and got the Gold or Platinum package. These give you a free accident without raising your insurance premiums, amongst other benefits. b) Have been with Allstate for a long time (believe it's 5 yrs) and have not had an accident yet. Then they may not raise your premiums. The best thing you can do is call your agent and let them help you decide if you should file the claim. |
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