Filing an Auto Insurance Claim Isn’t Always the Most Affordable Option
If you are in a car accident that isn’t your fault and the other driver’s auto insurance covers the claim, then your auto insurance premium won’t be affected at all. However, if you are the at-fault party in a collision and you file a claim under your collision coverage, then you may see your premium take a leap when you renew your policy. To avoid this increase, many drivers consider paying for minor damages out of their own pocket.
The Pros of Filing an Auto Insurance Claim
♦ Your auto insurance company will cover the accident up to your policy limit, potentially saving you thousands of dollars
♦ You don’t have to worry about negotiating with a repair shop regarding the cost of repairs; your auto insurance company does that on your behalf
♦ If your policy includes rental coverage, then you won’t have the added expense of renting a vehicle while yours is in the repair shop
The Cons of Filing an Auto Insurance Claim
♦ If you currently have an accident-free discount, then you may lose your eligibility for the discount
♦ Your auto insurance company may raise your premium when your policy term renews
♦ The accident will be on your record for 3 or more years, which may affect your rate or ability to get affordable auto insurance coverage from another provider
Making the Right Choice
Read More: Auto Insurance in Las Vegas, Nevada
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DISCLAIMER: It is important to note that the information contained herein is made general for the purpose of explanation. You should consult your policy for exclusions or other language that may alter your policy.