Sunday, December 4, 2011
For car insurance rates, does the amount of the claim matter, or is it just that you had a claim?
Wondering about how car insurance premiums work. I just got into an accident this morning. I rear-ended someone so it was my fault. When we file a claim to fix her car, is it worth it for me to get mine done as well? Or will getting mine fixed cause my premium to go up even more when its time to renew?|||Most companies will hike up rates if you have filed for a claim. Usually, the higher the claim, the higher the insurance hike. In contrast, if you have a clean driving record and no claims in your history, you will get significantly lower rates on your auto insurance. It may be a good idea not to make a claim for fixing your car unless it is a small amount. Unfortunately, this accident will raise your premiums anyway, unless your auto insurance company waives a premium increase on the first accident.
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