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 Posted: Fri Sep 11, 2009 3:44 pm Post subject: Should I settle w/o going thru my insurance? |
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I rear ended someone and was wanting to see if I could settle it with the person w/o going thru insurance. They gave me an estimate on the work and it is a little over $2000 and they said that they would accept $1500. If it goes thru my insurance my rating will not go up b/c I am allowed one accident with no effects to my insurance. Would it be better to just go thru insurance?
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| Posted: Fri Sep 11, 2009 6:16 pm Post subject: |
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Perhaps I'm missing something....
One one hand your insurance pays the $1500/$2000 and this does not affect you other then you can't be in another accident for awhile. The other hand is that you are out of pocket $1500 but if you are in another accident you won't see a rate increase.
Why not simply file this claim and save the $1500? If you are not in another accident, great. If you are then you might not even pay $1500 more. |
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tcope
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| Posted: Fri Sep 11, 2009 11:06 pm Post subject: |
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| Quote: | | I rear ended someone and was wanting to see if I could settle it with the person w/o going thru insurance. They gave me an estimate on the work and it is a little over $2000 and they said that they would accept $1500. If it goes thru my insurance my rating will not go up b/c I am allowed one accident with no effects to my insurance. Would it be better to just go thru insurance? |
That's entirely up to you, and certainly your right. I would just advise you that when (and if) you decide to pay them that you have the owner of the vehicle and ALL occupants of the vehicle sign a release, of 'all claims known and unknow'..to protect yourself from any future injury claims that could surface.
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Lori
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| Posted: Sat Sep 12, 2009 4:52 am Post subject: |
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Hi..Lori and tcope have already shown you the best way to think about it, but I'm a bit curious to know why you're hesitating about involving your insurance carrier. I can understand that you may not wish to lose the one-without-effect option right now, but see, this one could be one good opportunity for you to be more cautious.
| Quote: | | If you are then you might not even pay $1500 more. |
I'd agree to it! Does this $ 1500 seem a lesser amount to you?
Right now you may be in a position to pay this $ 1500 out of pocket, but who knows what the future has in store for us. Later on if you'd ever need to use this without-effect option for a lower settlement then you could be at a loss too. Pinkfloydfan
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Pinkfloydfan
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