Should I File a Car Insurance claim

Should I File a claim?

There are some nice advantages in not filing a car insurance claim.  In some situations it will make sense to file a claim.  When you are in an accident with major damages to your vehicle or your auto is stolen.  For other instances there may be questions as to how beneficial it will be.  Before filing a claim there are some areas that should be considered.

Filing Claims Increase Cost

Whenever you file a claim there is a good chance you see will see an increase in your premiums.  This can relate to major accident damage or minor fender bender repairs.  For major damages it will make sense to get repairs done in order to get your vehicle back on the road.  What are examples of where claims can be avoided?

Minor Claims can be avoided

There are many different minor types of damages where your car will operate fine if you don’t make repairs.  For things like a broken windshield your deductible will likely not be low enough and it is a good idea to replace it yourself.  For minor damages, such as a tree hitting the side of your car or damages to your fender, it may be better to not report damages.  Either you can find a shop to repair the car or you can operate the car as is.  With an older car it may be easier to leave it as is, if the cost is close to the deductible or a small amount above it likely is better to pay for the damages yourself.

Coverage Strategy

If you are ok with paying for damages or leaving your vehicle as is after minor damage it is wise to increase your collision and comprehensive deductibles.  Collision is one of the more costly coverage’s and making changes is a great way to save money.   Check in with your current company to see how pricing will change by adjusting the size of your deductibles.

Lower Claims Improves Marketability

A final point with not filing claims is you will be more marketable as a customer to other insurance companies.  This will enable you to get more quotes and make it easier to find attractive pricing on car insurance.  Keeping your cost down each policy period is an excellent way to keep your monthly budget healthy.

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