Here’s a question we are commonly asked by our clients: “Should I file a claim or pay out of pocket?”
In most cases, this answer to the question, “should I file a claim or pay out of pocket” is pretty obvious based on the type of accident it was. However, there are times when the answer isn’t so black and white. It is our job as insurance advisors to advise you on whether a claim should be filed or not.
We want to be very clear: these are just some guidelines you could follow when making a decision, but each situation is different. It’s really best to consult your trusted insurance advisor before deciding to pay out of pocket or file a claim.
Generally speaking, here’s when you should file a claim and when you should pay out of pocket…
- If someone else was involved in the accident, you should file a claim.
- If no one else was involved in the accident and the damage was less than your deductible, you should not file a claim.
- If no one was involved in the accident and the damage is slightly higher than your deductible, you should not file a claim.
- If you’ve recently filed another at-fault accident, and the damage is minimal, you should not file a claim.
If another driver was at fault for the accident, you would want to file the claim on their insurance if you have their insurance information (always get their insurance information at the scene of the accident!)
But what is a deductible?
A car insurance deductible is the amount of money you’re responsible for paying after you file an approved insurance claim. Your insurance company covers the rest, up to your coverage limit.
Will filing a claim increase my insurance?
Whether or not your insurance increases after filing a claim depends on a couple of things:
- Your insurance carrier
- The circumstances surrounding the accident
- Who was at fault in the accident
- Your accident and claims history
It’s important to know that even filing a $0 claim (where you are not paid anything) can still affect you. With guidelines getting stricter, claims frequency can impact your policy. A $0 claim may not lead to a surcharge, but it can lead to a non-renewal or prevent you from getting coverage with another carrier.
As you can tell, there are a lot of factors that are in play when you have an accident. Your first stop before filing a claim should always be to call your insurance advisor. They’ll be able to guide you through the best choice for your specific information.
Have more questions about claims? We are here to help! Call us at 330-758-3339.
A little more about The Agent Insurance Services…
The Agent Insurance Services is a full-service independent insurance agency. This allows us the ability to offer a full range of protection such as home and auto insurance, commercial insurance, and life insurance to all of our clients. To put it simply, we make sure our clients have the same coverages we have. Why would you want anything less? Our exceptional team of Protection Advisors offers professional advice and service you can afford. Please call us and tell us what is important to you. We’ll do the rest.