Car was hit in a parking lot while i was not there, will my insurance premium go up?

Question

I had parked my car at work. In the evening i saw that my front bumper was pulled out on the right side and a dent in the right fender. I have a $500 deductible and i got a few estimates for repair to be around 1500-1700. Am i better off paying it on my own or go through my insurance?

Answer 1

If you have UMPD (Uninsured Motorist) you would most likely only have $300 ded.  If you only have Collision Coverage, then you would have a $500 deductible.  This would be considered a not at fault accident and should have no effect on your premium.

Answer 2

Use your insurance and don't worry about IF your rates MAY go up !  You've got to be kidding !  You are considering paying $1500-1700. out of your own pocket when you have insurance that will pay $1000.-1200. of the cost ?  Why even bother to have insurance if you won't/don't use it ?

Answer 3

Most likely your insurance will increase, as you arent able to provide the insurance company with a plate for the at fault driver.

There is a $1000-$1200 difference between your excess and the cost of the repair. I cant see your policy going up $100 a month.

If you have a good history and havent made many claims before, it shouldnt affect your policy price too much. Some insurance companies give you one claim a year without a price increase.

Why not ask your insurer first? A small increase of $10 a month would be preferrable to a outlay of $1500.