Hit friends car, we both have insurance?

Question

About a month or two ago I backed into my friends car. I offered to pay out of pocket but found out that I would not be able to in a quick enough time frame(1,000$+repair estimate). What would be the best option for both of us to pursue keeping in mind we are both good friends? Also know that it is not my intention to "s***w" him over it will just be a bit of time for me to pay. We both have insurance.

Answer 1

Using the SE like google or yahoo to get some hints first if you want to obtain the massive information,if you do not want to spend too much time,here is a good resource for your reference about your questions.http://car-insurance.easyideas4u.info/ca...

Answer 2

your crazy.  Whatever you do, DON'T report it to your DMV.  both your insurance rates will go up about 40 percent for about 8 months to about 2 years depending where you live.  Plus it looks bad, so a salvage title might be issued.  1000 may seem high, but it's nothing compared to what you will pay in the long run.

Answer 3

It may be worth it for you to make a claim and let your insurance company pay for his damages, especially if he needs to get his car fixed before you are able to pay for it.  Your policy would cover him under your liability coverage, and you would not have any out-of-pocket expense.  The determining factors for you would be whether you wold rather risk your friendship or risk paying a slightly higher premium.  You may want to check with your company to see if you would be charged more premium if you submitted a claim for that amount.