I had a accident hit someone in front of me .would i be better off paying for the damages myself or insu.?

Question

500 deductable not sure how high my rates would go up as it is my first acc. i am 24..

Answer 1

first find out how much was the damage to third party "scar if it was your at fault your insurance WILL go up IF you can afford it it is best to sattel with cash good luck

Answer 2

It depends on how much damage was done to the vehicle you hit.  If the damage was $1000 or less (or more if you can afford it) , I'd say go ahead and pay for it out of pocket.  If you turn it in to your insurance company, your rates will most likely go up so they can recoup the cost of the payment to get the vehicle repaired.  Also, you aren't really specifying if the accident was actually your fault - there are some unscrupulous drivers out there who slam on their brakes and wait for the person behind them to hit them!

Answer 3

You're better off putting the claim through your insurance.  Once you start paying a claim, your company is off the hook - off the hook for damages, off the hook for rental car, off the hook for six months of chiropractor treatments and three weeks of lost wages, and lots and lots of pain and suffering compensation.

Answer 4

Let the insurance cover it.

Answer 5

If you go through your insurance and have them pay for the damages your insurance will go up.

Answer 6

Weigh out the pro & cons.

If you pay for it yourself, the other party may come back with supplemental damage, bodily injury, pain/suffering.  Then where are you at?? Paying out damages whether in a lump sum to them or to an insurance company where you've already paid for the coverage and your premium goes up for 3 years.

If your insurance company handles it, you wipe your hands clean.

Answer 7

I am continually amazed because people pay perfectly good money for insurance and then don't/won't use it because their rates  <M A Y> go up.  In effect they are insured twice.  Once by the insurance company and again self insured by themselves.  I'll bet Insurance companies just love people who pay them money and then never submit a claim.  Do the math.  If a claim costs you 3,000 out of pocket or costs you a possible increase in rates for a couple of years, (typical is 10-20% the first year and less for the second and sometimes a third year)  then it should be easy to figure which is going to cost you more.   USE YOUR INSURANCE !  That is what you bought it for.