I just got into a car crash and i have to pay 500 deductible..?

Question

this accident was my fault

and it involved three cars

im pretty much a new driver in california and im insured by AAA.

how much will my parent's premium go up by after i pay off the 500 deductible?

Answer 1

First of all, don't panic.  This is what insurance is for....to take care of all claims that will be filed against your parents policy.  That's what liability property damage is for.  Hopefully, the other parties involved will not file bodily injury claims.  Unfortunately we live in California and it is a sue happy litigious state.

Now - you will be responsible for the deductible because you were negligent in the accident.  You will not have to pay the $500 deductible until after your car is done being repaired.  There is no deductibles for the liability coverage that will pay the other parties damages.

Now, this accident will follow you...not your parents driving record.  So, this means you will probably amass points on your record because of this accident.  It is unclear if your parents will or will not see a premium increase - you won't know until the next renewal.  

Lastly, the good news is if your parents have been with AAA over 5 years - the policy will not be canceled. AAA has something called guaranteed lifetime renewal, regardless of how many claims are filed on the policy.

I wish you luck, just make sure if you receive any phone calls from the other parties - to refer them to your insurance company for further handling....and file your claim right away.

Answer 2

Unfortunately there is no way of knowing this.

The insurance will figure out the premium increase after they total up all the damage and/or any injury claims to all vehicles and parties involved.

In California for most insurance companies, causing more than $750.00 total is going to make the premium increase. That includes your own car.

This is a question you won't be able to have answered until AAA has paid the claim in full.

Answer 3

There is really no way of telling until the claim is completely settled and your policy is re-rated at renewal.  Until the claim is settled and closed, the entire amount paid out is not certain.  

Policies go through complex calculations to determine your rate.  Factors such as accidents, violations, claims made, amounts paid out, deductible amount, driver experience rating, vehicle type, coverage type, etc, etc....are all calculated into your premium.

The payment of your deductible does not affect the result of the claim.  Your deductible is only the amount that you agree to pay in the event of a claim where money is being paid to you to repair your vehicle.  You deductible does not have any effect on the amount of money paid to other parties with claims against you.

Also, the only way that deductible affects premium is by choice of a higher or lower deductible.  A higher deductible means that the insurance company will pay out less in the event of a claim, therefore, you are assed a lower premium.  Lower deductibles result in higher premiums.

I hope this is helpful.  Accidents are confusing and scary, especially when you are a new driver.  Take care and good luck.