Insurance repair bill (how do i protect myself if i pay for damages)and not inform insurance?

Question

i had an accident i offered to pay for damages and repair how do i protect myself if they change there mind in 3months and look for even more money through insurers, if i tell my insure and pay my self the insurance will still go up

Answer 1

If you pay for the other party's damages out of your own pocket have them sign a release saying that those are their damages that they suffered because of the accident and they will not sue you in the future. If they are legally barred from suing you they cannot seek any further compensation from your insurer. If they won't sign it, give them nothing and tell them they'll have to speak to your insurer from now on.  However trying to settle can be construed as an admission of liability, which may be a reason for your insurer to deny your claim, since you are not suppose to settle the claim with the Third Party without the insurers knowledge. However in order to best protect yourself you will have to go through your insurer.

Answer 2

You either go through your insurance or you don't.  That's the choice you have to make.

Answer 3

Go through your insurance company, you could tell the insurance company that you want to pay the claim yourself, and pay it.  Insurance companies negotiate prices so that also could be to your advantage.  But the loss on your policy would be $0 if you paid the claim yourself, so provided you didn't get a ticket in the accident your rates shouldn't raise.

Answer 4

This is the great catch-22 when it comes to auto insurance.  You pay and you pay and when you need them, you pay even more.  It almost seems that having insurance is not needed, since you pay one way or the other.  This is why there should be no fault insurance which would eliminate the fraud that the insurance companies are trying to protect against.  I don't know what to tell you about paying these people other than maybe to get them to sign a contract that states they have no additional claims against you or your insurance related to this.  Make sure it is worded so as to be a legal and binding contract in your state.  If they come back to try and claim against your insurance then this document could prove fraud.  Of course in 3 months they could claim some mysterious delayed injury, but it would be hard for them to prove it was related to your accident.

Answer 5

I would agree with DMG, have them sign something and on the check note in the memo line PAID IN FULL for all damages on whatever date (if you can fit all of that into the line)