Options on Hit & Run Case?

Question

It Happenned today when I returned from a Target, I noticed big dent on bumber. It seemed some one hit the car and ran away. I didn't give police complaint. I have comprehensive Mercury insurance with $500 deductable. My friend says it will cost close to $1500 which is a big amount. So what are my options here..

If I claim it to Insurance, I have to pay 500 and the rest will be paid by Insurace company..

I don't have any previous claims and my 5 yrs driving record is good so far.

Now the questions are

1) How does it affect my future premiums and how long & How much ?

2) Does it affect my driving history ?

3) Do I need to inform police ?

4) Does this show up in Carfax report, if ever want to sell this car ?

Answer 1

Hit and run accidents stink!  I've had it happen.  You have my sympathies...

1.  Given that there was no driver it should  not affect your immediate future premium at all.  That said, if you have an at-fault accident and they decide to cancel you for claims frequency (too many claims), they may list this as part of the reason for cancellation.  Claim frequency has nothing to do with fault.

2.  It would not affect your drivers' license at all.

3.  It's always good to report it to the police, and from the scene of the accident.  That way no one can comeback and say you caused the accident.  Also, the insurance company is going to want to see that you filed it as a hit and run.

4.  It will show up on a Carfax report if you ever want to sell the car.

My advice would be to go ahead and get a estimate from a body shop (not a friend, unless they run a body shop!).  Once you have that figure in hand you'll be better able to judge your risk.

If your friend is right and it is $1500 I'd put in the claim.  Heck, I'd probably put it in for anything over $750 or $800...

Good luck!

Edited to Add that Michael is wrong about an insurer increasing your premiums for every claim.  It just isn't so.  You will get an increase for an at-fault accident, but if the car was unoccupied I don't know of any company that would surcharge you!

Answer 2

I agree with Wendy S.  I've had this happen a couple of times over the years.  I was told my premium wouldn't increase, since I wasn't at fault.  After the first hit and run, I got a police report, or report from the security (on private property).  I did get stuck with the deductible.  It never affected my driving history.

Answer 3

Any claim you file against your insurance that makes the insurance company have to pay for anything is going to increase your premiums.  How much and how long depends on your individual carrier.  In the long run, the increase in premiums is probably going to be a little more than the benefits you receive.

It should not affect your driving history since you're saying you weren't even in the car.

Whether or not you need to inform the police is between you and your insurance company.  Some companies won't process a claim without a police report.  Others only want one of their adjusters to see the damage.  Usually, police won't even respond to accidents that happen in private areas like driveways or parking lots (i.e. not on a public roadway).

If you make a claim against your insurance and your carrier cooperates with CarFax, it will show up on a vehicle report.

Best of luck to you.