Should I report a claim to my insurance company?

Question

My car got hit while in a parking lot. Don't know who hit me, nothing! I went to my mechanic and he said it would be around 500 dollars to fix the damage. I have a 500 dollar deductible for my coverage. I've never really had to go through this process so I'm unsure if it is worth it to report my claim to my insurance company. I feel that once I report it, I will end up paying the 500 dollars and a chance that my premium will get increased. Any advice is helpful.

Answer 1

One of my friends asked me this kind of questions before,I found helpful here.http://car-insurance.bestips.info/car-in...

Answer 2

Don't report it. If it's just some cosmetic damage....then don't worry about it. Once the repair shop knows it's being paid for by insurance, the repair bill goes UP and then so does your premium. And in the case of State Farm insurance, they put it on your driving record. TRUTH. It happened to me.  

Answer 3

Don't turn it in if it's less then or barely above your deductible.  Your insurance rates could increase.