$1000 Fender Bender Question Pay the Person Vs File a Claim?

[NCAgent]

In addition for the amount the rate will go up:

There are discounts included such as safe driver discounts, claims free discounts, and things like that. So you also need to see if you get a surcharge AND lose those discounts, for a double-whammy. You could also, in the same regards, have accident forgiveness and the whole thing doesn't matter *this* time.

I don't know how your state works but an agent can help you out with these things.

 

[b61mack]

If you pay them, the 1000, make sure you get them to sign a waiver, resolving you of any more damage,claims. I would pay them the 1000. have them sign the waiver. Most likely they don't want to have to report it either.

 

[Guest]

My suggestion is always - Don't involve the insurance company if you don't have to.

because the other party can be shady, you have to be really careful and to get signed documents stating it was settled and no claims will be filed.

To be honest most preferred companies like liberty mutual, state farm, allstate, ect will increase your rate as much as 50%-75% after an accident if you claim it. This is why I love dealing with ex-statefarm clients. It really strikes a nerve when you point out to people that they may have been with their insurance company for 5-10 years and after 1 mistake they kick them to the curb or double or triple their rates.

 

[jeffdcar]

Update, offered him $700 for the damage he said He'd rather file a claim, bummer..... Oh well, thx for the info

 

[insurancesmarty]

When you are involved in an at fault accident it is a good idea to ile the claim with your insurance company. This protects you in the event that the person all of a sudden finds additional damage to their car or if they now claim to be hurt. Although your insurance may go up it is better to be safe rather than sorry.

 

[Guest]

When you are involved in an at fault accident it is a good idea to ile the claim with your insurance company. This protects you in the event that the person all of a sudden finds additional damage to their car or if they now claim to be hurt. Although your insurance may go up it is better to be safe rather than sorry.

Smarty how to you ile a claim and since when do rates go up for a non fault booboo?

I have never told a client to file on their own insurance unless there was an issue with the other parties insurance.

 

[moonlightandmargaritas]

I have never told a client to file on their own insurance unless there was an issue with the other parties insurance.

This is very wise advice.

 

[Bonn354]

Pay the person.....

The insurance company will get their money back one day!

Use insurance as a worst case option.... Never as maintainance

my wife hit a vehicle from behind this morning. The damage to his vehicle is $1,000. Should I pay him the $1,000 or let him file a claim? My vehicle cracked the bumper but not enough to file a claim. But if I let him file a claim for his vehicle should I also let my insurance repair my bumper? The big question is how much will my premium go up if I let file a claim? I have Liberty Mutual, no prior accidents/tickets. Thx for the input!

 

[jonc]

The true danger zone here is B pary making a med claim for some type of lower back injury in the future.
I would turn the claim in.

 

[geneseehill]

Safeco a subsidiary of Liberty Mutual surcharges going back 5 years for losses and driving violations. My guess is that you would be surcharged more then that over the 5 years. Make sure the claimant signs a Release of All Claims...you don't want to pay and have to deal with it later.