Car Total, No One Else Involved...Tell Insurance?

[TurkeyOnRyeII]

Wouldn't I stand to spend more on insurance in the long run?

 

[Abigail78630]

I was in an accident that totaled my vehicle. No one else was involved. How do I approach this with insurance? Will my liability rates go up if I tell them I was involved in an accident? I have an annual liability insurance policy that is paid in-full. Can I get a refund, or should I just take it as a loss so there isn't a gap in my insurance coverage?

If you have a insured car then you don't have to tell them any thing they will do what they have to do you have to sit and watch.

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If you have a insured car then you don't have to tell them any thing they will do what they have to do you have to sit and watch.

 

[VolAgent]

Wouldn't I stand to spend more on insurance in the long run?

Quite possibly. A lapse in coverage may result in a surcharge for the first policy period. Also, it will almost certainly keep you from getting some discounts. This is a generality as every company has their own rating system.

So depending upon exactly how much you are paying and how long the gap is, the savings may be outweighed by the higher cost later.

 

[KenP]

I can tell you from personal experience the massive difference in price I'd have to quote people at GEICO when it came to light they no longer had the policy. The effect is more and more impactful the longer you've been with your current insurance carrier and how much bodily injury liability you carry.