Any car insurance agents here? I have some questions

[bigwillster]

Hey howz it going elite bros and gals.
I have two cars in my insurance policy and i let one of my cousins borrow a car and he rear ended another car. The damage is minor ($1,200).

1. Will my insurance go up for something minor like that. If so, for how long
2. Will they cover it since he was driving(he is NOT excluded from my policy)
3. Is it a better idea to pay the damage on our own?

Thanks for your help in advance

 

[decem]

1. maybe yes.. probably for a long time.. but i'm really not sure
2. who knows.. but in insurance terms - "you are fucked"
3. i really don't know..

Thanks for your help in advance

any time buddy..

 

[bigwillster]

hmmmm

1. maybe yes.. probably for a long time.. but i'm really not sure
2. who knows.. but in insurance terms - "you are fucked"
3. i really don't know..





any time buddy..

 

[beefybull]

Hey howz it going elite bros and gals.
I have two cars in my insurance policy and i let one of my cousins borrow a car and he rear ended another car. The damage is minor ($1,200.

1. Will my insurance go up for something minor like that. If so, for how long

-If you make a claim to get your car repaired, it will definitely go up. In most states, your premium will increase and remain increased for 2-5 years (depending on your policy, laws in your area, etc.). How much your premium will go up depends on your past driving history, age, sex, etc.

2. Will they cover it since he was driving(he is NOT excluded from my policy)

- You answered yourself. If he is eligible to be covered under your policy, they should cover it. If you have full coverage, you can generally make a claim whenever you need to, even in non-driving situations (hail storm, etc.). You just have to decide if making a claim, paying your deductible, and then dealing with higher premiums is really worth it.

3. Is it a better idea to pay the damage on our own?

Its up to you. If you dont have the money to get the car repaired now and you want it to look good again quickly or fix parts, then go ahead. Just remember your insurance will go up. On the other hand, if you are rich and can throw money around or dont mind driving the car wrecked for a while until you can save the money to get it done, I would pay for it myself for sure.

If you do decide to bite the bullet and make a claim, get estimates from several places and try to make sure they are high estimates. Unless you go totally overboard, your insurance will increase by a set amount. So if you got an estimate that said $1200, try to get some that are higher, like $1500-2500 or something. This will give you some extra money to fix your car better or blow elsewhere. Getting them from several places is a good idea (3-6 estimates, mail them to your Ins. Agent ASAP, they will generally average the estimates so try not to send low ones)

What kind of car was it? What exactly was the damage? Anyway, hope this helps!

 

[TEXgrl]

it is very likely that your ins co will drop you if you file a claim with someone else driving on your policy.

you premiums will go up.

sorry

 

[MattTheSkywalker]

Hey howz it going elite bros and gals.
I have two cars in my insurance policy and i let one of my cousins borrow a car and he rear ended another car. The damage is minor ($1,200).

1. Will my insurance go up for something minor like that. If so, for how long
2. Will they cover it since he was driving(he is NOT excluded from my policy)
3. Is it a better idea to pay the damage on our own?

Thanks for your help in advance

1. Whether or not you report it, your premiums are going up. here's why: the other driver is going to file a claim with his carrier. His carrier will pay him, and then bring a third party claim against you for the money. Your carrier (as part of your policy) has a duty to defend you from this claim up to the policy limits...in other words, your carrier will re-imburse the other carrier what they paid their insured, since your cousin caused the loss. This is called subrogation.

How you can avoid this: Call the other driver. Arrange to pay his loss so that he will not file a claim. Good luck.


2. It depends on the policy wording. If he has insurance, your coverage should be primary, and then his will be excess. How high the primary goes depends on your policy wording. His excess will only come into play if the other person's claim exceeds your limits. (In other words, if the person is claiming bodily injury).


3. Yep. But be prepared to pay both claims. get your cousin involved too.