Car insurance collision question

[bran987]

ok

say I got in a wreck

and say it was my fault

say my car is worth $4,000 and it would cost $2,000 to fix my car and I don't want to fix it because I'm selling it in a week and getting a new car, so it's not worth fixing the cosmetic issue.

say the damage to the other car is $3,000

say my deductible is $1,000

someone is telling me if I claim this on insurance to pay to get her car fixed, I don't have to pay the deductible unless I want them to fix my own car too.. I only have to pay the deductible if I want the insurance to pay to fix my own car as well.

is that true? that doesn't sound right.

 

[Razorguns]

ok

say I got in a wreck

and say it was my fault

say my car is worth $4,000 and it would cost $2,000 to fix my car and I don't want to fix it because I'm selling it in a week and getting a new car, so it's not worth fixing the cosmetic issue.

say the damage to the other car is $3,000

say my deductible is $1,000

someone is telling me if I claim this on insurance to pay to get her car fixed, I don't have to pay the deductible unless I want them to fix my own car too.. I only have to pay the deductible if I want the insurance to pay to fix my own car as well.

is that true? that doesn't sound right.

Whether you wish to fix the car or pocket the money is up to you. The deductible means, whatever they decide the cost of fixing the damage is -- $1000 is automatically "deducted" from it, meaning you'd have to cover that portion yourself.

Her damage, etc. is a non-issue.

File the claim. Pocket the $1,000 they'll give you. Sell the car.

 

[cmdubs]

your collision insurance pays for damages to your vehicle in an at-fault accident subject to a deductible

your liability insurance pays for property/bodily injury damages to third parties that you are legally entitled to pay

if you were at fault and you wanted to get your car fixed you would have to fork over the $1,000 deductible and the remaining $1,000 would be up to the insurance company or you could pocket the $$$

either way you'll probably end up paying for it in premiums