Motor Insurance Claims
Should I make a auto insurance claim?
I just recently got into a car accident. I ran into one of my neighbors Tow truck. It was the kind of Tow truck that has the long bed. The front middle to passenger side of my civic is completely dented in and destroyed. There is no motor/mechanical damage. Only body damage.The damage is pretty bad. I do have some knowledge with cars and I definitely know that the cost of repairing the car will be more than the actual value of the car. Its a 98 Civic Ex with about 131,000 miles and in good condition. My question is whether I should file a claim through insurance or not? If I do file through the insurance, I would most likely get a big fat check in the amount of $2,000 to $5000 based on the fact that they will say its totaled, but that would most likely raise my insurance when I renew it. I could use this money to buy another car. Or I could just not report it and buy another car. But that would mean I would send my car to the junk yard for and get very little money for it. HELP!
Don’t forget about your deductible. What is it? $500? $1000?
That comes off first. So, if you think you will only get $2000 for the car minus the deductible, it may not be worth the increase in your premiums that you will pay over the next few years.
I agree that you want to get your money’s worth out of your insurance policy, but if you end up paying more than you get in the long run you fall behind. Something to think about.
Iowa Car Accident Claims: What Insurance Corporations Don’t Want You to Know
|
|
Insurance for Dummies $0.97 Insurance For Dummies introduces readers to the basics — as well as the more complicated issues — of every kind of insurance. Packed with expert advice and step-by-step guidance, it shows you how to find the right amount of protection at the best possible price, for your life, health, car, home, and anything else you can think of.Thinking about insurance makes many people cringe with fear; thi… |
|
|
Generalized Linear Models for Insurance Data (International Series on Actuarial Science) $58.57 This is the only book actuaries need to understand generalized linear models (GLMs) for insurance applications. GLMs are used in the insurance industry to support critical decisions. Until now, no text has introduced GLMs in this context or addressed the problems specific to insurance data. Using insurance data sets, this practical, rigorous book treats GLMs, covers all standard exponential family… |
|
|
Actuarial Modelling of Claim Counts: Risk Classification, Credibility and Bonus-Malus Systems $89.99 There are a wide range of variables for actuaries to consider when calculating a motorist’s insurance premium, such as age, gender and type of vehicle. Further to these factors, motorists’ rates are subject to experience rating systems, including credibility mechanisms and Bonus Malus systems (BMSs).Actuarial Modelling of Claim Counts presents a comprehensive treatment of the various experienc… |
Mail this post
Accident News