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Started By
Message
re: Car insurance question
Posted on 10/19/23 at 9:49 am to riverdiver
Posted on 10/19/23 at 9:49 am to riverdiver
quote:
My experience, if you rear end someone you’re typically considered at fault.
I believe that to be the case as well.
0
Posted on 10/19/23 at 9:55 am to meansonny
quote:
Percentage increases don't tell us anything if you don't share your current insurance premiums.
$227.33/month
This post was edited on 10/19/23 at 9:56 am
Posted on 10/19/23 at 9:56 am to TDTOM
Any other tickets or accidents in the last 5 years?
Who is your insurance company?
Who is your insurance company?
Posted on 10/19/23 at 9:57 am to meansonny
quote:
Any other tickets or accidents in the last 5 years?
Who is your insurance company?
No.
Progressive
Posted on 10/19/23 at 10:03 am to TDTOM
quote:
Video?
If there are no injuries and no other vehicles, no one is going to ask any private businesses for video of this incident.
Posted on 10/19/23 at 10:04 am to SG_Geaux
quote:
If you can afford to pay out of pocket then pay out of pocket
This. What you might pay to fix vehicle is nothing compared to the increase in premium for 3 years. Cost me about $5000 over 3 years vs about $2500 to just pay for repairs.
Posted on 10/19/23 at 10:05 am to TheSadvocate
The repair shop will allegedly sell the damage data to carfax which will/could raise insurance company questions to be prepared for, down the road.
That’s how they make side $$$$, I was told.
That’s how they make side $$$$, I was told.
This post was edited on 10/19/23 at 10:08 am
Posted on 10/19/23 at 10:06 am to TheSadvocate
City camera at the intersection. I just got off the phone with the police department and they are going to try and find the video. I want to see it. You know women always tell the whole story, right?
Posted on 10/19/23 at 10:08 am to TDTOM
Everything is state and zip code specific.
You may even have claims forgiveness depending on how long you've been with Progressive.
As for car rates in general:
You could get a 10-20% increase with no accidents (out of the blue).
Losses/inflation are/is that bad for insurance companies.
I'd guess that you would see a 20% increase for 3 years. Additional increase for 2 more.
You payback about $550 a year for 3 years. Maybe $300 a year for 2 more.
Round numbers up because the base rate (with no accidents) is likely to be going up anyway.
One big drawback is that you get stuck with Progressive. Shopping for new rates are typically 50% worse after an accident like that. And that could last anywhere from 3 to 6 years depending upon an who is underwriting.
Do you have any teenagers?
Any need to add cars in the future?
That 20% increase would be against a higher number if your vehicle/driver situation changes.
If your situation is stagnant (not moving residences. Not changing vehicles/adding vehicles. Not adding drivers), I would probably file the claim.
$2500+ in pocket today is worth paying $2500 extra over the course of the next 5 years.
The other "catch" would be following this up with a ticket or 2nd accident. But that's another set of worries.
You may even have claims forgiveness depending on how long you've been with Progressive.
As for car rates in general:
You could get a 10-20% increase with no accidents (out of the blue).
Losses/inflation are/is that bad for insurance companies.
I'd guess that you would see a 20% increase for 3 years. Additional increase for 2 more.
You payback about $550 a year for 3 years. Maybe $300 a year for 2 more.
Round numbers up because the base rate (with no accidents) is likely to be going up anyway.
One big drawback is that you get stuck with Progressive. Shopping for new rates are typically 50% worse after an accident like that. And that could last anywhere from 3 to 6 years depending upon an who is underwriting.
Do you have any teenagers?
Any need to add cars in the future?
That 20% increase would be against a higher number if your vehicle/driver situation changes.
If your situation is stagnant (not moving residences. Not changing vehicles/adding vehicles. Not adding drivers), I would probably file the claim.
$2500+ in pocket today is worth paying $2500 extra over the course of the next 5 years.
The other "catch" would be following this up with a ticket or 2nd accident. But that's another set of worries.
Posted on 10/19/23 at 10:08 am to TDTOM
quote:
My wife ran into someone the other day. The person she hit left the scene. The cops said they could do a report, but she would be at fault. Here is my question. How much should I expect my premium to increase in two months when it renews?
if she didnt file a report then there is no issue.
if they left she shouldnt have let them do a report.
if you did a report you are SOL and they could double your bill or even drop your coverage, all depends on how much damage there was
Posted on 10/19/23 at 10:09 am to TDTOM
quote:
City camera at the intersection. I just got off the phone with the police department and they are going to try and find the video.
Unless this is a small town, the police department was probably just giving you lip service. The police don’t even have access to traffic cams. They have to get it from whatever city agency handles traffic.
Posted on 10/19/23 at 10:13 am to meansonny
quote:
Do you have any teenagers?
Any need to add cars in the future?
That is my worry. I will add my daughter in a year. I am pretty sure I will just pay out of pocket.
Posted on 10/19/23 at 10:16 am to BigBinBR
quote:
Unless this is a small town, the police department was probably just giving you lip service. The police don’t even have access to traffic cams. They have to get it from whatever city agency handles traffic.
Lafayette. Two officers tried to access the footage from their car, but that area is notoriously bad for wifi connection and they could not do it.
This post was edited on 10/19/23 at 10:17 am
Posted on 10/19/23 at 10:25 am to TDTOM
I'd probably ballpark it closer to 50% increase. And Progressive in LA rates 5 years on accidents.
If you decide to pay out of pocket, I'd probably ask the shop to remove the bumper but if they find any additional damage, give you an estimate but don't move forward with any work. That way if the updated estimate is more than you're willing to pay, you can file the claim with Progressive before any actual repairs get started so the adjuster can see everything.
If you decide to pay out of pocket, I'd probably ask the shop to remove the bumper but if they find any additional damage, give you an estimate but don't move forward with any work. That way if the updated estimate is more than you're willing to pay, you can file the claim with Progressive before any actual repairs get started so the adjuster can see everything.
Posted on 10/19/23 at 10:26 am to TDTOM
Yup.
Good plan
Good plan
Posted on 10/19/23 at 10:28 am to TDTOM
Anyone who pays more to an insurance company than they are required to needs to lower their policy to the bare minimum immediately. Biggest racket in America.
Posted on 10/19/23 at 10:32 am to TDTOM
The math changes depending upon what your current premium is.
Your $2700/yr is very different than $4000/yr or God forbid $5500/yr.
Some people are still paying $600/yr full coverage. Others are hovering around $7k+/yr with teen drivers. $10k/yr if they keep luxury vehicles with those teen drivers.
The surcharge for a singular accident without claims forgiveness typically runs 10-20%. There may be additional increases for loss of discounts (accident free,defensive driver, etc..)
Every company is different.
Every zip code is different.
But the numbers above are probably according to the law of averages.
Your $2700/yr is very different than $4000/yr or God forbid $5500/yr.
Some people are still paying $600/yr full coverage. Others are hovering around $7k+/yr with teen drivers. $10k/yr if they keep luxury vehicles with those teen drivers.
The surcharge for a singular accident without claims forgiveness typically runs 10-20%. There may be additional increases for loss of discounts (accident free,defensive driver, etc..)
Every company is different.
Every zip code is different.
But the numbers above are probably according to the law of averages.
Posted on 10/19/23 at 10:33 am to BabyTac
quote:
BabyTac
Checks out.
Posted on 10/19/23 at 10:36 am to BabyTac
quote:Holy shite
Anyone who pays more to an insurance company than they are required to needs to lower their policy to the bare minimum immediately
Posted on 10/19/23 at 10:40 am to AlxTgr
LPD just called me back and confirmed my wife's story that he did just randomly stop at a green light while she was trying to merge. I am not sure if this makes a difference in any of this.
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