Car insurance is a funny thing. You pay a little wealth to get it and keep it. Then, if you have the screaming boldness to file a claim, the company either increases your premiums, or completely cancels you. Well, this may be a little extreme, but you understand my opinion.
While the world of insurance can sometimes be so confusing that it gets angry, it is gone without a basic car cover is simply not an option. The financial risk is just too big. But there are some things you can do to make sure you don’t stand out the company as an intolerable risk.
You must file a car insurance claim if:
There are injuries, even insignificant. It is important to report on your insurer’s incident to ensure that your coverage is being applied by preventing unexpected accounts and protecting you from potential lawsuits from injured drivers.
Another driver participates. Contact your insurance company whenever you are in a crash with another driver, especially when the error is not clear. Considering the incident of your insurer helps to make sure that the guilt is assigned fairly and prevents you from excessive responsibility.
There are damage to vehicles or property. The insurance is there to help you with the costs when things get damaged, so you don’t have to pay a large lump sum. That’s why you pay monthly premiums – so you don’t have to branch a lot of money if your car needs repair.
You should not file a car insurance claim if:
You are the only person involved. Not the file. If the incident is your fault and does not include injuries, you do not tell your insurance company to help you protect your premium. Your country may require accidents related to property damage over a certain amount in a dollar to be reported to its motor vehicle department. Of course, you have to do this if you have crossed the dust threshold. But if the damage is less than, say, $ 1,000 and you can swing it, paying from your pocket will be more cheaper than to face increased premiums for years to come.
Only a small amount of damage. Even if you have a collision of a collision in your car insurance, you may decide not to file a claim if your car has only minor damage. If your deduction is higher than the cost of repair, you will end up paying for it and this can cause your monthly premium to rise. For example, if you scrape your car in a parking garage and your deduction is $ 500, while the repairs are only $ 450, you will have to pay the full amount and any claims you make will affect your record.
Here are some additional factors that could lead to an increase in premium if you want to file a claim:
If it is your fault. If you are accused of the accident, your insurance rates may increase because the insurance company sees you as a higher risk of claiming claims.
If your claim is for high damage or major medical expenses. If you make the insurance company pay a lot, they will raise your rates to compensate.
If you make a number of claims for a short period of time. Just like when you file an expensive claim, making multiple claims can cause your future insurance costs to increase. The history of your claims, which is like your insurance card, has been sticking to you for at least three years, even if you move on to another insurance company.
If yours is a condition without guilt. In a fault, any incident can cost the insurance company, which means that it can raise your prices if you claim a claim, even if it is not your fault. These 12 plus Puerto Rico are states without guilt: Florida, Michigan, New York, New Jersey, Pennsylvania, Hawaii, Kansas, Kentucky, Massachusetts, Minnesota, North Dakota and Utah.
Last thing: driving without insurance may seem like a way to avoid higher premiums, but this is not a good idea. If you get caught or cause an accident, it can cost you $ 5,000 or more. If your monthly insurance costs are too high, consider getting offers from different companies to see if you have better opportunities.
Mary invites you to visit it at Dailycheapskate.com, where this column is archived complete with connections and resources for all recommended products and services. Mary invites questions and comments to https://www.everydaycheapskate.com/contact/, “Ask Mary”. This column will answer questions of common interest, but the letters cannot be answered individually. Mary Hunt is the founder of every Dailycheapskate.com, a blog for Frugal Living and the author of the book “Life-Precise Debt”.
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