I got into a fender bender last Wednesday. I'm at fault for it and I admitted that by apologizing over the text which was a dumb move. Police report has not been made as nobody was injured at all and it looked like such a minor accident at first. The lady I hit, and I exchanged each other's number and the lady has my insurance info, but I don't have hers. The lady did not take a picture of my car, and I didn't take a pic of her car either. She sent me the estimate to repair her car, a 2021 toyota van which was $4500 ($2200 ish for replacing a rear sliding door + $2300 ish for the labor). I asked if I could pay her out of pocket, and she said she'd be fine with that, and she wants me to pay directly to the body shop with a certified check. She is also willing to sign the release of liability form.
Since the estimate is high, using insurance would be smart even with a premium increase (I'm 24 and I've been paying $550 per 6 month but I guess it will increase to like $700; I have no accident on my record right now and have no tickets or anything either). However, I'm doing the statefarm multi-car family bundle type thing with my aunt and uncle, and I really hate to have their premium increase because it will cause a lot of family drama like A LOT. I guess if I remove myself from it and get a separate policy myself, then it wouldn't affect them anymore, as it is mentioned on the policy (they would just have a little increase because they won't have the multi car discount anymore). The thing is i don't know if i can remove myself anytime soon because i won't be moving out of their house until after this summer so i can't provide the evidence that i am not living with them anymore. By the way, If i wanted to let my insurance company know and get help from them i probably could because their car repair has not been initiated.
The lady I hit is most definitely not going to come to sue me or file a claim in the future. She has been very nice and cooperative about it. I know i shouldn't trust anybody but I really don't think she will. If the repair cost ends at $4500, i'm fine paying out of pocket but what if it increases significantly from that? It really was a fender bender so everybody doubts that there will be more internal damage. I also am not quite sure if she will have to rent a car and makes me pay or not. She's only mentioned about me paying the repair cost directly to the body shop with a certified check. What do you guys think i should do? I really would appreciate any advice.
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Should I go out of pocket or insurance for $4500?
byu/Double-Path-1425 inInsurance
Posted by Double-Path-1425
2 Comments
What State and Insurance Company?
I know someone with an at fault collision of $10,000 or so of damage and his rates went up around $100 a month. This will be on his record for three years so about $4,000 increase in insurance over 3 years or $10,000 out of pocket now.
That 4500 is very likely to increase once they start work and find hidden damage. You’d also owe for a rental during repairs which could be several hundred additional. No one knows how much a claim would affect your rates.