Just keep the money they sent to be used for more worthwhile things.
Context:
1. Minor damage is from a slow speed accident in a grocery store parking lot. Not at fault.
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Reported to insurance promptly, they sent an adjuster and took pics. Sent them these two as well at the initial report. After a few days, a check came in the mail at the amount of $9XX.XX.
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Car is a 6MT 2009 Honda Fit Sport. 145K miles. Clear titled. Kind of a beater, peeling clear coat upfront and up top, though still cleans up nicely and is a 20 footer. No claims on personal record until this one for the last 14 years. Full C/C coverage on this car. Insurance confirmed I’m not at fault. Car drives fine and works 100% even after the incident. Plan to drive the thing to the ground or pass over to son when he starts driving.
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Haven’t taken the car to my local body shop, but I am debating about it as I’m not sure if it’s worth it. I’m sure they can probably “find” more related things to fix and ask for a supplement claim once the car is dismantled but then again, the rest will look beat up.
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Am fully aware and advised by insurance agent that if I don’t end up getting it fixed, the incident is still on record and I might not get paid if I make a claim on the same areas that got affected.
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My thoughts:
A. I’d really rather use the money elsewhere that will be more “life changing” than get the beater fixed.
B. Will this hurt me in the long run, insurance wise?
C. What are the pros/cons of me keeping the money? Anybody here been through the same?
I’ve posted this a few weeks ago but didn’t have pics and traction. I hope to get some more advice. Thank you all.
Is car worth having fixed by insurance or…
byu/jackofallmasterofzip infinancialindependence
Posted by jackofallmasterofzip
3 Comments
Not at fault and check in hand? Might as well see how much the dealer is going to charge to get it fixed and do a service at the same time! Also congrats on 145K!
You can pocket the Money. A former insurance told my Dad who use to run a body shop. That a large percentage of people take the money and never fix the vehicle. As long as everything is working you should be fine. Your car is 14 years old and it doesn’t bother. There’s nothing wrong keeping the money.
You can keep the money and not do the repair but you probably shouldn’t have made the claim. Your insurance premiums are likely to go up significantly and the cost of that will far outweigh the benefit of less than $1k.