smart65

Insurance Question

6 posts in this topic

Insured with The Personal under a group plan for over 20 years with no claims. My wife miscalculated when exiting a parking spot in a mall. The CX-5 hit a tall curb, damaging the right rocker panel and twisting the passenger door. We have gotten 2 estimates, and it looks like the cost to do a proper repair will be in the $2500 range. I filed a claim, but one of the estimators said we'd probably be better off paying out-of-pocket. I don't think that our insurance rate would change enough to make going through with claim uneconomic.

Opinions please!

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Looked at The Personal's webpage. There is a note about Accident-Free Protection, your premium won't increase due to your first at fault accident. If you have it technically your rates won't go up. Granted the insurance companies are sneaky with raising rates so they might just fold it into your next bill. But you've already called so I would just go ahead and get it done through insurance. 

 

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Any reputable body shop should be able to replace (and paint, if needed) the entire door and straighten out the rocker panel for a lot less than $2,500.  Getting a door from an auto salvage facility rather than getting a new one could also cut down the costs, but if you are going through the insurance company, I would opt for a new one.

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Our policy includes the so-called "worry free" option, but not the option that precludes a premium increase due to the first at fault accident, so the question would have to be "what could I expect that increase to be?". If, over time, the increased premium would total less than the cost of the repair, minus the $500 deductible, claiming the repair would make fiscal sense. Unfortunately, I have already opened a claim, and have been told that even if I don't proceed with it, it will still remain on the record as a claim against my policy.

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If it precludes a premium increase at the first claim, and this is the first claim, there is no cost.

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I would go ahead and put it through insurance, and if they try to raise your rates, shop around for a new insurance company.  If you have a clean history up until now, most insurance companies would jump at the opportunity to sign you on because statistically you are unlikely to have another incident.

 

I would recommend TD insurance for both car and motorcycle.  No other insurance company so far has been able to touch their rates for me.

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