Cheap Vehicle Quote, Filing a Car Insurance Claim may do More Harm than Good
Generally speaking people think the purpose of car insurance is to reimburse you if your car gets damaged. If your car sustains $1,500 worth of damage from a hail storm you expect to be paid that amount minus your comprehensive deductible. However, what if the damage is a door ding in a parking lot or a cracked windshield where the damage barely exceeds your deductible? In that case should you file a claim to have the damage repaired?
Using this example: Your windshield gets cracked by a rock driving down the highway. The cost to replace your windshield is $325 and your deductible is $250. If you file a claim with your insurance company, you will be required to pay the first $250 of the repair bill and the insurance company will pay the remaining $75.
When your insurance renewal comes in you notice your premiums for all your vehicles has taken a jump from the last policy term. That’s because on your new policy renewal, you probably a claims free discount, which could be up to 10% of the policy total. If you insure several vehicles with full coverage and have a teenage driver or two, that discount could amount to several hundred dollars every year.