I backed into a parked car and hit their bumper my paint smudged their car and they got a very high estimate of $600 which Is very high. I don’t have $600 and I want to know should I call my insurance company?
If you cannot pay for the $600 out of pocket, your only other resource is calling your insurance company. This would be considered an at-fault accident and will most likely raise your rates. As an average in 2016 in New Jersey, an at-fault accident (which this would be considered), raised rates by an average of $1,228. Now, most insurance companies will charge you for 3 years for most accidents or violations. So, that will stretch to over $3600 in addition to your premium. In the long run, it makes much more financial sense to pay for that $600 out of pocket.