Scraped my car against a wall months ago. Doors function, but it looks really bad. I saved up, but just found out my estimate is $4k. My insurance is so high already – should I move forward with a claim (and can I, even though it’s been months) and just pay the $1k deductible or should I move forward with only some repairs and have an ugly car for a little bit?
Question
Should I pay out of pocket for my damage to my car from months ago?
Agent Answer
What you should consider is how much your premium will increase after your file a claim versus what the cost of repairs are out of pocket. In Florida in 2017, an at-fault accident increased premium by about 38%. Now, most insurance companies will charge you for most at-fault claims for 3 years. Meaning, that 38% will hit you for 3 years. Consider if the 3 years increase plus your $1,000 deductible is greater or less than the $4,000 damages.