The good thing about having full coverage collision insurance is that you can file a claim for damages to your car even if you caused the damages to it. This is one of the top reasons people choose to carry collision insurance on their vehicles, but there are times when filing a claim might not make a lot of sense when you have damage to your car. Here are several things you should know about this.
Find out the costs for the repairs first
There are times when there is a great deal of damage to a vehicle after an accident occurs, and if this is the case with your accident, it is likely that filing a claim would be the best option. If you did not file a claim and have severe damage to your car, you would be stuck paying the entire bill out of your pocket.
There are also times when damage is not as severe, and in cases like this, it might not cost a lot to get the repairs completed that your car needs. If your car does not appear to be damaged severely, it might be wise to get an estimate for repairs before you file a claim on your auto insurance policy.
Compare your deductible to the cost of the repairs
If you get an estimate for the repairs and find out they are not that costly, you may want to pay for the repairs yourself and not file a claim. A good way to determine if this is the best option is by comparing the costs for the repairs to your deductible. If the repairs are higher than the deductible, filing a claim could be beneficial. If the repairs are less than your deductible, you would be responsible to pay the full bill if you filed a claim or did not file a claim.
Analyze the risks and results of filing a claim
There are times when people are not sure whether to file a claim or not, and if this is the case, you may want to analyze the risks and results of filing a claim versus those of if you chose not to file the claim. If you feel that your insurance bill would increase a lot if you filed a claim, you might be better off paying for the repairs yourself rather than taking this risk.
If you evaluate these three things, you will probably find the answer to your question. If you have questions still, contact a car insurance agent today.
