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Why should you not approach car insurer for fender-bender damages?

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The world that we live in today is moving fast. Every time you leave your house, you expose yourself to an accident waiting to happen. Most of the time, we escape these near encounters, and even if we do not, a lot of the accidents are merely painted scuffs and bumpers dents. These are minor accidents and getting your car insurance company involved by making a claim can be a bigger headache than the accident itself. Heres what you should.

The Pros of Getting Your Insurance Company Involved

In case of a minor accident, the primary benefit of getting your insurer involved is that they will be there for you if the other party decides to file a case against you. Even if it was a case of their car getting barely scraped, they might want to exploit the opportunity to bring home some money by faking an injury. Informing the insurance company on time can help you deal with the problem, and they will be able to offer sound advice to you.

Getting your insurance company involved also keeps you from having to pay out an amount more significant than your deductible for the other partys repairs. Having a minor accident with an expensive luxury car can be a costly affair and sometimes, you need to pay for the repairs.

The Cons of Getting Your Insurance Company Involved

The first downside of involving your insurer in a minor accident is that your insurance premium is likely to rise the next time you renew your vehicle insurance. Some insurance companies may immediately increase your premiums. Hence, it is essential that you read the policy document carefully while purchasing car insurance online.

You may have a clean record and might even be receiving accident-free or safe-driving discounts with your insurer and getting them involved in a minor accident would most certainly mean you are losing that status. In that event, you may end up paying far more in the long run than just paying for the damages incurred to the other party, so be mindful of that.

Moreover, if you keep reporting every minor accident that takes place, they are likely to move you to a higher risk category. This can affect everything from your premium rates to the types of coverage you can buy.

Always Check with the Other Driver in Case of a Minor Accident

If you happen to be in an accident and you know that none but you are at fault, the best way to get out of the ditch is checking with the other driver. Most people would like to avoid getting the insurance companies involved as itd too much of a headache. If you go up to them, accept your mistake and offer to pay for the damages incurred, they are likely to respond positively and settle.

However, you need to act smart with this approach. We live in a lawsuit happy society, and hence, you should avoid giving out too much information. Giving your name and contact number should be enough. Dont hesitate to give them further details if need be.

Do a Cost versus Benefit Analysis

You should think about what your tolerance limit is in case of small accidents. Can you afford to pay Rs 10,000 for the other party repairs or can you only afford to pay Rs 1000? If you have an idea about your tolerance limit, it would be easy to deal with the situation in a flash.

Remember that you will have to pay any deductibles that your car insurance has if you get the car insurer involved. So, calculate cost and benefits before deciding.

Does your Insurance Company Allow for Minor Accidents?

Finally, find out if your insurance company allows for fender-benders without affecting your premiums or any rate deductions that you may have availed. Your insurance company might allow for one small accident every few years without impacting your insurance. Find it out before such a situation arrives as it can be tricky asking these questions at the time of making a claim.

There is no point taking the long path for a minor incident. You can personally take care of the expenses if it is lower than your insurance premium. This way you can stay away from the tedious paperwork and claim process for such minor accidents. Apart from the minor accidents, you get several benefits with a car insurance online. You can take help of online car insurance calculator and know what you need to pay to gain the benefits.

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