Would A $600 Property Damage Claim Raise My Car Insurance Rates?

1. 

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   Samuel Smith

   Enrolled Agent-licensed to practice before the IRS, Samuel N Smith, EA, South Carolina

   Was the acident your fault? How long have you been insured with the carrier? Are you currently receiving a "good driver discount"? Are you getting a "refund" from the company each year for "claim free driving"? Are you better off "swallowing" this bill and not file a claim?
   Some of the companies allow the first claim and not charge it to your record. It is not easy to answer your question because every company is different.

   Answered on November 30, 2013

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2. 

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   Tom Sheehan

   Agency Owner, The Thomas G Sheehan Agency, 27 Glen Road Sandy Hook, CT 06482

   Talk to your Insurance Professional about the specific terms and conditions of your policy. As my colleage said, each company is different and thus handles at fault losses differently. If your company includes a "first accident forgiveness" benefit in your policy, then you would not be surcharged. Some companies may not surcharge for the accident per se, but if you are receiving a discount for being accident free for a number of years, that discount may be removed at which point you would see an effective rate increase on your bill. Your state law may also be a factor in that in many cases, a certain minimum amount of loss must be met before a company may surcharge. If you are in a state where that minimum is $1,000, then on a $600 loss, they would not surcharge.

   Answered on September 23, 2015

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