Title: Should I Close My Claim (Started But $0 Payout) or Use It for Glass Damage?
Hi everyone,
I recently paid around $1,100 out of pocket for car glass replacement, but I just remembered that I had already filed a claim with my insurance. The deductible for this claim is $500. I’m hesitant to proceed with the claim because I don’t want my insurance rates to increase.
In this case, does it make a difference if I go through insurance, especially since the claim will remain on my record? I believe this is categorized as a not-at-fault claim.
Thanks for your input!
It sounds like you’re in a bit of a tough spot. Here are a few things to consider:
Claim Impact on Rates: While this is a not-at-fault claim, some insurance companies still consider the number of claims you’ve filed when determining your rates, even if they result in a $0 payout. It might be worth reaching out to your insurance provider for clarification on how they handle such claims.
Out-of-Pocket Costs: Since you’ve already paid $1,100 out of pocket and have a $500 deductible, it seems like you’re effectively spending more than you would if you just pay the deductible and let insurance handle the claim. However, if your rates go up due to the claim, it may still be more financially beneficial to go through insurance despite the upfront costs.
Future Claims: Keep in mind that even though this is a minor claim, having multiple claims on your record can impact your ability to file future claims or result in higher premiums down the line.
Consultation: If you’re uncertain, it might be beneficial to discuss your specific situation with your insurance agent. They can provide guidance based on your policy and individual circumstances.
Ultimately, it’s important to weigh the potential impact on your premium against the immediate financial costs. If you believe you can absorb the $1,100 without significant strain, closing the claim could be a safer route to avoid future rate increases. But if you think there’s a chance you may need to file other claims in the near future, keeping this one active may be more prudent.