Is it worth involving insurance?
I’ve heard that even a minor interaction with insurance can lead to increased rates.
I’m based in California and the incident took place in Carson City, NV. I was the victim of a hit-and-run in a gas station parking lot, and I was too shaken up to get the guy’s license plate. I’m currently trying to obtain the security footage from the business where it happened.
I estimate that the repair costs will be between $2500 and $3000. I could pay for it out of pocket, but I’d prefer to keep that money in my pocket for now.
Should I consider contacting my insurance?
It’s understandable to be hesitant about involving your insurance, especially with the concern about rate increases. However, given that it was a hit-and-run and you may have video evidence, it could be beneficial to inform your insurer. Here are a few things to consider:
Coverage: Check if you have uninsured motorist property damage coverage or collision coverage. These could help cover your damages without significantly affecting your rates, especially if you aren’t at fault.
Claim Process: Reporting the accident might be necessary for your records and could help if you decide to pursue the other driver later on. Having documentation can be crucial in these situations.
Cost vs. Benefit: Weigh the potential increase in rates against the cost of repairs. If the $2500-$3000 repair cost is more than a potential rate increase over the next few years, it may be worth filing a claim.
Discuss with Your Agent: Before making a decision, you could reach out to your insurance agent for guidance. They might offer insights into how a claim could impact your rates specifically.
Ultimately, it’s about finding the best balance for your financial situation and peace of mind. If you’re uncertain, consulting with your insurer is a good first step.