Subject: Small No-Fault Car Accident—Should I File a Claim?
Last week, while I was stopped at a stop sign, a woman slid into the back of my brand-new 2025 Chevy Traverse RS, which I had purchased just three weeks ago for $70,000 CAD. The road was icy, and despite her efforts to stop, she collided with my car, causing a noticeable paint scuff on the bumper and a minor mark on the tailgate. I’ve gathered a couple of repair quotes, and the total cost to fix the damage is around $2,000.
I’m really hesitant about making an insurance claim, as I’m concerned it would affect my car’s resale value and show up on its title and Carfax report. Meanwhile, the damage to her vehicle, a 2023 Hyundai Kona, is more severe, and she will be going through her insurance for a $5,000 repair.
Here’s my dilemma:
Should I file an insurance claim, risking a decrease in the car’s resale value? Or should I just pay the $2,000 out of pocket and avoid the claim?
Also, if she files through insurance, will this accident automatically be reported on the title or Carfax, regardless of whether I decide to file a claim?
I’d really appreciate any opinions, experiences, or insights on this situation, as I’ve been losing sleep over it. Thank you!
I can understand why this situation is causing you stress. Here are some things to consider when deciding whether to file a claim or pay out of pocket:
Cost of Repairs vs. Deductible: If your deductible is higher than the repair cost ($2,000), it may not make sense to file a claim. Check your policy and see if you’d end up paying more out of pocket due to the deductible and potential premium increase.
Impact on Insurance Premiums: Filing a claim can potentially raise your insurance premiums, especially if you have a history of claims. Even though this was not your fault, some insurers may still adjust rates based on the fact that a claim was made.
Carfax/Title Report: If the other driver files a claim, it may show up on Carfax regardless of whether you file a claim or not. Insurance companies share information, and if the accident is reported, it may reflect on your record as well. However, not every minor incident leads to a report; it often depends on the insurance companies involved.
Long-Term Value: If keeping your vehicle’s resale value intact is a priority for you, paying for the repairs out of pocket might be worth it to avoid any dent in your vehicle’s history.
Future Considerations: Think about how you might feel if the damage worsens over time or if you discover hidden damages later. If you’re paying for repairs, ensure they are done by a reputable shop to maintain quality and give yourself peace of mind.
Ultimately, if you feel comfortable with the out-of-pocket repair cost and believe it won’t pose a financial strain, that might be the best route. However, if you have any reservations about the repairs or if your insurance rates are likely to rise significantly with a claim, it may be worth considering the claim route. Whatever you decide, ensure you document everything, handle communication with the other driver carefully, and prioritize your peace of mind in the decision.