Advice/options I was rear ended by another car and my insurance

by IFadmin

Advice Needed: I Was Rear-Ended and Dealing with Insurance

I’ve just had my first accident—someone rear-ended me, and they were clearly at fault. However, since it was just a minor fender bender, the officer said I didn’t need to file a report, which I now realize was a mistake. The other driver showed me an insurance card, so I thought everything was fine, but it turns out they didn’t actually have coverage.

I’ve opened a claim, expecting their insurance would pay for my repairs, but now I’m left with a damaged fender and an increase in my rates, even though I was not at fault. My wife mentioned that since we still owe money on our cars, we need to maintain full coverage, which I hadn’t heard before.

I have a couple of questions:
1. Is there anything I can do to prevent my insurance from raising my rates due to this unresolved claim (I’ve heard it could affect me for up to 5 years—why is that?!)?
2. Can I switch to basic coverage if the other driver’s insurance isn’t covering anything anyway?

Thanks for any advice!

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One thought on “Advice/options I was rear ended by another car and my insurance”

  1. I’m sorry to hear about your situation; that sounds really frustrating. Here’s a breakdown of your questions with some potential options:

    1. Rate Increase: Insurance companies typically raise rates after accidents, regardless of fault, as it can impact their risk assessment. However, you might be able to negotiate with your insurer. Here are some steps you can take:
    2. Contact your insurance company: Explain the situation and emphasize that the other driver was uninsured, and you were caught in a situation out of your control.
    3. Request accident forgiveness: If you have a good driving record, some insurers offer accident forgiveness programs that prevent your first accident from impacting your premiums.

    4. Shop around: If your current insurer is not willing to help, consider getting quotes from other companies. Some insurers might be more lenient with their rate increases for similar situations.

    5. Coverage Options: Regarding your wife’s point about full coverage:

    6. Lenders often require you to have full coverage (comprehensive and collision) on cars that you are financing. This protects their asset in case of damage.
    7. If your vehicle is paid off and you want to lower your rates, you can consider dropping to liability insurance, which is generally cheaper. However, be aware that if you’re covered under a finance agreement, this might not be an option.
    8. You could also explore adjusting your coverage levels or asking about different policy options that fit your needs and budget.

    It might also be a good idea to consult with an insurance agent or a legal expert to get more tailored advice based on your specific situation. Good luck!

    Reply

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