Auto Accident – Other Party Admitted Fault: Should I Use My Insurance or Theirs?
I was involved in a car accident where the other party has accepted full liability (no dispute on this). Since my deductible is being waived, does it make a difference if I file a claim through my own insurance or theirs? I’m particularly concerned about whether this choice will impact my future insurance premiums.
In your situation, since the other party’s insurance has already claimed full liability and your deductible is being waived, you have a couple of options to consider.
Going Through Their Insurance: Since the other party’s insurance is fully responsible, going through them might streamline the process of getting your vehicle repaired and cover any other damages. This way, you may avoid any potential complications or delays that could come with dealing with multiple insurers. Since they’re accepting liability, you shouldn’t face any out-of-pocket costs.
Going Through Your Insurance: While you can choose to go through your own insurance, since they have waived the deductible, it’s likely that your rates won’t be affected. However, some insurers might still consider this an at-fault accident when assessing future premiums, particularly if you file a claim.
Considerations:
– Communication: Check with your insurance agent about how filing a claim might impact your rates. They can provide specific insights based on your coverage and history.
– Claims Process: If you want a faster resolution, going through the other party’s insurance might be the way to go, especially since they accept liability.
– Long-Term Effects: If you’re concerned about potential premium increases, keep in mind that some insurance companies have policies in place to prevent rate hikes if you’re not at fault.
Ultimately, it’s a personal choice based on your preferences for speed, convenience, and potential future costs. Consider reaching out to both insurance companies to discuss your options and any implications for your policy.