Title: Small No-Fault Car Accident with My New Vehicle—Should I File a Claim?
Hi everyone,
I recently experienced a minor accident with my brand new car. Last week, while I was stopped at a stop sign, a woman lost control on an icy road and slid into the back of my 2025 Chevy Traverse RS, which I just purchased three weeks ago for $70,000 CAD. The damage to my vehicle is a noticeable paint scuff on the bumper and a small mark on the tailgate. I’ve received a couple of repair quotes, and it looks like it will cost around $2,000 to fix.
I’m hesitant to file an insurance claim, as I don’t want this accident to show up on the car’s title or Carfax. The other driver, who was in a 2023 Hyundai Kona, suffered more significant damage, with repair estimates around $5,000, and plans to go through her insurance for that.
Here’s my dilemma:
Should I file a claim, knowing it could potentially decrease the resale value of my car? Or would it be better to pay the repair costs out of pocket and be done with it?
Also, if she’s going through insurance, will this accident still be reported on my vehicle’s history, regardless of whether I claim it?
I appreciate any advice, experiences, or insights you might have on this issue. I’ve been losing sleep over it, and I could really use your help. Thanks!
It sounds like a frustrating situation to be in, especially with a brand new vehicle. Here are some things to consider when making your decision:
Impact on Insurance Premiums: If you file a claim, it’s possible that your insurance premiums could increase, especially since it’s a no-fault accident. You should check with your insurance provider to see how a claim could affect your rates.
Claim Reporting: Even if you choose not to file a claim, her insurance may still report the accident, especially if they had to assess damages to her vehicle. However, that may not necessarily show up on your Carfax unless there are significant repairs reported for your car.
Out-of-Pocket Costs vs. Long-Term Value: By paying for the repairs yourself, you’ll maintain a clean accident history for resale, but you’ll be paying $2,000 out of pocket. Weigh this against potential higher insurance premiums if you claim and whether you plan to keep the vehicle long-term or will sell it soon.
Assessing the Damage: Make sure that the quotes you’ve received cover all potential issues. Sometimes what seems like a minor scuff can lead to more extensive damage that isn’t visible at first.
Legal Considerations: Ensure there are no other ongoing discussions with the other party or their insurance, as sometimes files can change as more information comes in.
If maintaining the resale value is a significant concern for you and you can comfortably afford to pay the repair costs out of pocket without financial strain, it may be worth considering going that route. However, it might also be helpful to speak to your insurance agent for personalized advice based on your policy and situation. Ultimately, you need to choose the option that gives you the biggest peace of mind.