Should I Always Report Accidents to Car Insurance Company?

It may not always be necessary to report every accident you have to your car insurance company. There may be times where it could be more beneficial to pay for any repairs out of pocket and leave the car insurance company out of it, as auto claims may cause your car insurance premium to increase.

How Do I Decide When to Report an Accident to the Car Insurance Company?

In the event of an accident, you may want to make sure to call the police so that you could get all of the information down on an official record. Once you might have the police report, shop around for quotes from auto repair shops. Review the policy and coverage details from the company. Take note of deductibles and out-of–pocket expenses. If the deductible amount might be more than the repair cost, you may want to avoid filing any auto claims with your car insurance company. Also, if repairs might cost more than the value of your car, you may choose to skip filing any auto claims. For more information, please see the article “How Auto Insurance Works“.

However, if the cost of the repairs might be significantly higher than the deductible, then you may want to contact your car insurance company and file any necessary auto claims.

If the accident might involve other vehicles, then you may need to contact your car insurance company no matter what, because there could be no way of knowing how the other victims in an accident might react to the situation. Your car insurance company may be able to help protect you in this situation.

You might want to weigh the benefits of reporting an accident over not reporting it. More information about insurance costs and options may be available at Cost of Car Insurance.

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