What's new
Fantasy Football - Footballguys Forums

Welcome to Our Forums. Once you've registered and logged in, you're primed to talk football, among other topics, with the sharpest and most experienced fantasy players on the internet.

Insurance Guys - Need Advice (1 Viewer)

tkrull

tkrull

Footballguy
Teenage daughter's vehicle was struck in an icy high school parking lot.  Minor bumper damage.  May not be worth repairing (10+ year old minivan).  She was not present.  Other party reported the accident to the police and an accident report has been filed.

Just received a call from the other driver's mother.  She wanted to know if we had repair estimates.  Expressed interest in paying for the repair without involving insurance.  I told her to email her contact information and I'd get back to her.

What should I do here?  A quick internet search was unanimous that I should report to my insurance.  Is that the shark move?

 
If it were me, I'd get a few estimates and then have the mom write me a check for 50% of the average cost. Then I'd pocket the money and not get the bumper repaired. No need to gouge the other family.

I don't think I'd turn it into insurance. Too much risk that your daughter's rate could end up increasing if she ends up making additional claims in the future (and gets labeled as a problem child).

 
tkrull said:
Teenage daughter's vehicle was struck in an icy high school parking lot.  Minor bumper damage.  May not be worth repairing (10+ year old minivan).  She was not present.  Other party reported the accident to the police and an accident report has been filed.

Just received a call from the other driver's mother.  She wanted to know if we had repair estimates.  Expressed interest in paying for the repair without involving insurance.  I told her to email her contact information and I'd get back to her.

What should I do here?  A quick internet search was unanimous that I should report to my insurance.  Is that the shark move?
Click to expand...
You don't have to be a shark.  Sometimes it's nice to be a dolphin.  For minor damage and if the mom seems OK, I'd let her pay.  

 
Joe Summer said:
If it were me, I'd get a few estimates and then have the mom write me a check for 50% of the average cost. Then I'd pocket the money and not get the bumper repaired. No need to gouge the other family.

I don't think I'd turn it into insurance. Too much risk that your daughter's rate could end up increasing if she ends up making additional claims in the future (and gets labeled as a problem child).
Click to expand...
this

 
NOT an insurance guy. But I don't see the upside on getting insurance involved. I just switched insurance and I am paying $120 more a year than I would have otherwise just because a stupid deer ran into the side of my car as we were driving.

The only thing I hesitate on is the police report already. Not sure if there are ramifications to your policy for not reporting to them.

I would be willing to work with the other party in any way I could though- I mean, they could have tried to hide it and not report it or anything. I give them kudos for trying to do the right thing.

 
tkrull said:
Teenage daughter's vehicle was struck in an icy high school parking lot.  Minor bumper damage.  May not be worth repairing (10+ year old minivan).  She was not present.  Other party reported the accident to the police and an accident report has been filed.

Just received a call from the other driver's mother.  She wanted to know if we had repair estimates.  Expressed interest in paying for the repair without involving insurance.  I told her to email her contact information and I'd get back to her.

What should I do here?  A quick internet search was unanimous that I should report to my insurance.  Is that the shark move?
Click to expand...
:useless:

 
If it's minor and you're not going to repair, then why would you take any money?  If it's minor and you're going to repair, then get a few estimates and if it's nothing terrible, let her pay on her own.  No reason to involve insurance at this point. 

 
Chadstroma said:
The only thing I hesitate on is the police report already. Not sure if there are ramifications to your policy for not reporting to them.
Click to expand...
This is the part that is giving me pause.  If the police know surely the insurance companies have been notified.  When the police officer dropped by my house that evening to verify the accident, he asked who was my insurance company.

I give credit to the kid/family for taking responsibility.  Would have been easy enough to walk away.  I'm not looking to gouge them, I just don't want my insurance to go up for something that wasn't my daughter's fault.

 
No need to involve the insurance company. It will negatively affect their premiums. Take the money. It will go toward repairs or the reduction in the value of the vehicle.

 
tkrull said:
This is the part that is giving me pause.  If the police know surely the insurance companies have been notified.  When the police officer dropped by my house that evening to verify the accident, he asked who was my insurance company.

I give credit to the kid/family for taking responsibility.  Would have been easy enough to walk away.  I'm not looking to gouge them, I just don't want my insurance to go up for something that wasn't my daughter's fault.
Click to expand...
Police don't notify the insurance companies. That's ridiculous

 
Lots of misinformation in this thread.

1. Since it was someone else's fault and they admitted fault the claim would be with the other persons insurance.

2. Since the other person is at 100% fault it would have zero impact on his premium.

3. If you did go through insurance The other persons insurance would foot the entire bill for you. You would pay no deductible.

4. The police do not notify the insurance companies.

5. Your insurance company couldn't care less if the other person pays you cash. 

6. The other persons premium will go up and that's why she is asking to go outside insurance. 

 
For gods sake people.  She is offering to pay for the damage, why in the hell would you want to get insurance involved if someone is offering to pay for the damages they caused.

Just get a damn estimate and let her pay you, then you decide whether to repair or not.  

 
I'm not a personal lines insurance guy, but for commercial lines there's typically terms and conditions in your policy to report every and any accident to the carrier. I believe this is for their actuarial data, and would not effect your premium.
However, in your case, it's far easier to not involve your insurance company. Especially if the estimates are below your deductible anyway and the other driver has admitted to fault.

 
Last edited by a moderator:
flranger said:
For gods sake people.  She is offering to pay for the damage, why in the hell would you want to get insurance involved if someone is offering to pay for the damages they caused.

Just get a damn estimate and let her pay you, then you decide whether to repair or not.  
Click to expand...
Similar situation with my daughters vehicle in the school parking lot. 

Just because they "claim" to have insurance, doesn't mean they have it.  Police report filed, and they supposedly had insurance through Progressive.  Spoke to the mother and they were cool with it and provide them estimates.  Turns out they didn't like the estimates and then went radio silent. 

So, tried contacting their insurance company, only to find out they had no insurance.  Then called my insurance company and of course could have gone that route paying the $500 deductible and then having a claim against my insurance company. 

Went the small claims route.  Only to be awarded judgement and seeing ZERO money. 

It happened in the school parking lot, private property.  Contacted police and they couldn't/wouldn't even issue a citation for not having insurance since it was private property. 

Lesson learned, just bit the bullet and didn't file the claim through my insurance company, as didn't want a claim for a teenage driver who wasn't even in the vehicle when accident occurred.  Kid just drives a vehicle that has some minor damage.  Live with it. 

 
shadyridr said:
Lots of misinformation in this thread.

1. Since it was someone else's fault and they admitted fault the claim would be with the other persons insurance.

2. Since the other person is at 100% fault it would have zero impact on his premium.

3. If you did go through insurance The other persons insurance would foot the entire bill for you. You would pay no deductible.

4. The police do not notify the insurance companies.

5. Your insurance company couldn't care less if the other person pays you cash. 

6. The other persons premium will go up and that's why she is asking to go outside insurance. 
Click to expand...
:goodposting:  the only things I will add are as follows. 

If you live in a no fault state then your insurance pays and your rates go up. 

I wouldn't involve the insurance company and if I am not getting it fixed I would thank the other people for their kindness and take no money. 

 
msudaisy26 said:
:goodposting:  the only things I will add are as follows. 

If you live in a no fault state then your insurance pays and your rates go up. 

I wouldn't involve the insurance company and if I am not getting it fixed I would thank the other people for their kindness and take no money. 
Click to expand...
No fault has absolutely nothing to do with this. No fault is centered around bodily injury. 

 
Dan Lambskin said:
 Yeah I guess I'm mistaken, although in my experience my own insurance has always been the one to pay me but has waived my deductible in cases where I wasn't at fault 

Anyway in the case of this thread id just take the cash and not bother reporting it
Click to expand...
They may cut you a check but trust me they get their money from the other company in cases when you are not at fault. It's called subrogation.

 
shadyridr said:
They may cut you a check but trust me they get their money from the other company in cases when you are not at fault. It's called subrogation.
Click to expand...
That maybe true, but they still use it to raise your rates. It costs them money to get their money from the other insurance company. 

 
I feel like 20% of the people in this thread know what they are talking about and everyone else is total #### (likely everyone likes this thinking they are right).  

Stop giving advice if you have no clue.  We don't know his insurance.  Don't speculate.

 
Last edited by a moderator:
msudaisy26 said:
That maybe true, but they still use it to raise your rates. It costs them money to get their money from the other insurance company. 
Click to expand...
No you are very wrong.

The reason premiums increase when you make a claim isn't because it costs the company. Its because people at fault of an accident are statistically considered high risk at that point and likely to cause another accident. If the accident was entirely the other person's fault you are not considered an additional risk and your premiums won't go up. Its not the claim that increases your premium but the fact that you are considered risky if you cause an accident. The administrative costs of them getting the money from the other company are baked into everyone's rates already. Its not like they have to sue the other company. Subrigation is a standard practice. 

 
gianmarco said:
If it's minor and you're not going to repair, then why would you take any money?  If it's minor and you're going to repair, then get a few estimates and if it's nothing terrible, let her pay on her own.  No reason to involve insurance at this point. 
Click to expand...
You take money because they hit your property...wtf.  Your choice on how you use it but if/when you sell the vehicle it takes a hit for the damage.  Jesus...wtf.

 
Joe Summer said:
If it were me, I'd get a few estimates and then have the mom write me a check for 50% of the average cost. Then I'd pocket the money and not get the bumper repaired. No need to gouge the other family.

I don't think I'd turn it into insurance. Too much risk that your daughter's rate could end up increasing if she ends up making additional claims in the future (and gets labeled as a problem child).
Click to expand...
Why take 50%?  Seriously?

 
Scenario:  I punch you in the face and break your nose.  Its only a little bit crooked but you can still function.  Are you making me pay to fix it 100%, 50%, or 0%?

Am I paying after YOUR deductible?  (Bonus question).

 
shadyridr said:
No you are very wrong.

The reason premiums increase when you make a claim isn't because it costs the company. Its because people at fault of an accident are statistically considered high risk at that point and likely to cause another accident. If the accident was entirely the other person's fault you are not considered an additional risk and your premiums won't go up. Its not the claim that increases your premium but the fact that you are considered risky if you cause an accident. The administrative costs of them getting the money from the other company are baked into everyone's rates already. Its not like they have to sue the other company. Subrigation is a standard practice. 
Click to expand...
No that is wrong, I have been saying the same thing to my insurance company for the last 2 week. My premiums went up almost 20 percent after my claim from the accident I stated above.

I came out of a  Kohls to find a car that has backed into my truck, and the young lady was right there crying and upset about it. Police report is filed and she asks if she can pay for it rather than use the insurance companies. I say fine and get her info.

After getting 2 quotes that were almost even, I decided not to waste my time getting more quotes and call her. 2 weeks of calling and leaving a message with no responses. So I make a claim and get it fixed. This was back in August and my renewal is in January and July every year.

So I get my new policy statement and it went up almost 20 percent, off the top of my head I think it was 18.66, I call to find out why and a small part was just due to increases, but a much larger part was because of this claim. Despite no other claims since 2013, both of which were caused by acts of God, and despite my arguing that I had no fault and proof with a police report. 

So by the letter of the law you maybe right, but the way they interpret it is different. 

 
Last edited by a moderator:
msudaisy26 said:
No that is wrong, I have been saying the same thing to my insurance company for the last 2 week. My premiums went up almost 20 percent after my claim from the accident I stated above.

I came out of a  Kohls to find a car that has backed into my truck, and the young lady was right there crying and upset about it. Police report is filed and she asks if she can pay for it rather than use the insurance companies. I say fine and get her info.

After getting 2 quotes that were almost even, I decided not to waste my time and get more quotes and call her. 2 weeks of calling and leaving a message with no responses. So I make a claim and get it fixed. This was back in August and my renewal is in January and July every year.

So I get my new policy statement and it went up almost 20 percent, off the top of my head I think it was 18.66, I call to find out why and a small part was just die to increases, but a much larger part was because of this claim. Despite no other claims since 2013, both of which were caused by acts of God, and despite my arguing that I had no fault and proof with a police report. 

So by the letter of the law you maybe right, but the way they interpret it is different. 
Click to expand...
Pretty sure shady is an actuary for an insurance company...so...

 
xulf said:
Pretty sure shady is an actuary for an insurance company...so...
Click to expand...
I didn't realize that made him an expert in my state, on my insurance regarding my claim and my premiums. Thanks so much, I am sure this will clear my problem up 1st thing Monday morning.  :thumbup:

 
msudaisy26 said:
I didn't realize that made him an expert in my state, on my insurance regarding my claim and my premiums. Thanks so much, I am sure this will clear my problem up 1st thing Monday morning.  :thumbup:
Click to expand...
Nobody is talking about your problem but you.  That's not what this thread is about.

You told him he was wrong.  He wasn't.  You applied his response to your one situation.

 
xulf said:
Nobody is talking about your problem but you.  That's not what this thread is about.

You told him he was wrong.  He wasn't.  You applied his response to your one situation.
Click to expand...
Right, to tell the that if he is in a no fault state his rates might go up if he chooses the insurance route and gave him an example of how it happened to me. 

 
Michigan has the highest auto rates in the country. But they're still not making money because they have uncapped PIP (only state that does) and insurers are getting massacred on personal injury claims as a result. 

And I'm pretty sure No-fault is not applicable to physical damage to your vehicle.

As for the OP, assuming you trust that the person will pay, I wouldn't report it. However, make sure you read the terms of your policy to see if there's any limitation on how long you have to report a claim in the event that they balk.

 
Higher rates may be charged even if the other party is at fault depending on your state's laws.

https://www.nytimes.com/2017/02/15/your-money/auto-insurance-rates-quotes-no-fault-accident.html

Why do some insurers charge drivers for accidents they did not cause?

Insurers say it often is not clear which driver is at fault. Ms. Worters said your insurer may incur costs, even if you are not at fault, as a result of “subrogation,” or the process of seeking payment from the other driver’s insurer. “Assigning fault in an accident is rarely a zero-sum process where one driver is 100 percent at fault whereas the other driver is zero percent at fault,” she said.

There is “a tendency to believe the other driver is always responsible as opposed to me, when the facts may indicate otherwise,” Mr. Snyder said.
Click to expand...
The term "no fault" when used in connection with a state's insurance laws means that drivers are indemnified by their own insurance companies. It is not limited to medical or bodily injury (although insurance companies may offer products related to such). Many states have a blend of "no fault" and its counterpart, "tort" policies.

https://en.wikipedia.org/wiki/No-fault_insurance

However, the term "no-fault" is most commonly used in the context of state/provincial automobile insurance laws in the United States, Canada, and Australia, in which a policyholder (and his/her passengers) are not only reimbursed by the policyholder’s own insurance company without proof of fault, but also restricted in the right to seek recovery through the civil-justice system for losses caused by other parties.
Click to expand...
http://www.insurancequotes.org/qa/what-does-a-no-fault-state-mean-for-auto-insurance/

There are two types of insurance methods that states choose in their mandates they build for their residents: tort and no-fault. Some states use all of one or the other, and some use a combination of the two
Click to expand...
.

 
Last edited by a moderator:
TLEF316 said:
Michigan has the highest auto rates in the country. But they're still not making money because they have uncapped PIP (only state that does) and insurers are getting massacred on personal injury claims as a result. 

And I'm pretty sure No-fault is not applicable to physical damage to your vehicle.

As for the OP, assuming you trust that the person will pay, I wouldn't report it. However, make sure you read the terms of your policy to see if there's any limitation on how long you have to report a claim in the event that they balk.
Click to expand...
My insurance guy was talking to me about this a bit ago... to sum it up, he said Michigan is a mess and only getting messier for insurance.

 
tkrull said:
Teenage daughter's vehicle was struck in an icy high school parking lot.  Minor bumper damage.  May not be worth repairing (10+ year old minivan).  She was not present.  Other party reported the accident to the police and an accident report has been filed.

Just received a call from the other driver's mother.  She wanted to know if we had repair estimates.  Expressed interest in paying for the repair without involving insurance.  I told her to email her contact information and I'd get back to her.

What should I do here?  A quick internet search was unanimous that I should report to my insurance.  Is that the shark move?
Click to expand...
I spoke with my insurance guy. One of the big reasons he is my guy is that his background is actually as a lawyer working for insurance companies for a number of years. His depth of knowledge for the industry is well beyond that of any insurance agent that I have talked to or dealt with in the past (I am in financial services so we cross paths a lot). I brought up this question to him and he was pretty solid in saying that he would not report it. He even said he has a little fender bender thing before and he paid out of pocket versus going through insurance. He also said the police report would not change anything. Not sure if this is timely info for you or not but from everything you shared, the way the other party has been working with you and the info from my insurance expert- I would not go through insurance on this.

 
Dan Lambskin said:
 Yeah I guess I'm mistaken, although in my experience my own insurance has always been the one to pay me but has waived my deductible in cases where I wasn't at fault 
Click to expand...
Yes but your insurance is subrogating on your behalf.  They are just doing the work for you.

 
You must log in or register to reply here.

Similar threads

Anarchy99
Weird Car Accident - What Should Happen Moving Forward?
2
Replies
93
Views
3K
Corporation
Corporation
Warrior
Nanny legal question
Replies
22
Views
818
belljr
belljr
GordonGekko
What Do You Plan And Hope To Do After You Retire? (21/30)
2
Replies
85
Views
2K
Senor Schmutzig
Senor Schmutzig

Users who are viewing this thread

Total: 2 (members: 0, guests: 2)
Top