Should you file an auto insurance claim in case you’ve been involved in a minor accident? As we all know, filing a motor insurance claim will certainly have an effect on premiums for a long time period.
But, it’s impossible to know exact period and rates due to complex calculations of insurance companies in India. Below are some of the tips which help you to decide whether or not filing a vehicle insurance claim will be to your benefit:
- In case policyholder is involved in a single car accident, he or she is uninjured and the vehicle damage is also minor, then insured should think at least twice before filing an accident claim.
- Driving records of policyholders are checkered with moving violations.
- Policyholder can easily afford to pay for vehicle damages out of his own wallet.
- Insured who have had an accident in the last three years.
- As compared to the estimated repair cost, your insurance deductible is high.
- In accident situation, if you’re at fault, then try to convince the other driver not to file a motor insurance claim and you’d rather pay out of your pocket for the damages.
- If accident does not involve the risk of a lawsuit or any personal injury, then avoid filing a claim.
- Situations that don’t involve any medical help and resources which you probably could afford on your own are some other important considerations when it’s best to not file a claim.
Repair expenses which policyholders pay may be worth not having the accident added to your insurance claims history. Remember that if you file auto insurance claims more frequently, then your insurance premium will also increase.