If you were involved in a minor auto accident, you may find yourself wondering whether you should pay for the repair out-of-pocket or file an insurance claim. Here is some information you need to know when making this decision.
The Cost of the Repair Versus Your Deductible
When you are deciding whether to file an insurance claim following an auto accident or whether to pay for the damage out of pocket, you need to consider the cost of the repairs versus the cost of your insurance deductible. Always get estimates from a few auto repair shops so you know how much you can expect to pay for the repairs. If the repairs are cheaper than your insurance deductible, or about the same amount, you are likely better off just paying for them yourself.
The Impact to Your Driving Record
When deciding whether to pay for repairs out of your own pocket or whether to file an auto insurance claim, you may be thinking about the impact to your driving record. Many people mistakenly believe that the accident won't show up on their driving record or insurance record if they pay for the damage themselves. However, in the state of Minnesota, you are required to report all auto accidents with $1,000 worth of damage to the Minnesota Department of Safety within ten days. If you fail to do so, you can be fined or have your license suspended if they find out about the accident. As such, your driving record and insurance rates will be impacted by the accident once it is reported. As such, this should not factor into your decision to repair or not repair your car through your insurance.
The Potential for Further Damage to Be Uncovered
The last factor you need to keep in mind when deciding whether to file an insurance claim or pay for the repairs yourself is that further damage may be uncovered. Until a mechanic begins to pull panels off, they may be unable to see the full scope of the damage done to your car. This can cause the price of your repairs to increase. If your finances are tight, and you can't afford repairs that are greater than what your deductible is, you may be better off filing an insurance claim in case additional damage is discovered.
If you need to have your car repaired after an auto accident, Suburban Auto Body in the greater St. Paul MN area can help you, regardless of whether you are paying out of pocket or filing an insurance claim. Contact us today to set up an appointment to look at your car and get a written repair estimate.