Should Minor Car Accidents be reported to My Insurance Company?

April 11, 2020

Your choices should be carefully considered

There are situations where one might be better off paying for damages themselves following an accident. For example, when:

The other vehicle was parked and unattended - and -
The damage is well within your ability to pay out of pocket - and -
There is no other passenger or pedestrian involved

Most insurance company rating programs will result in higher premiums following what is called an at-fault accident through the application of:

Surcharges
Loss of discounts

That is why and when it may be advisable to go it alone.

However, when two vehicles are moving - and/or - there is the possibility of someone claiming injuries there is much more at risk. If any of those factors are involved it would be in one’s best interest to report this kind of claim, even if they may be smaller in dollar value.

Why?

Because it is all too frequent that stories change after a loss occurs.
Mysterious injuries crop up after the fact.
The other party’s description of the accident changes to favor them.
Dollar values of the loss become inflated.

Having an insurance company represent your interest in a moving accident puts an expert in your corner without cost to you. That is, other than what might be a slightly higher premium at renewal. And though likely, a higher premium is not always the result.

Regardless, a slightly higher premium is a small price to pay for professional representation for claims scenarios involving injuries or stories that go sideways.

Important to keep in mind... scenarios frequently change following a claim. If you sense that the other party will attempt to use the incident to their advantage, don’t walk, run to report the claim to your insurance company.

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