Believe it or not, there are times when you should not file an insurance claim. You may be wondering why, but do not fret. We are here to help. Sometimes filing an insurance claim will not help you save money. At Your Insurance Attorney, we are a Miami office that is here to show you when you should not file an insurance claim. Let your search for an “insurance lawyer near me,” be over!
Six Reasons To Not File
- You have filed a claim recently.
The average person files a claim every ten years. If you have filed a claim recently, your monthly rates could increase significantly by filing another, no matter how small the damages.
- Your repairs are cheaper than your deductible.
A deductible is an out-of-pocket price you have to pay for damages incurred on your vehicle that your provider will not cover. For example, if your deductible is $600 and your damages total at $700, your provider would only cover $100 of your damages. If your damages totaled at $500, your insurer would not cover anything. If you filed minor damage, your monthly premiums could still go up. This makes filing pointless since it does nothing good for you.
- There is no injuries and no accident report.
For car insurance, a small claim could increase your rates for years. If the accident was not serious, and there was no accident report or injuries, there is no need to file a claim. You will just be making things harder for yourself if you do. You do not want your rates could skyrocket. It would be cheaper for you to pay for the damages yourself than to notify your insurance company. However, if there is an accident report, your provider will most likely find out about the accident regardless as to whether or not you report it.
- There will be no lawsuit.
Insurance companies are there to help if someone decides to file a suit. However, if the other party involved in a collision does not plan to file suit, there is no need to get the insurance company involved. It would be cheaper for you to pay someone directly for their damages.
- You have money in savings.
If the damages incurred are small and you have money in savings or an emergency fund, it would be smarter to use that money than to involve the insurance company. This will prevent you from receiving higher premiums.
- Be cautious when asking questions.
Some providers are required to report “inquiries” you make when discussing your coverage. An inquiry you make about your coverage could raise suspicion and cause your rates to be increased.
An Insurance Claim Is Not Always The Answer
In conclusion, depending on the type of accident you are involved in, if it is on a smaller side, it is a waste of time and money to file a claim. Although you are driven by instinct to call your insurance provider immediately after the crash automatically, take a second to think about it. In most cases where the crash was not as significant, you’re just paying more money and raising your premiums when you do not have to. If you are ever conflicted or confused, give us a call for assistance!