How do you know whether to file an insurance claim or pay out of pocket?
Here are a couple of guidelines regarding insurance claims:
- If damages are costly, you are liable to others, or your loan or lease requires it, you may want to file a claim.
- If damage is minor, costs are less or close to your deductible, or you were in a single-car accident, you may want to pay out-of-pocket.
To save money, consider raising your deductible and self-insuring smaller claims. Filing a claim can raise your rates even if it’s not your fault, so consider the potential payout versus a premium increase.
If you have any questions about your insurance, give us a call at 1-800-279-4030 or schedule a personal insurance consultation.