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Car accident - Which is better? Settle by cash or go through insurance for $1000 ?
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Car accident - Which is better? Settle by cash or go through insurance for $1000 ?

I had a car accident and it was my fault- no points. I had no damages but the other car had which are worth $1700. I have a deductible of $500. Never had an accident before

I'm sure my premium would jack up if I report through insurance but DON"T KNOW by HOW MUCH. Is it a good choice to go through insurance for a net difference of $1200 ? What's the total impact of going through insurance, pls advise.. Thanks


The best thing to do is to talk to your insurance agent and be frank with him. Ask him how much your insurance will go up and he'll be more than willing to help. Simply mentioning it to him does not mean he will file the claim. Since the damages are greater than $1000, it's quite possible it will be less expensive for you to go through insurance, especially if this is your first accident. After my first accident, my insurance only went up $8 per month and I'm in a high risk age group.

Lori E
If you could afford to pay the bill and get the other guys car fixed, do it. Save yourself the heartache of jacked up insurance rates. If it's not affordable, go through the insurance, but I'd try and avoid it if I could.

pay without insurance and drive careful in future!

if you can agree whose fault it was and just pay cash then your policies will probly both stay low and save you both a ton of money

Bad idea. Always go though insurance to C.Y.A.

Eleanor Roosevelt
If you do a cash settlement right now they can still hit you with a civil suit later on in order to max out your insurance policy.

If you have the money pay it off because it will also be on your record and you your monthly payments will go up sorry i dont know how much at least it wasnt serious that sounds pretty cheap now a days for an accident .

I would say go with cash, but make sure you get the other party to sign a statement saying they waive their right to sue you in the future.

Richard T
It's wildly different depending on your insurance company, but odds are you're better off settling for cash. Your premium will probably go up by more than $300/year, for more than 4 years.

If you have an agent, ask him/her. Your agent can also give you standard release forms for the other driver to sign, so you don't get sued down the road. If you're with a company that insures directly, call them, describe your situation but don't give them your name, and they'll tell you.

I say don't go with insurance even if its your first accident because you can pay it off. If you go with your insurance, next time you have an accident, they will nail you hard so i say pay yourself.

Let me tell you with the deductible being 500.00 your better off settling in cash then to turn into your insurance co. I will tell you your Insurance will go quite a bit and then you carry that accident for three years on your insurance. I'm saying for the State of Pennsylvania , I not sure where you are located but check into your insurance laws for your state. Best of luck to you!

I just went through this kind of crap myself...except in my case the other guy was at fault...& I still passionately believe that it's far better to settle rather than go to the courts...the law is quick to hurt you but slow as h*ll to help you, courts only complicate matters and make expenses skyrocket! Anything the government can do you can do better! Or, you can choose to ignore me and be a good little conformist and do what your uncle sam wants & take your chances with him, but when it goes bad for you- and it will...please just remember me and remember "I told you so!"

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