OT: Car Insurnace ?

[fg7321]

My wife had an at fault accident back in early November. Her car had minimal damage the other car had minimal damage (~3500) that was fixed and my insurance paid the claim. There was hidden damage to my wife's car that we didn't know about until we saw her headlight fogging up. Her car is an Audi A3 the estimate just to replace the headlight is $2000. To fix the cracked grill and a very small paint area on her hood would be ~$3500.

I called NJM to reopen the original claim and I'm trying to find out how much it would raise my rate to do the additional $3500. NJM refuses to provide that info. They of course know and have some type of formula they use when they raise their rates.

Anyone have an idea how this works?

 

[Tango Two]

How much does insurance increase after an accident in NJ?


Average Car Insurance Increase After an Accident in NJ

According to recent data, the average car insurance premium in New Jersey increases by approximately 45% after an at-fault accident. For instance, if your annual premium was $1,200, you could see an increase of up to $540.

 

[Tango Two]

Depending on your situation it might be cheaper to pay out of pocket instead of making a claim.

I used to tell people that unless your car had MANY thousands of dollars of damage many times it was cheaper to pay instead of making a claim.

 

[fg7321]

Depending on your situation it might be cheaper to pay out of pocket instead of making a claim.

I used to tell people that unless your car had MANY thousands of dollars of damage many times it was cheaper to pay instead of making a claim.

NJM already paid out on the other car's damage. Im trying to figure out if they will increase the increase if we use them to fix our car. An Audi headlight alone is $2000

 

[ClassOf02v.2]

NJM already paid out on the other car's damage. Im trying to figure out if they will increase the increase if we use them to fix our car. An Audi headlight alone is $2000

No insurance company will be able to answer that question. Yes there will be an increase in your premium. How much of it is decided by underwriters, actuaries, and people responsible for overall portfolio management. The people you are speaking with handle claims payouts & settlements. They have no authority over what your premium will be upon the next renewal cycle.

 

[yesrutgers01]

not for nothing. but as soon as you called to ask- they are readjusting even if they will not cover. We had a situation where a car bumped into my son's car in a parking lot. they left the scene. it was about 1000 damage. We called the insurance company to ask some questions and ended up deciding to just pay for it ourselves and not use insurance...they kept it on record. He had an accident 6 months later and wanted to make a claim and they brought up the prior call and were going to drop his coverage for having 2 incidents in 6 months.

 

[dconifer0]

The more I deal with insurance companies, the less I know. But is there such thing as an "at fault" accident in New Jersey? I thought not, given that it's a "no-fault" state. But as I said, I don't feel like I understand how it all works...

 

[fg7321]

not for nothing. but as soon as you called to ask- they are readjusting even if they will not cover. We had a situation where a car bumped into my son's car in a parking lot. they left the scene. it was about 1000 damage. We called the insurance company to ask some questions and ended up deciding to just pay for it ourselves and not use insurance...they kept it on record. He had an accident 6 months later and wanted to make a claim and they brought up the prior call and were going to drop his coverage for having 2 incidents in 6 months.

if they didn't experience a loss in the first accident how can they hold that against you?

 

[fg7321]

No insurance company will be able to answer that question. Yes there will be an increase in your premium. How much of it is decided by underwriters, actuaries, and people responsible for overall portfolio management. The people you are speaking with handle claims payouts & settlements. They have no authority over what your premium will be upon the next renewal cycle.

They have a formula they use to evaluate your premium. They consider it proprietary.

 

[24Babybull]

I claimed a cracked Windshield years ago - the insurance company jacked up my Premium the next year for the exact cost of the Windshield. Total scam - i dropped them.