Not every fender bender is worth a claim. Filing can raise your premium for three to five years, sometimes by more than the claim pays out.
Run the math first
- Subtract your deductible from the repair cost. That is what the insurer actually pays.
- Estimate the premium increase: a claim can add 20-40% for several years.
- Compare the payout to the total added premium over that period.
When to file
- The damage far exceeds your deductible.
- Another person was injured or another car was involved.
- You cannot afford the repair out of pocket.
When to pay yourself
- The repair is barely above your deductible.
- It is a single-car, no-injury incident.
Also remember: liability claims and injuries should almost always be reported, even if vehicle damage is minor.