Getting into a car accident is always a stressful situation. You’re worried about injuries, damage to your vehicle, and of course, money. How do you know if paying for repairs out of pocket will help you in the long run or make things more complicated? We’ve got you covered. Here are some questions to ask yourself when considering paying out of pocket after a car accident.
Who else was involved in the accident?
Single-vehicle accidents
Car accidents don’t always involve other motorists; lousy weather conditions, distracted driving, or vehicle malfunction can lead to single-vehicle accidents. If you hit an inanimate object and your car is damaged, the first thing you should do is check your deductible. For example, if you back into your mailbox and dent your fender, it may make more sense to pay for the repairs yourself and not file a claim with your insurance company. This is an easy case where paying out of pocket makes sense.
But you may be asking yourself, what harm is there in filing a claim when it was a minor accident that wasn’t necessarily my fault? Well, liability is a tricky thing, and sometimes even when you’re not totally at-fault, an accident can cause your insurance rate to go up.
Paying out of pocket vs. filing a claim
- Get a Car Insurance Quote
- Elephant's Multi-Car Discount
- About Elephant Insurance
- Elephant Reviews
- Elephant's Blog - The Glovebox
- Elephant Careers
- Partner With Us
- Elephant FAQs
- Elephant Terms of Use
- Elephant Insurance Privacy & Security
- Elephant's Responsible Disclosure
Popular Podcasts
Stuff You Should Know
If you've ever wanted to know about champagne, satanism, the Stonewall Uprising, chaos theory, LSD, El Nino, true crime and Rosa Parks, then look no further. Josh and Chuck have you covered.
The Joe Rogan Experience
The official podcast of comedian Joe Rogan.
Dateline NBC
Current and classic episodes, featuring compelling true-crime mysteries, powerful documentaries and in-depth investigations. Special Summer Offer: Exclusively on Apple Podcasts, try our Dateline Premium subscription completely free for one month! With Dateline Premium, you get every episode ad-free plus exclusive bonus content.