How does an accident affect my insurance? Should I pay for a small claim myself?

An accident can indeed affect your insurance premiums, typically resulting in an increase. Insurance companies base their rates on risk, and if you’re involved in an accident, they may view you as a higher risk to insure. However, the extent of the impact can vary depending on several factors, such as the severity of the accident, who was at fault, your driving history, and the policies of your specific insurance provider.

In terms of whether you should pay for small claims yourself, it depends on the situation. Filing a claim for minor damages can lead to increased premiums over time, potentially costing you more in the long run than if you paid for the repairs out of pocket. Insurance companies may also have deductibles that need to be met before they cover the cost of repairs, and if the damages are only slightly above your deductible, it might not be worth filing a claim.

On the other hand, if the damages are significant or if you’re not at fault in the accident, it may make more sense to file a claim with your insurance company. They can help cover the costs of repairs and any medical expenses, which can be substantial in certain situations.

Ultimately, it’s essential to weigh the pros and cons of filing a claim based on the circumstances of the accident and your insurance policy. If you’re unsure, you can always call us at (425)212-3505 for guidance on the best course of action.