Car insurance gives protection against damages and financial loss. However, is it wise to claim every time the vehicle is involved in an accident or suffers minor bumper damage? Remember that whenever we file for a claim, it increases premiums in the future and might require expenses from your pocket for additional damages.
In the following section, we will explore things to consider and when to file a claim for car damage.
When you should and shouldn’t claim insurance for bumper damage?
Are you looking to claim car insurance for minor bumper damages? First, let’s explore when you should claim insurance for bumper damage. Here are some instances:
If the loss is considerable
The loss could be significant if the accident involves another driver or more than two vehicles. In that case, a car owner can consider claim filing for a smooth process.
If there is an injury
If anyone gets injured in the accident, inform the insurance provider immediately. It is advisable not to hide such incidents or pay out of pocket for repairs. Hiding injury due to a car accident can have adverse consequences in the future, like civil suits for injuries.
If the repairing cost exceeds the deductible
If the expenses to repair the bumper exceed insurance deductibles, you should file a claim to cover surplus expenses.
If it isn’t your fault
Car owners should file a claim for bumper damage when they have to spend for medical or other bills for another driver involved when expenses are beyond their means, and it is someone else’s fault.
Here are some scenarios where you shouldn’t claim car insurance:
If you don’t have comprehensive car insurance coverage
You should not file a claim for bumper damage when you do not have comprehensive car insurance; you do not have to pay another party, and you can easily pay for the damage to your car.
If you have filed claims in the recent past
You should consider not filing a claim if you have filed a claim in the last three to five years, as it drastically increases premiums in the future.
If it is your fault
You should refrain from claiming insurance if bumper damage is due to your negligence.
If the repair cost does not exceed the deductible
You should not claim car insurance for bumper damage if the repair cost is lower than your deductibles. It means you will have to spend from your pocket and also suffer from higher premiums in the future.
Conclusion
These are significant conditions to decide whether you should file a claim car insurance for bumper damage or not. Remember, car insurance is a financial protection against damages due to accidents. An insurance claim may be an option if you are not financially able to fix the bumper damage by yourself, even if it can cause higher premiums later on. Leverage the insurance cover according to your financial circumstances and drive safe.
Disclaimer: The information provided in this blog is for educational and informational purposes only. It may contain outdated data and information regarding the Insurance industry and products. It is advised to verify the currency and relevance of the data and information before taking any major steps. ICICI Lombard is not liable for any inaccuracies or consequences resulting from the use of this outdated information.