Everyone has heard that there are no free lunches, some are still finding this out. People always ask if a claim will impact their driving record in one degree or another. The answer is unfortunately YES in almost every situation.
All claims, whether your fault or not (with very few exceptions) do impact your current rating and will almost certainly impact any new insurance quotes you may seek.
Claim amounts and frequency impact your rates. It's best to self insure (or cover it yourself) on the smaller issues and let your insurance cover the expensive damages which you cannot afford to cover.
The type of insurance you deal with can also affect your rate. When you get or give a small parking lot scuff or ding you should think twice before calling your agent or the provided "1-800" number to ask if you should claim or not.
One meaningful difference between an Independent agent/broker and a Captive agent is that we have different obligations when it comes to your best interest.
For example, (and from my from my experience) let's say you call into the carrier's toll free number or speak to your captive agent. As is typical, let's say the question is about whether you should make a claim on a parking lot scuff caused by you backing into another person's car. Chances are very good that you will likely get that claim noted on your record, affecting your tier rating and possibly your premium for the next 3-5 years.
If you instead decided to call me, as your independent agent/broker you will likely get the answer to your question answered and an understanding that a claim is not required from you in this situation, unless you had damage to your vehicle (from this incident) that you wished to have repaired.
Both, the insurance companies and their captive agents are often obligated to report such claims or coverage questions to their respective company, which carry consequences into the long term.
Give me a call. I'm here to work for you!
All claims, whether your fault or not (with very few exceptions) do impact your current rating and will almost certainly impact any new insurance quotes you may seek.
Claim amounts and frequency impact your rates. It's best to self insure (or cover it yourself) on the smaller issues and let your insurance cover the expensive damages which you cannot afford to cover.
The type of insurance you deal with can also affect your rate. When you get or give a small parking lot scuff or ding you should think twice before calling your agent or the provided "1-800" number to ask if you should claim or not.
One meaningful difference between an Independent agent/broker and a Captive agent is that we have different obligations when it comes to your best interest.
For example, (and from my from my experience) let's say you call into the carrier's toll free number or speak to your captive agent. As is typical, let's say the question is about whether you should make a claim on a parking lot scuff caused by you backing into another person's car. Chances are very good that you will likely get that claim noted on your record, affecting your tier rating and possibly your premium for the next 3-5 years.
If you instead decided to call me, as your independent agent/broker you will likely get the answer to your question answered and an understanding that a claim is not required from you in this situation, unless you had damage to your vehicle (from this incident) that you wished to have repaired.
Both, the insurance companies and their captive agents are often obligated to report such claims or coverage questions to their respective company, which carry consequences into the long term.
Give me a call. I'm here to work for you!
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