Auto Insurance Claims: Car insurance payments, minor scrapes, hotmal

Question
Hello,

I am a 23 year old male. I just got into my first accident bumping into a ladys car. There was no major damage, just minor scrapes to her rear bumper. She went and got an estimate of $460 to fix it. We both agreed to talk with each other first before going to the insurance company first to see about working something out.

I am wondering if I should pay for the damage myself or just go through insurance. Which would be cheaper for me in the short and long run? And also, if the estimate she gave me was right, and should I ask her to get another cheaper one.


Thank you so much for your time,
Sylvester
slyjr007@hotmal.com
678-389-9929  

Answer
Hello sylvester,

Since the damage amount is so low, I would suggest that you pay the amount yourself.  You should have the lady sign a release form in exchange for your payment. That way she can not come back later saying that it actually cost more then her estimate.

If you make an insurance claim, your rates could go up 15% to 20% per year for the next 3 years.

I hope this helps
Richard Hixenbaugh