Auto Insurance Claims: Statute of Limitations, Statute of Limitations, Car insurance rates

Question
Last winter in VA, I was driving my 6 month old car in the
snow and didn't stop fast enough to avoid bumping into the
car in front of me.  It didn't do any damage to the car in
front and the owner was more worried about my car than his,
therefore, we didn't call the police.  At the time, I
thought the only damage with a minor knick on my license
plate.  After the snow melted a few days later, I realized
that my "tap" actually did a little bit of body damage to
the front bumper and hood.  I didn't report it to my
insurance and have continued to drive it since it is only
an eye sore.  Now, eight months later, I'm ready to get it
fixed and have had the repair appraised at $1,500 to
$1,800.  My deductible when the accident happened was
$1000.  I've since lowered it to $500.  I'm wondering if:
1) Should I even report the accident (I have 2 speeding
tickets that are already on my record).
2) When does the statute of limitations expire in VA for an
accident of this type.  
3) Should I just stomach the extra cost out of my pocket to
fix it instead of run it through insurance?
4) Which deductible will apply - $500 or $1,000?

Thanks for answering my question because I haven't wanted
to report it due to an increase in premium, etc.

Answer
Hello Mary,

Well, it is hard to answer your question. The statute of limitation for Injury to Personal Property is 5 years. However, your policy can restrict the amount time you have a claim. Most insurance policies have a “duty to report” clause. Read more here:

http://www.auto-insurance-claim-advice.com/Duty-to-Report-Losses.html

Consult with an attorney regarding your specific rights under your policy.

You have a possible out of pocket expense of $500 to $800 (counting the deductible of $1,000 at the time). You do have to consider your options carefully because two speeding tickets can really affect your rates with a claim. It will depend how long were those tickets and how “bad” were day.

You should get a quote for insurance now. Take a look to see where you stand with your won carrier and other companies before you make the claim, this way you know where you can go and get a good deal in case you have to (most insurance companies will honor their last quote). You can get several quotes at the same time at:

http://www.auto-accident-blog.com/go/auto-insurance-quotes.php

The decision to file is yours, but knowing where you stand now and where you will stand when you do file (should get a quote when you file but while the claim is pending) will help you determine what is best.

Good Luck,

Anne
http://www.SpokaneLegalHelp.com