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When Not To File A Car Insurance Claim?

Car insurance is of immense benefit for any driver and mandatory according to law. It protects you from unforeseen expenditures when you get into car accident.  This stands you in good stead in the event of your car being damaged or stolen.

Hence it is in the essential fitness of things that you should go for Car insurance irrespective of your car being new or used/old.

However, getting insurance is only half the story. There is not a shadow of doubt that once you’ve purchased you Car insurance policy, you can drive worry-free.  It is a common knowledge that if you are in an accident, you can get a hold of your insurance company and file a claim with them.  However, it may not be a wise idea to claim insurance every time. As a matter of fact, filing of claims in a judicious manner can result in the saving of money at a later stage. Mar 22, 2013 – Even though you’ve been in a car accident, it’s not always a wise idea to file an auto insurance claim. Here are few situations where you can save money in the long run by not filing up a car insurance claim.

When you run into accident and it is minor

You’ve an accident and there has been a minor damage to your car, you’re better off paying out of pocket. Doing this ensures that your no claim bonus stays intact and you end up paying less premiums.

 Claiming your insurance for each incident

Claiming your insurance on each and every incident of damage won’t be beneficial to you. Doing this might lead the insurance provider to increase your annual premium costs. In this scenario, the insurer might think of replacing your damaged parts with pre-owned parts as a substitute of never used ones.

 Settle it personally

If you have an accident and end up damaging the other person’s car due to your own fault, and have Third Party Liability insurance, it’s best to settle it personally instead of making the insurance provider the mediator.In the above-mentioned situations, you should forego claiming your car insurance. It will lower your annual premium while still enjoying the patronage of insurance in case any untoward incident happens.

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