Do not settle with the insurance company if you are not satisfied. Consider all of the factors in a settlement, from body injuries to vehicle damages to your appraisal clause, which can be used to settle any disagreements you might have with the insurer. Overall, it is important to understand your insurance policy. Make sure you are aware of everything that is covered in your policy, and don’t be afraid to ask your agent questions if you aren’t clear on something.
Because each state has consumer protection laws, a policyholder has certain rights, and because there is a legal contract between a policyholder and the insurance company, there are obligations and rights on both ends.
There is no uniform law stating that your premium will go up if you file a claim. With most insurance companies, however, filing a collision claim will remain in your auto insurance history, which will make the premiums rise. Chargeable claims, which are considered your fault, will remain on your premium for about three years after filing the claim. Other insurance agents will tell you that your rates will not go up if the accident was one where the other driver was completely at fault. It really comes down to your insurance company.
The value of your car is standardly determined by the Kelley Blue Book or One Blue Book, which give the depreciated value of used and new vehicles. Your should be able to sit down with your insurer to find out how much your car is worth for insurance purposes.
After filing a claim, an insurance adjuster will determine the costs for repairs, and you will have to sign something agreeing with the insurer's estimate as the complete claim payment. Keep in mind that if you think that bid is too low to adequately repair your car's damage, you do have the freedom to argue that choice. Most insurance companies will require several estimates, but will choose the lowest.
