Insurance and Accidents: When to pay up or go through insurance

Accidents and Insurance TorontoWhen it comes to insurance and accidents, drivers are always deciding whether to go through insurance or pay for it on their own. When it comes to collisions, your decision making may not be on point, so it’s important to consider everything before making that decision.

Decisions, Decisions

With insurance rates at its highest throughout the country, residents of Ontario know they don’t want their insurance premiums going any higher. A thorough assessment of your vehicle’s damage should determine whether a car owner should want to have their insurance pay or if it’s wiser to pay for your own repairs.

Know that when you do get into an accident, there are certain things to consider and here are just a few:

  • Your driving record will indicate and effect your insurance rates.
  • Does your insurance  policy offer a forgiveness clause for a one or first time-collision and repair?
  • The amount of your deductible in your insurance policy is also a crucial factor in determining if you will pay out pocket or not for repairs.
  • Insurance companies consider ALL the accidents you’ve been in, whether you are at fault or not.
  • If you are only insured  for liability coverage  personal injury – an additional cost of getting your vehicle repaired is also a consideration.
  • Driver’s need to consider and weigh their personal finances and insurance coverage before making the right decision in regards to repairing  their vehicle.
  • Know what your coverage and deductible is written in your policy.
  • Know if the cost of repairs exceed or are below the deductible written in your policy.
  • Get a proper and professional estimate/appraisal from your body shop repair facility before making a decision.

Depending on your situation, you as the driver need to consider all factors.

All things considered, it’s up to the vehicle owner to determine whether it’s worth going through insurance or paying out of pocket. Consider your options and choose wisely!

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