Tag: premium increases

Before filing an insurance claim for minor damage like dents or scratches, carefully consider the potential long-term financial impact. Filing a claim, even if you’re not at fault, can lead to premium increases (potentially 52% nationwide for auto accidents), impacting your budget for at least three years and making it harder to shop for better rates. Losing safe driver discounts is another risk. While reporting accidents to your insurer is often required, filing a claim is optional—weigh the immediate repair cost