|
I would talk to your insurance agent and I would advise he do the same before making any payments. Chances are his insurance is going to rise anyway after they realize an accident has occurred, unless of course a police report isn't filed by either party. If that is the case and he's willing to pay out the amount in damages or from what it sounds thus far, vehicle replacement, then let him.
The reason for my prior warning, on his part, is that if the insurance company gets word of the accident, his rates will rise so anyway it would have been just as well he went through the insurance company to begin with. I'm speaking from an example, an accident my brother had over 5 years ago, and he agreed to pay out $1400 himself. Little did he realize, the person he hit filed a police report, which is required by law, so his rates increased regardless of what happened, just because he's now considered a high risk driver. If he had his time back he would have accepted the rate increase and let the insurance pay it out. That way the car I'm driving now would have been fixed properly with nothing out of his own pocket since he was 4th driver on the vehicle at the time.
The same can be said for you. I wouldn't be surprised if your insurance rates go up because of this accident as you will be classified as high risk also, at fault or not.
Hope it all works out.
Last edited by 95 SentraB13 : Apr 15th, 2004 at 12:09 AM.
|