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  • auto insurance claim

    My almost 23 yr old damaged her car when she hit a pole(so at fault) going into a parking spot. Its a leased '19 Honda Civic w/4k on it and insured through Geico. She filed a claim and received an estimate of $1475 to replace the front bumper cover, driver side front panel and some other smaller items. She carries 1000 deductible, has rental coverage but has no accident forgiveness on her policy. Would it make more sense for her to drop the claim and just pay it all out of pocket? Not sure if and how much her rates would increase. First time claim on a policy she took out 7 months ago. No hx of any other accidents.

  • #2
    I would have just paid out of pocket but I’m not sure how easy it would be to back out of a claim or if it will affect your rates since your insurance company knows about the accident.

    Also, sometimes the damage can end up being a lot more costly once they get the bumper and panels off.

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    • #3
      Also- Will any of the charges on my final (end-of term) bill be waived for loyalty?

      Yes, as a loyal customer¹, you can take advantage of an additional $500 Excessive Wear-and-Use or Damage Waiver² on the vehicle you are turning in (up to $1,000 total waived) and a waiver on the turn-in fee for your current vehicle.

      ¹ A loyal customer is one who purchases or leases another new Honda or Acura automobile within 30 days prior to or after the turn-in date.
      ² Honda Leadership Leasing includes a $500 Excessive Wear-and-Use or Damage Waiver. Loyal customers may qualify for an additional waiver and may be eligible for a turn-in fee waiver. Total Excessive Wear-and-Use or Damage Waiver amount not to exceed $1,000.

      According to Honda website-You may return your leased vehicle without making repairs, however you will receive a bill for the
      cost of excess wear and use. Contact the Lease Maturity Center before making any repairs, as
      some damages may be covered by your Excessive Wear-and-Use or Damage Waiver. Keep in
      mind that the use of Honda Genuine parts is a requirement of lease agreements

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      • #4
        Originally posted by CordMcNally View Post
        I would have just paid out of pocket but I’m not sure how easy it would be to back out of a claim or if it will affect your rates since your insurance company knows about the accident.
        Also, sometimes the damage can end up being a lot more costly once they get the bumper and panels off.
        I hate auto insurance. Unless its big, they more than make the money back if by chance you have any second accident. And the insurance companies don't cut much premium over $500-$1000 deductible. Geez.

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        • #5
          I responded to your identical post on Bogleheads. There may be supplemental damages found on tear down not visible in the initial inspection and the rental car costs for the duration of repairs.

          We turned in an Acura lease with a decent amount of damage to the quarter panel - DW was hit-skipped. It wasn’t worth filing a claim with our $1k deductible. Damage allowance was $1k and the lease end estimate came in around $700. The inspector was pretty generous, actual repairs would have likely been higher - I spent time as a field adjuster working with body shops.

          If you’ve already notified insurance, just take the payout, someone has already recorded it as an at fault. If you only have an estimate, but haven’t involved the insurance in any way, drop the claim.

          When I worked for an insurer, we had a claims workflow to confirm coverage, establish liability, and then assess damages. If you’re already at the final step, adverse liability is recorded. The amount of the payout can come into play but that is carrier and state specific. My background wasn’t with Geico or Georgia.

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