Insurancer Claim Question

[Dick Denenny]

I mentioned the other day about my accident regarding putting my wing tip into my car and ending up with a hole in the leading edge.

My question is should I turn this into my insurance for a claim?

Repair will be under $2000.

Currently paying a about $3200 for the insurance. How would that impact me?

Dick

[hammdo]

I'd eat it myself and treat that as maintenance -- insurance is pretty crazy and a claim may give the insurance co reason to raise rates over it. Plus you'd have a claim on record.

my .02...

-Don

[DonMuncy]

If you are not in the "disadvantaged" age group and have never had a claim before, it is unlikely to have any appreciable effect on your policy or your premium. The biggest fear is that if you file this one, in the future if you have another one, it might cause a problem. No guarantees.

[StevenL757]

@Dick Denenny, If your claim were, say, $20,000, then yes; but personally, I wouldn't put in the claim for $2,000.  Regardless of whether your rates will go up or not, you could still be re-tiered by the carrier (if aviation carriers do indeed re-tier), and end up paying more in the long run.  I appreciate this is what insurance is for; however, this is still an "at-fault" accident.  Putting in the claim opens you up more to a premium increase, a potential non-renewal, and the likelihood of a negative, knock-on impact for other owners.  Am guessing you'll need to address the damage to your own car as well through a similar channel.

Thoughts from one of my own family members with 42+ years in the insurance biz.

[thinwing]

21 minutes ago, Dick Denenny said:

I mentioned the other day about my accident regarding putting my wing tip into my car and ending up with a hole in the leading edge.

My question is should I turn this into my insurance for a claim?

Repair will be under $2000.

Currently paying a about $3200 for the insurance. How would that impact me?

Dick

you didnt mention what your deductable was..500?,1000?......that would make a big difference as to whether you want this claim on your history

[jaylw314]

for $2 AMU, it's hard to imagine it's worth a claim, even if the deductible is only $500.  The whole point of insurance is to cover costs you CAN'T afford, not ones you CAN afford

[Boilermonkey]

I'd just pay for the repair and keep my insurability in tact.

[GeeBee]

Pay the 2K.

 

 

 

 

[Mufflerbearing]

I'm with the majority here.  Pay the 2K and move on.

[MikeOH]

Cost me about the same when I was pushing my plane into the hangar and hit the elevator on a shelving unit.

Never even crossed my mind to file a claim.

[hphillips]

Pay the 2k, not worth the unknown impact moving forward 

[carusoam]

Holy cow…

only 2amu?

Get it swapped out before anyone notices!   
 

We have an insurance guy around here that is really helpful, if you want to ask our pro… find Parker…

Best regards,

-a-

[tgardnerh]

If you listen to the overwhelming advice on the thread and just eat the 2k, then you should also consider asking your insurer for a higher deductible.
As others have mentioned, insurance is for the costs we *can't* cover, and I try to have all of my deductibles reflect that.


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[Dick Denenny]

Thanks to all that responded. The direction recommended is pretty much the way I thought I should go.

[Parker_Woodruff]

It depends on your current pilot credentials and which carrier you're presently with.  I probably wouldn't submit it, but there are certain cases where there is little likelihood of it working against you.

If you're at your likely long-term carrier and are under 64-65 years old, I don't think there's much adverse risk.  But there's also paperwork, etc.

[Parker_Woodruff]

I just saw the post with pics on the damage.  Are you sure that repair will be less than $2000?