Anybody here know how car insurance works? - FMVperformance.com : The site for all your Ford Mazda and Volvo needs
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post #1 of 12 (permalink) Old 08-09-2004, 12:57 PM Thread Starter
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Anybody here know how car insurance works?

I have a rough idea of what is going to happen but let me explain the situation. Yesterday I just got back from camping and I got a call from my dad, he informed me that my brother curbed his car coming home (04 S-2000). So I called him up and offered to come help him get his car towed and follow it to the dealership. Anyway we dont know how much damage has been done yet, I am guessing 5K+, rear passenger side control arm looks snapped, wheel is F'd, tire has a bulge, brake rotor snapped into 3 pieces and managed to put a scratch on his passenger door upon exiting the wheel housing (dont ask me how). And some major toe in, oh and the exhuast is scracthed and probably bent to shit as well.

The problem is my brother is only 20 years old and already pays $400 a month for insurance, he has a few tickets already and because he was the only person involved in this accident his rates will surely go up. Really shitty timing on his part because come October 1rst insurance rates are dropping a lot for guys our age (as much as 75%) but it all depends on your driving record, he might be paying out the ass come October if he goes through insurance. One thing I dont know his how long his rates will be inflated after this accident thats what I really need to know, because I think if the total damage is not that bad I might be able to loan him some money to get his car fixed without going through insurance.

Of course I dont like the idea of using my money on his car, because I was going to do some more mods to my 3 but if it helps my brother out I would be more than willing to throw some cash his way. But I really need to know how long his rates will be increased before we make a decision on what to do.

If you guys want to see the pictures you *might have to register here http://forums.clubrsx.com/showthread.php?t=183475

He seems to think the damage figure is closer to $7500 but we will find out for sure in a couple of days.

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post #2 of 12 (permalink) Old 08-09-2004, 01:02 PM
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Anybody here know how car insurance works?

Generally, insurance companies look at your 3 year driving history.

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post #3 of 12 (permalink) Old 08-09-2004, 01:36 PM
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Anybody here know how car insurance works?

Quote:
Originally Posted by "Ghoulish Delight"
Generally, insurance companies look at your 3 year driving history.
5 yr, these days. But that's also the US, not Canada.

Regardless yeah a 1-car accident, unless he can prove it was something out of his control, he's gonna get killed.
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post #4 of 12 (permalink) Old 08-09-2004, 01:51 PM
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Anybody here know how car insurance works?

Quote:
Originally Posted by "MZ6ZoomZoom"
Quote:
Originally Posted by "Ghoulish Delight"
Generally, insurance companies look at your 3 year driving history.
5 yr, these days. But that's also the US, not Canada.
Until a couple weeks ago, I was an agent for a major insurance provider in the US, and they look at 3 years. But it is good to note that every company has their own methods. You'll have to ask your specific insurer. But it's highly unlikely that it would be anything less than 3 years.

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post #5 of 12 (permalink) Old 08-09-2004, 01:58 PM
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Anybody here know how car insurance works?

i would pay it out by cash and not get insurance involved. I think its 3 years for tickets etc. but 7 years for at-fault accidents.

I got into an accident in 2001 (by myself on a slippery road) and because of that I pay around $1000-$1200 more a year.

Also if he as a couple tickets, you dont want the insurance company to decide to stop insuring your brother. They have the right to refuse insuring you and whats messed is insurers ask if you have ever been refused insurance on the applications.. I believe that is a big negative on getting a good rate.

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post #6 of 12 (permalink) Old 08-09-2004, 10:30 PM
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Anybody here know how car insurance works?

Why do you expect his rates to drop come October?

He's only 20, has a couple tickets and now an accident.
He's already paying $400 monthly.
I expect he would get drilled on rates if he claims it.

Only your agent can tell you how long it will last.
Of course, then you have to fess up.

Are you trying to determine what is cheaper, claiming it (with higher resulting rates) or doing a silent fix?

I'm betting a silent fix is cheaper.
But, IMO, a lesson needs to be learned. Soon.

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post #7 of 12 (permalink) Old 08-09-2004, 11:02 PM
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Anybody here know how car insurance works?

Quote:
Originally Posted by "MN_MazdaGuy"
Only your agent can tell you how long it will last.
Of course, then you have to fess up.
A question is not an adminssion of guilt. But that's the most correct answer yet. Every company is different, so only contacting your agent will result in an accurate answer.

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post #8 of 12 (permalink) Old 08-09-2004, 11:48 PM
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Anybody here know how car insurance works?

No, it's not an admission of quilt.
But you'd be a foolish agent to not suspect something.
And perhaps foolish to act on a suspicion.

It's hard to ask an agent a hypothetical question regarding an incident. You either were, or were not, involved in an incident.

I'm not an agent. But wouldn't they wonder not only who's paying now, but who might pay later?

I repeat. It's honorable to help your siblings. But this isn't something I'd want to ask my agent. At least not when young and with tickets to my credit.

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post #9 of 12 (permalink) Old 08-09-2004, 11:53 PM Thread Starter
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Anybody here know how car insurance works?

Quote:
Originally Posted by "MN_MazdaGuy"
Why do you expect his rates to drop come October?
Everyones insurance in our age group is going to drop significantly due to a new government regulation that restricts insurance companies from stereotyping against young males. Of course his rates will not get the drop everyone else is about to experience because of this accident, the tickets he has are not serious, 2 minor speeding tickets, but of course this accident is really going to hurt.

Since I have a perfect driving record (so far), my insurance is going to drop from $430 a month down to about $100-150. I just dont want my brother to miss out on that if possible. Judging by everyones responses we are defenitely better off going under the table. Looks like no mods for a while

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post #10 of 12 (permalink) Old 08-10-2004, 12:09 AM
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Anybody here know how car insurance works?

Quote:
Originally Posted by "MN_MazdaGuy"

I'm not an agent. But wouldn't they wonder not only who's paying now, but who might pay later?
It's a simple question that gives away nothing. "If I make a claim against from my collisions coverage, how long would it affect the rate." There's no need to expalin that you were even involved in an incident, just looking for information. If pressed, you can simply say that you have some damage that may or may not exceed your deductible and was wondering what might happen if it does and you make a claim. None of this would require your agent to report anything, only provide you information.

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