Getting into a fender bender probably isn’t going to have a huge impact on your life, but there will be a few expenses that you might need to cover. If you don’t plan ahead and take steps to protect your driving record, then you could face hefty fines, fees from the DMV, and an increase in your insurance premiums.
Even if you have excellent insurance, the repairs will still most likely cost you a little bit of money. At the very least, you will need to pay the deductible before your insurance kicks in. Many people prefer higher deductibles so that their monthly premiums remain low, but that could end up being a mistake if you get into more than a few fender benders over the years.
Whenever you cause an accident, your insurance rates are almost always going to climb. While your premiums should drop after a few years, you can expect some type of increase for at least a short period of time. Depending on the severity of the accident, the premiums could increase by thousands of dollars a year. If you didn’t cause the accident and the other party’s insurance refuses to cover your expenses, then you need to contact an automobile accident attorney to explore your legal options and reduce your chances of raised premiums.
Loss of Transportation
While your vehicle is being repaired, you are going to need to rent a vehicle or find some other form of transformation. Unfortunately, vehicle rentals aren’t always covered by insurance policies, and that single expense could easily end up costing you thousands. You also have the option of borrowing a vehicle or using public transportation, but those options can be problematic as well.
Many drivers immediately contact the local police when they are in an accident so that an officer can file a report. When the officer arrives, they can issue a ticket if there is sound evidence that a law was broken, and most moving violations put multiple puts on your driving record. By the end of the ordeal, a single ticket might end up costing you thousands of dollars in fines, fees, and increased insurance premiums.
You should always report an accident if anyone was injured or the damage is extensive, but you might not want to file a report for a relatively minor fender bender. Taking care of smaller scratches and dents on your own could save you quite a bit of money, and you don’t have to file a claim in most states if there is less than $500 worth of damage.