How does progressive, contained by Cincinnati, handle the insurance claim (on hit and run incident within a privaparking lo?
Will my premium go up if the other car isn't identified? I do enjoy a comprehensive coverage on my car.
Answers:
Instead of getting peoples guesses.....Call them.
Comprehensive coverage would not cover this. That coverage is for things resembling animal hits, hail, theft, falling objects, etc. Unless your sports car was hit by a deer or hail, it would be collision. The best instrument to get the correct information is by calling the Policy Services or Underwriting department with your insurance company. In most cases, premiums are raise more because of having an "at fault" accident. But they also are looking to find back the money that was compensated out under your policies. So it's hard to know if/how much your premiums would dance up. Either way, you shouldn't/won't be found at fault for an fluke where your car be parked and unoccupied.
You could go to a body shop and ask them to write you an estimate. If it's much more than $500, I would recommend reporting it b/c keep surrounded by mind, it's only an ESTIMATE. It could go up once they obtain the vehicle torn-down and get a better look at the damage. Technically per your policy, you're required to report the claim to your insurance company. And this is why we own insurance so we don't have to pay for things similar to this out of pocket. You're already paying premiums for the coverage, why not use it? Hope this helps.
Best thing to do is draw from an appraisal of damages. Since you have a $500 deductible (anyway), if the damage is one and only $8OO-900, you'd be better off to pay for the repairs yourself - and say your "claim free:" status.
In some States, Progressive has a "diminishing deductible" and THAT would also change if you made a claim.
Does your State extend Uninsured Motorist coverage? Sometimes that coverage has a $250 deductible which might be worth looking into.
Someone stated that comprehensive coverage is what would cover your loss, and that is in recent times plain WRONG. In fact, some companies have started calling Comprehensive coverage, OTHER THAN COLLISION (OTC) to minister to with the proper determination.
Good luck with your conclusion and I hope this helps! Source(s): Independent insurance agent for 28+ years (contracted with Progressive)
You say you would be of a mind to pay $700.00 to $800.00 to pay for the repairs yourself. Why even own insurance if you want to be self insured? surely any increase won't be a total of $200.00 to $300.00 ? Don't be penny wise and pound foolish. If you have insurance use it. if you don't use it, drop it and become self insured. BTW. Comprehensive claims are not surcharged and sometimes (not always) collision claims can be surcharged. Your claim here would be covered lower than collision and NOT under comprehensive.
Comprehensive isn't going to get it for you. You have need of collision coverage as that is what your claim is. You probably have collision. Since your collision be a hit and run and that vehicle cannot be found, your company will respond to your claim subject to whatever collision deductible you have. Your premium may be in motion up if your company does not practice accident forgiveness.
Actually, in the baggage of a hit and run on a private parking lot, your comprehensive coverage is what will cover your damage.
Collision coverage is used when you're involved in an stroke of luck. Comprehensive is used when something happens through no fault of your own that damages your coup¨¦.
Progressive will send out an adjuster who will determine the amount of the damage. After they investigate the circumstances of the overexploit, they will pay out the adjuster's assignment of damage amount - smaller number any deductable amount you have.
Depending on your type of policy and how long you've been near Progressive, as well as your claims history, you may or may not see a premium increase beginning next to your next six-month policy term.
-Stuart Source(s): While the "agent" below have this interesting view of what parts of a policy pay out, you'd be interested to know that if you hit a deer surrounded by the road, the damage to your car is covered underneath your comprehensive policy, whereas if you swerve to avoid the deer and wreck the car, your collision policy covers the damage. In other words, as I said above, "...Collision coverage is used when you're involved contained by an accident. Comprehensive is used when something happens through no show disapproval of your own that damages your car..."
Related Questions:
Answers:
Instead of getting peoples guesses.....Call them.
Comprehensive coverage would not cover this. That coverage is for things resembling animal hits, hail, theft, falling objects, etc. Unless your sports car was hit by a deer or hail, it would be collision. The best instrument to get the correct information is by calling the Policy Services or Underwriting department with your insurance company. In most cases, premiums are raise more because of having an "at fault" accident. But they also are looking to find back the money that was compensated out under your policies. So it's hard to know if/how much your premiums would dance up. Either way, you shouldn't/won't be found at fault for an fluke where your car be parked and unoccupied.
You could go to a body shop and ask them to write you an estimate. If it's much more than $500, I would recommend reporting it b/c keep surrounded by mind, it's only an ESTIMATE. It could go up once they obtain the vehicle torn-down and get a better look at the damage. Technically per your policy, you're required to report the claim to your insurance company. And this is why we own insurance so we don't have to pay for things similar to this out of pocket. You're already paying premiums for the coverage, why not use it? Hope this helps.
Best thing to do is draw from an appraisal of damages. Since you have a $500 deductible (anyway), if the damage is one and only $8OO-900, you'd be better off to pay for the repairs yourself - and say your "claim free:" status.
In some States, Progressive has a "diminishing deductible" and THAT would also change if you made a claim.
Does your State extend Uninsured Motorist coverage? Sometimes that coverage has a $250 deductible which might be worth looking into.
Someone stated that comprehensive coverage is what would cover your loss, and that is in recent times plain WRONG. In fact, some companies have started calling Comprehensive coverage, OTHER THAN COLLISION (OTC) to minister to with the proper determination.
Good luck with your conclusion and I hope this helps! Source(s): Independent insurance agent for 28+ years (contracted with Progressive)
You say you would be of a mind to pay $700.00 to $800.00 to pay for the repairs yourself. Why even own insurance if you want to be self insured? surely any increase won't be a total of $200.00 to $300.00 ? Don't be penny wise and pound foolish. If you have insurance use it. if you don't use it, drop it and become self insured. BTW. Comprehensive claims are not surcharged and sometimes (not always) collision claims can be surcharged. Your claim here would be covered lower than collision and NOT under comprehensive.
Comprehensive isn't going to get it for you. You have need of collision coverage as that is what your claim is. You probably have collision. Since your collision be a hit and run and that vehicle cannot be found, your company will respond to your claim subject to whatever collision deductible you have. Your premium may be in motion up if your company does not practice accident forgiveness.
Actually, in the baggage of a hit and run on a private parking lot, your comprehensive coverage is what will cover your damage.
Collision coverage is used when you're involved in an stroke of luck. Comprehensive is used when something happens through no fault of your own that damages your coup¨¦.
Progressive will send out an adjuster who will determine the amount of the damage. After they investigate the circumstances of the overexploit, they will pay out the adjuster's assignment of damage amount - smaller number any deductable amount you have.
Depending on your type of policy and how long you've been near Progressive, as well as your claims history, you may or may not see a premium increase beginning next to your next six-month policy term.
-Stuart Source(s): While the "agent" below have this interesting view of what parts of a policy pay out, you'd be interested to know that if you hit a deer surrounded by the road, the damage to your car is covered underneath your comprehensive policy, whereas if you swerve to avoid the deer and wreck the car, your collision policy covers the damage. In other words, as I said above, "...Collision coverage is used when you're involved contained by an accident. Comprehensive is used when something happens through no show disapproval of your own that damages your car..."
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