Pay out of Pocket for Accidents?

[nona9]

What is the name of your state? Arizona

I was Recently invovled in an accident and was found at fault. I offered to pay out of pocket after an estimate was taken to prevent a premium increase and to avoid it going on my record.
The other person's father involved wanted an outrageous amount of money and was not willing to settle for just the damages. I went ahead and called in the claim on my insurance and advised I would like to pay out of pocket after the estimate is taken. I wanted to make sure my premuim didn't increase and was aware that the incident would stay on my record. My insurance company didn't really have a policy on paying out of pocket. The insurance company stated even if I paid out of pocket for all the damages and the incident stayed on my record, I would still have to pay for an increase on my insurance. The incident is the only thing on my record. Other then the accident I would have a clean record..
What I'm wondering is, can the insurance company still increase my premuim if I pay out of pocket for the damages and they pay nothing, yet the accident stays on my record. Is there any law or policy on this issue?

 

[I AM ALWAYS LIABLE]

What is the name of your state? Arizona

I was Recently invovled in an accident and was found at fault. I offered to pay out of pocket after an estimate was taken to prevent a premium increase and to avoid it going on my record.
The other person's father involved wanted an outrageous amount of money and was not willing to settle for just the damages. I went ahead and called in the claim on my insurance and advised I would like to pay out of pocket after the estimate is taken. I wanted to make sure my premuim didn't increase and was aware that the incident would stay on my record. My insurance company didn't really have a policy on paying out of pocket. The insurance company stated even if I paid out of pocket for all the damages and the incident stayed on my record, I would still have to pay for an increase on my insurance. The incident is the only thing on my record. Other then the accident I would have a clean record..
What I'm wondering is, can the insurance company still increase my premuim if I pay out of pocket for the damages and they pay nothing, yet the accident stays on my record. Is there any law or policy on this issue?

My response:

Whether you pay "out of pocket" is not the point. Since the accident was reported to your insurance company, they use a "risk factor" analysis in determining rates and increases in those rates.

Your "risk factor" went up - - and no matter who pays for the damages (you or the insurance company) you're still a greater "risk" to insure. Ergo, your rates are going up.

IAAL

 

[nona9]

Thanks for your help ,I guess i'm going to start shoping around for a cheaper INS. Co.

 

[bijou-MP5]

Thanks for your help ,I guess i'm going to start shoping around for a cheaper INS. Co.

don't look for cheaper insu comp. their process will be slow, give all kinds of excuses, pay small amout of labor(fixing), all different kinds of reason.
sometimes big company will rip you off, but they care of things fast and reliable.
your premium will not increase that much.
just a thought.

 

[nona9]

estimate

thank you for the response,

I will wait to see what the estimate will come out to be on the ins claim today and hopefully with this being the only thing on my record it won't increase alot. I do know it will be an increase estimated about 30 percent more . thanks Again