Whether or not you file an insurance claim can depend on many factors. It is always best to file a claim if there is a third party involved, or if there may be injuries; this could protect you down the road.
A few things you may want to consider when deciding whether to file a claim:
The extent of the damage – if the damage is only to your vehicle, and you can repair the damage without significant cost, it may not be worth filing a claim if the cost is below or near your deductible. Claims may cause your insurance rates to increase on renewal. Of course, if the damage is significant, or involves someone else’s vehicle, filing a claim may be necessary.
Your coverage – if you do not have physical damage coverage (collision and/or comprehensive coverages) on your insurance policy, damages to your vehicle may not be covered. For example, damages to your vehicle resulting from an accident you’re deemed “at fault” for would only be covered if you have collision coverage on your policy, and damages to your vehicle resulting from fire, theft, vandalism, impact with an animal, or windshield damage, would only be covered if you have comprehensive coverage on your policy.
Ultimately, the decision to file an insurance claim is a personal one that depends on your individual circumstances. Be sure to weigh the costs and benefits carefully and consult with your insurance broker if you have any questions or concerns. Don’t be afraid to spread your wings and take the necessary steps to protect yourself and your property.