Originally Posted By: JTK
I know I wouldn't carry collision on it.
Why would you ever file an insurance claim on a car that's worth $1700 on a good day? All it's going to do is risk raising your rates more so than normal.
Maybe I'm missing something, but the statement in regards to the $50 deductible above. How does that save you money? Lower deductible always meant a higher premium for me.
BINGO.
Not worth it, you will pay back in premiums more than the damages were. I remember a guy who filed a claim on his car that got scratched on the roof by a snow shovel. Had the roof repainted. I honestly had a hard time even seeing the scratches from the pictures in his claim file. After I submitted the claim and everything was fixed, about a month later he called wondering why his rates increased.
As a general rule I tell people anytime they use their insurance expect the rates to go up, if not small increases elsewhere. Using your company's staff/services costs them money in their eyes. Even in cases where you file a claim through your insurance company and have them go after the other person's insurance for damages. Your company still has a record of you submitting a claim and using their services, even if it was one they got reimbursed for. They factor all of this into their risk predictions. If they see you as any kind of risk to their profits, they adjust your rates accordingly. This information about you is also shared with other insurance companies, so if you drop your current company because the rates are high, the next one you try to pick up already knows about you. Your rates might be cheaper for the first year with the new company (that's how they bring you in), but they will slowly increase or you will start finding hidden fees.
There is a reason many of the insurance companies made billions in profits this year, and it isn't because they paid out a lot in damages.