Paying for the damage yourself can sometimes be advantageous. Especially with minor damage, it is worth bearing the costs yourself and not calling in the insurance company. This will prevent you from deteriorating in claim-free years and preserve your discount (no-claim discount) on the premium. But when can this matter?
Car damage, to claim or not to claim?
An accident is in a small corner. A moment of inattention and the damage is done. There does not even have to be major accident damage to be balking at damage done. Whatever happens, it is always to be hoped that no harm has been done to people. This is the first priority that needs attention, everything else can be taken care of. Either through insurance or by paying for the damage yourself.
To clarify whether it is worth paying for the damage yourself, it is wise to contact your insurer first in case of a claim. The insurer can calculate what effect claiming the damage will have on your claim-free years (and thus premium) and whether it is worth paying the damage yourself or billing via the insurer. If you report a claim, you can assume it will cost you around 5 claim-free years. This can have a big impact on your monthly premium.
Impact on insurance premium
Want to know what claiming the damage has on your insurance premium? On the website or in the policy you received from the insurance company, you can often find a table showing the premiums and discounts. Be well informed by your insurer. Of course, there are differences between insurers, so a general calculation is not possible. To give an example, let us take the following (small) claim:
You have sustained minor damage while parking. After visiting the garage, it turns out that it will cost 250.00 to have this repaired, is it smart to claim this on your all-risk insurance?
You have already accumulated quite a few claim-free years and you get 75% discount on your premium. This amounts to €52 per month, or €624 per year. If you claim the damage, you go back 5 claim-free years and so your discount will be reduced. You will now not get a 75% but only 62.50% discount, this makes the monthly premium go up to € 78 per month, or € 936 per year. That's an increase of €312 in the first year, so as you can see, that's more than if you pay the €250 claim yourself. So in this case, it is not wise to submit the claim to your insurer but pay it out of pocket.
This is a simple calculation example, but broadly indicates the importance of properly assessing the impact of a claim.
Own risk?
Also take into account the deductible. In some cases, the full costs will be reimbursed but there may also be a deductible which of course makes the calculation different. So check first whether there is a deductible and if so, how high it is before submitting a claim to your insurer.
Later still decide to pay for the damage yourself? Reverse the claim
Did you claim the damage with the insurer but later want to reverse it? This is because the costs were lower than you expected, for example, or because the claim had a big impact on your premium after all? This is possible. You can then contact your insurer and retrospectively take over the costs. To do this, contact your insurer and make sure you repay the compensation you received to the insurer again.
So, when do claim damages from the insurer?
Roughly speaking, it is best to claim the car damage from your insurer as soon as:
- the damage caused is not your fault
- the cost of the repair is so high that you cannot (or do not want to) pay for it yourself
- you have a large number of claim-free years, and that the effect on the discount is minimal
- if you have taken out no-claims protection. With a no-claim-protector, it is possible to claim one claim with the car insurance policy per policy year while keeping the premium discount.
And it's best to pay for the damage yourself when:
- the costs are on the low side and you are perfectly capable of paying for this yourself
- the repair costs are as high as the excess
- where the cost of repair is less than the increase in premium if you did claim the damage
How much will the repair cost?
Of course, it is important to first determine what the cost will be. Whether you have sustained damage at the local Albert Heijn and want to know what the cost for can damage are, or have you just returned from a holiday at Lake Garda and are looking for repair costs for hail damage repair? It is important to know how much you will spend on repairing the damage before you can make an informed decision. Remember to first check which garages are affiliated with your insurer. You can ask the garage or call your insurer to avoid surprises.
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