How much does insurance generally cover in a minor accident?

How much does insurance generally cover in a minor accident?

I was backing out of a parking lot space and I backed into a newer Lexus! This was my first accident and I am 18 years old! The damage was kind of minor and the estimate came out to $568.00*we didnt call 911How much will my insurance cover?P.S.I have state farm auto insurance

foxychic

When you say that the estimate came out to $568.... is that estimate for your vehicle or the Lexus?-Add: ok you have your options. If the other people were pretty nice (and it sounds that they are pretty nice since they didnt call 911) you can try to settle it out of pocket if they agree upon that. If NOT then you can put the claim into state farm and they will pay to fix the other person's car (it will be more than likely be your fault since you backed into them). By the way you dont have to pay your deductible if you are not getting your car fixed (or you dont have collision). If the damage is $568 and there is no other property damage this claim should not put an accident surcharge on your policy (meaning your premium should not increase just for the accident being paid out.... BUT you could lose discounts.... for example if you have the steer clear discount with state farm that discount is only good as long as you are ticket and accident free- so your premium would increase because you lost that discount).So.... weigh your options. Depends on what discounts you have on your policy since you are 18.CALL YOUR AGENT and discuss your options with them. Tell them to PLEASE NOT ENTER the claim in until you decide what you want to do.Keep in mind that if you report this claim to State Farm it WILL be reported as a loss and if you try to switch insurance companies it WILL count as a loss and COULD possibly effect your premium or eligibility with another company!CALL YOUR AGENT and discuss everything with them... but ask them to please NOT enter the claim in until you call them back and tell them to do so.Source(s):Resident Producer of Property, Casualty and Allied Lines Insurance in PA

FLFB

Your insurance will cover up to the amount shown on the declarations page.For property damage the limit is usually $20K and up, depending on your states minimum protection laws.If state farm finds you 100% at fault, they will pay 100% of the cost of repairs to the other party.*Edit* The deductible only applies to 1st party claims, meaning repairing your own vehicle.You do not have to pay a deductible for the other person's damagesSource(s):Claims adj 5+yrs

Iyana

There are lots of people having the same question like you and yours is just another one. Basically speaking about car insuranceperson's car may cost you money out-of-pocket if you don't have sufficient coverage and your car insurance rate may go up.

mbrcatz

Assuming your policy is in force, and you are a listed driver, look at the "damage to other people's property" limit. Your policy will pay up to that limit, for damage you do to other people's property - including the rental car coverage while that car is in the shop for repairs.Source(s):agent, 21+ years

tony

That's prob your deductible, I wouldn't call ins guy till you find out. IF they find out you been in an accident they will charge more than that in increased rates. I'd pay the $575 even if you had zero deductible and not tell your insurance people. Assuming you didn't get a ticket which you probably didn't since it was private property.

mrsdeli

Depends on your deductible. If the deductible is $1000 they won't pay anything, if the deductible is $500 they will cover $68. Check your policy.

badbill1941

Call your agent to find out what kind of policy you have.

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