- Feb 16, 2004
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I had my first car accident. I am at fault, luckily I did not embarass myself by being one of those idiots who tries to drift his car then crashes horribly. It was just an honest mistake at a a stop sign which happens to have the unfortunate side effect of costing me a huge amount of money.
Anyway I'm now faced with the decision as to pay off the damages of the other car through my insurance company, and essentially negate the accident's effect on my premiums, or let it destroy my already high insurance premiums. The adjuster suggested I repay the damages, and I am considering it. Being a student a $2500.00 lump sum payment is difficult to swallow. I could manage it however, I just don't want to. Apparently I stand to lose an extra $1500.00 in the inflated premiums I will have to pay until they go back down to what they were before the accident, and even more because of the fact that had I not had this accident, the premiums would continue to go down lower than what they were.
I guess I am asking ATOT what have you done in similar situations and why?
Anyway I'm now faced with the decision as to pay off the damages of the other car through my insurance company, and essentially negate the accident's effect on my premiums, or let it destroy my already high insurance premiums. The adjuster suggested I repay the damages, and I am considering it. Being a student a $2500.00 lump sum payment is difficult to swallow. I could manage it however, I just don't want to. Apparently I stand to lose an extra $1500.00 in the inflated premiums I will have to pay until they go back down to what they were before the accident, and even more because of the fact that had I not had this accident, the premiums would continue to go down lower than what they were.
I guess I am asking ATOT what have you done in similar situations and why?
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