I've been on the road for work all week.
I got a call last night from my wife telling me that our son was in a car accident. Thankfully, everyone was ok. It seems that while he was driving his friend home, they realized they'd forgotten something. Rather than pull into a driveway to turn around, he pulled a U-turn in the middle of the (residential) street.
T-bone city.
Initial estimates put the damage at $9,300.00 (CAD). For a Volkswagen Golf, this is about 1/2 the value of the car. We're insured and all that - insurance for three cars and four drivers (our other son drives too) runs about $10,000.00 per year.
So here's the dilemma - do we put through an at-fault claim (and watch our premium skyrocket), or do we just pay out the $9,300? I'll be looking into the economics of both, but I have this sneaking suspicion it's going to be cheaper in the long run just to chew the 9,300.
"Insurance" is such a scam.
I got a call last night from my wife telling me that our son was in a car accident. Thankfully, everyone was ok. It seems that while he was driving his friend home, they realized they'd forgotten something. Rather than pull into a driveway to turn around, he pulled a U-turn in the middle of the (residential) street.
T-bone city.
Initial estimates put the damage at $9,300.00 (CAD). For a Volkswagen Golf, this is about 1/2 the value of the car. We're insured and all that - insurance for three cars and four drivers (our other son drives too) runs about $10,000.00 per year.
So here's the dilemma - do we put through an at-fault claim (and watch our premium skyrocket), or do we just pay out the $9,300? I'll be looking into the economics of both, but I have this sneaking suspicion it's going to be cheaper in the long run just to chew the 9,300.
"Insurance" is such a scam.
posted by Somnambulist57 at
9:32 AM
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