How much do insurance premiums go up after a claim? | GTAMotorcycle.com

How much do insurance premiums go up after a claim?

shakalaka

shakalaka

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Hey guys, a grey Honda Accord just hit my parked bike(2014 Street Triple R) and then ran off, so I didn't get plates. There's pretty serious damage on the right(lever broken, mirror broken, handlebar broken, pedal broken, a bunch of plastics...). Is it worth fixing myself or should I claim it, and how much would I expect my premiums to go up as a result? Damage should be close to $2k so I'm really on the fence about it. Has anyone went through that process that can comment?
 
Sorry to hear. Check for cameras in the area. Without some proof, this goes under collision. By the time you pay your deductible (probably $1000), I would either pay for the rest myself or not fully fix it. If insurance is only throwing in 1000, almost any increase will wipe out the benefit as the hit last for a few years. Get a quote to find out what the real repair numbers are and it will help you make an informed decision.
 
PLau said:
Joined a month ago, and already complaining about what post goes in which section..
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Didn't know account seniority limits what I can post!

Sorry master.

EDIT: There is also a difference between complaining and trying to get a post in the correct section where he can probably get better responses
 
Without proof they may assign blame to you; that's the sort of damage that happens in a low-side too. If you make a claim without proof it was someone else and blame is ascribed to you prepare to be reamed without lube...
 
AES said:
They probably drove off to the correct section:

http://www.gtamotorcycle.com/vbforum/forumdisplay.php?28-Insurance
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Why did you even feel the need to post this... OP just got his bike wrecked in a hit and run and you thought the first comment should be some snotty sarcastic remark about posting in the wrong thread. Lame.

Sorry to hear about that OP. Try pricing out what the damage will be to replace all the big parts (handlebar, mirror, etc). This could be a good time to upgrade some of your oem parts that got damaged if you would like. The way insurance is here, your premium could skyrocket. Makes me wonder whats the point of even paying for insurance if half the time its not even worth it to claim anything.
 
AES said:
Sorry master.
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You are forgiven.

Paulee said:
Sorry to hear about that OP. Try pricing out what the damage will be to replace all the big parts (handlebar, mirror, etc). This could be a good time to upgrade some of your oem parts that got damaged if you would like. The way insurance is here, your premium could skyrocket. Makes me wonder whats the point of even paying for insurance if half the time its not even worth it to claim anything.
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1. Because we're required to.
2. It's meant more for higher valued items (including one's self)
 
Blackfin said:
Without proof they may assign blame to you; that's the sort of damage that happens in a low-side too. If you make a claim without proof it was someone else and blame is ascribed to you prepare to be reamed without lube...
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I would assume a low-side would have distinguishable damage on plastics from sliding, so OP may be able to argue that. Though I am sure insurance will do whatever they can to avoid the claim.
 
My deductible is $500, but if my insurance goes up by $500 a year for the next 10 years then I guess I need to suck it up. Just the bent exhaust is $800, plus it might hurt resale value when I have scratches on fork and even rear peg. Has anyone here actually made a claim before, how were your premiums affected going forward?
 
Also, I have witnesses that would be able to corroborate the hit and run. Would the insurance company care at all?
 
shakalaka said:
My deductible is $500, but if my insurance goes up by $500 a year for the next 10 years then I guess I need to suck it up. Just the bent exhaust is $800, plus it might hurt resale value when I have scratches on fork and even rear peg. Has anyone here actually made a claim before, how were your premiums affected going forward?
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Here are some I found from 2010 for reference. Person B has something wrong, it doesn't just magically decrease at the end of some period of time. Each year it hurts a little less until you are back to normal (IIRC over 5 years or so).

Person A
Age 41, Male, driver>23yrs
Only 1 at-fault accident May 2009.
Increase in Johnson insurance from last year (renewal July 2010) from $1925 to $2517 (2000 Civic)

Person B
FWIW, when my wife had an at-fault single car accident (many years ago), it was our one and only one, the total repair cost may have been $4000 and our insurance went up close to $1000/yr for the next 6 years. Clearly in hindsight we should have simply paid the repairs out of pocket.
 
I guess it would matter how credible the witnesses are. I am assuming a police report stating it was a H&R would help as well.
 
shakalaka said:
Also, I have witnesses that would be able to corroborate the hit and run. Would the insurance company care at all?
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Did you buy insurance through a broker? Most are on your side and would be happy to answer questions (and provide answers that pertain to your policy and company and not just generic internet answers). If you bought direct, you could try calling anonymously and see what information you can get, but I suspect they won't tell you much without a policy number.
 
Same exact thing happened to me. Parked on the street downtown,i come back and the bike is on the ground with some nasty damage and no note/record.
I got lucky that a cop was walking by and i asked him to take a look and took a bunch of picture of the bike with the cop in.
There were no cameras around and obviously no police report because they dont really care.
Contacted my insurance and told them what happened and sent those pictures with the cop in it (for safe measure but is nothing offocial of course).
After a few emails back n forth they paid for the damages and premium did NOT go up.
As long as you can assure them somehow that you didnt dump your already damaged bike on purpose to get insurance to fix it by claiming someone hit you and ran off, you should be fine and your premium shouldn't go up.
Im with Allstate if anyone is wondering btw.
So dont panic, you should be ok.
and sorry to hear about your bike. It sucks, i know.
 
A police report substantiating it was a hit and run is ESSENTIAL if you're going to claim it. Without that you are going to get nailed.

People have done H&R's on my wifes car twice in the last 10 years. Both times we called the police before even moving the car, took photos, and asked for some witneses (to the effect that we were there and to observe the damage) just as backup.

Police showed, issued a report number, and we drove away and filed a claim.

Yes, if there's nobody else (hit and run afterall) to absorb the fault, you DO pay your deductible, but the claim should otherwise not be held against you - in both our scenarios it made zero difference to our rates.

Unfortunately as you've already presumably ridden the bike home and left the scene, getting a police report could be harder now, and witnesses impossible..so I would certainly try to find some video evidence if possible. You could also just go to a collision reporting center and report there.

Good luck. Hit and runs suck ***.
 
Well this happened just outside my work and a guy the floor above me took a pic of the laid down bike and I'm sure I could get him to confirm that it was an accident.

Also, I think TD has forgiveness on first claim so I may be good after all!
 
shakalaka said:
Well this happened just outside my work and a guy the floor above me took a pic of the laid down bike and I'm sure I could get him to confirm that it was an accident.

Also, I think TD has forgiveness on first claim so I may be good after all!
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No deductible when using forgiveness either. I'd rather pay the $500 and not use up forgiveness though if you can do it the way it worked for PP
 
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You shouldn't need to consume a forgiveness - save those for at-fault accidents. Again, done right, this should not effect your premiums/record whatsoever - a hit and run is considered a not at fault claim. A genuine at-fault WILL effect it, so you want to keep any forgiveness for that, if needed.

Both my wife and I have forgiveness on our policies and they were not consumed for her hit and run claims.

If your buddy has a photo of the bike on it's side then I would get out to a colission reporting centre ASAP - hopefully the delay won't negatively effect things, it may be too late to go tonight.
 
Well I don't think I'll ever be in an at fault accident so if this one is tough to prove then I'd rather use it, but obviously I'll try not to. Also, what is the process here? I take it to my mechanic and he gives them an estimate on how much it will cost to fix? I'd prefer to fix it myself so the bike isn't stuck in a shop for a month till every single part is delivered and fixed.
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