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Do you claim minor damage on insurance or pay out of pocket?

Discussion in 'Business Fundamentals' started by theguynextdoor, Mar 2, 2016.

  1. theguynextdoor

    theguynextdoor Senior Member
    Messages: 308

    I've got some minor damage to the bed side of my 2015 truck. There are some dents I'm not sure about from the landscaping season and a big new scratch and dents down the bed side from the rear end sliding sideways into a wall while plowing. I've gotten a few estimates, all around $2100.00 to repair, repaint, etc. I'm afraid if I claim this on insurance, I will risk my rates going up. On the other hand, it is a lot of money, but I have to fix the truck, considering it's only a year old.

    What do you guys do for these types of damages to your equipment or properties? Obviously damage below your deductible is paid out of pocket, but what about these mid range costs? I hate to take the claim on my insurance when there is always the possibility of a major accident in the future that could cost 10,000 - 1,000,000.
  2. Mark Oomkes

    Mark Oomkes PlowSite Fanatic
    Messages: 13,249

    Unless it was from an accident that caused damage to another vehicle or structure it isn't covered by my policy.
  3. iceyman

    iceyman 2000 Club Member
    Messages: 2,925

    Pay out of pocket for that small Of an amount
  4. allagashpm

    allagashpm Senior Member
    Messages: 797

    I would pay it out of pocket. But I also probably wouldn't fix it. Odds are pretty good you'll damage it again this summer or winter if it's a work truck.
  5. Philbilly2

    Philbilly2 PlowSite Veteran
    Messages: 3,770

    All depends on your view of what is minor.

    I would personally choose to keep things off of insurance to keep your mod factor as low a possible.

    On the other hand, that is also what you have insurance for.
  6. Ben/Insurance

    Ben/Insurance Sponsor
    Messages: 166

    the guy next door, the insurance company may take two deductibles on this as it sounds like a few incidents are involved here. It's a per occurrence deductible. I would probably recommend that you pay out of pocket if no other party involved and no injuries.
  7. jhenderson9196

    jhenderson9196 Senior Member
    Messages: 615

    I would pay out of pocket and get everything fixed. I've found once you let the little things go, it all goes to pot pretty quickly.
  8. sebass

    sebass Junior Member
    Messages: 14

    If you can afford it definitely do it out of pocket. Insurance is a giant scam. Obviously you gotta have it but keep them out of it if ya can.

    There is a reason why 95% of the plow trucks you see have dents in em.
  9. peteo1

    peteo1 PlowSite.com Addict
    Messages: 1,660

    Are you serious about the two deductibles? If my insurance company told me that I'd get a new insurer
  10. leigh

    leigh 2000 Club Member
    from CT
    Messages: 2,342

    Do what I did.I lived with two dents to bed.Icy morning a women driver hit me in exact same spot,2200$.Still haven't fixed lol.(putting money toward a alum flatbed) A couple months later my wife gets hit,gets 100$ for a headache and 2000$ for rear end damage that was not even visible.Now I know how scammers get started ! Thinking about a switch that turns brake lights off...hmmmmm
    Last edited: Mar 4, 2016
  11. jhenderson9196

    jhenderson9196 Senior Member
    Messages: 615

    Better start looking. Per occurrance just like the limits on your GL.
    Last edited: Mar 4, 2016