How Would You Pay for your Collision Deductible

[MonkeyMama]

Yeah - I'd pay it from savings. If I didn't have the savings I would keep a pretty low deductible probably. Thankfully I have never been in a position to choose from #1, 2, 3 or 4.

I actually had my car hit (hit & run in parking lot - that could be my middle name - though in many instances people left their info and manned up) and it was just a blemish and of course $1k to fix. In that case I didn't bother fixing it! But I would be wary to answer #3 if the integrity of the car was compromised by the colission. In that case #3 would not be an option I would choose.

As much as my car(s) have been hit I would be wary to bother spending the money to fix a blemish anyway. It's kind of futile given my track record.

[maat55]

Originally Posted by MonkeyMama

Yeah - I'd pay it from savings. If I didn't have the savings I would keep a pretty low deductible probably. Thankfully I have never been in a position to choose from #1, 2, 3 or 4.

I actually had my car hit (hit & run in parking lot - that could be my middle name - though in many instances people left their info and manned up) and it was just a blemish and of course $1k to fix. In that case I didn't bother fixing it! But I would be wary to answer #3 if the integrity of the car was compromised by the colission. In that case #3 would not be an option I would choose.

As much as my car(s) have been hit I would be wary to bother spending the money to fix a blemish anyway. It's kind of futile given my track record.

My truck has a small dent in the rear that was left in a parking lot. I just got some touchup paint and covered it. It does not bother me either.

[LivingAlmostLarge]

Charge it. I could not ask family for money. Assuming that the person in the scenario even HAD family to ask for money.

I've found people bad with money usually learned it somewhere.

[maat55]

Originally Posted by LivingAlmostLarge

Charge it. I could not ask family for money. Assuming that the person in the scenario even HAD family to ask for money.

I've found people bad with money usually learned it somewhere.

I feel the same way. IMO, asking help from family is like admitting failure. I know many will disagree, but it is my personal standard to avoid it. That leads me to do what it takes, too avoid it.

[swanson719]

Pretty certain an adjuster padding an estimate is insurance fraud. Regardless, we have our emergency fund exactly for those unexpected expenses.

[LivingAlmostLarge]

True maat, but I notice bad habit started somewhere. And if you ask family for money, and they are bad with money. All they'll end up doing is a cash advance anyway. So cut out the family involvement.

And if your family is good with money, then why isn't the person?

[maat55]

Originally Posted by LivingAlmostLarge

True maat, but I notice bad habit started somewhere. And if you ask family for money, and they are bad with money. All they'll end up doing is a cash advance anyway. So cut out the family involvement.

And if your family is good with money, then why isn't the person?

You are right, many with bad habits learn them at home. I came from a poor family with poor financial skills. I learned to fear CC debt from watching my dad suffer from it, but I still did not learn the skills I have until late in life.

I'm fortunate that I never had to borrow from family. I've been blessed with a good work ethic and occupation. I give credit to people like DR and Suzie for reaching those who need the knowledge.

[adam_c]

Originally Posted by disneysteve

Are you saying the adjuster based his estimate purely on your word and that he padded that estimate by $1,000? Did the adjuster examine the car? Did he require a written estimate from the body shop? What if you had told him the repairs would be $3,500? Would he have made the claim for $4,500?

He did examine the car. He wrote his own repair estimate using whatever estimating program they use. It was jibberish to me. My point in posting the story is that you would be surprised how helpful a majority of insurance companies and adjusters can be.

Full disclosure; I am a property claims adjuster. I didn't know the adjuster who handled my claim, though.