When Should You File a Claim?
After a minor fender-bender, the instinct is to call your insurer — but that may not be the cheapest option. If the repair bill is smaller than the extra premiums you'd pay over the surcharge period, paying out of pocket keeps more money in your pocket long-term.
Enter the repair estimate, your current annual premium, the rate increase percentage your insurer quotes, and how many years the surcharge lasts. The calculator shows the break-even comparison instantly and tells you which option saves more money.
Frequently Asked Questions
When using collision coverage, you pay the deductible first. If the repair costs less than your deductible, filing a claim makes no financial sense at all — pay out of pocket and skip the rate increase entirely.
If you have accident forgiveness, your first claim may not raise rates at all. Check your policy before deciding — this calculator assumes a standard surcharge applies.
Liability claims (damage to the other party) can also trigger surcharges. The same logic applies — compare the claim benefit to the long-term premium increase.