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Insuring teenage drivers
The other family has been very considerate in waiting to get quotes for damage done to door before (if ever) involving the insurance companies. If the repair quote is something relatively 'unexpensive' <!>, then I feel we are probably better off paying it out-of-pocket rather than our insurance company paying it. By the way, no real damage to his car.
Am I using correct logic here?
Our only past experience with the insurance company is that the ONE claim we had with them (my husband backed into someone...) -- after being a customer for 15 years -- raised our premium! The claim was only for $900, the premium was raised $300 per year. I couldn't believe it, other than that one claim our driving records were impeccable....
So now I am so very leery of reporting teen's accident.... it's my understanding that since he wasn't really cited and will get no points against his license, that the insurance company would have no way of finding out.
I am thankful that his accident was minor and no one was hurt... and hopefully this will serve as a very valuable life lesson. But, I am trying to avoid it being a life lesson that will cost 1000s in additional premiums over the next years...