Question about Carfax & Insurance - what would you do?

[djhartm]

Hi folks, I hit a turkey vulture the other day which resulted in very minor damage to my Type-R (headlight broken, and buff marks on the headlight trim).

I filed an insurance claim & have a $500 deductible. The repair estimate for all OEM parts is $1133.00

The bad news is that this will now show up on my Carfax.

Even if I cancel the claim and it shows $0, it will be on the CLUE\Carfax.

I'm kind of screwed each way & wish I had thought a bit more before contacting my insurance company.

Q: Would you cancel the claim & pay out of pocket knowing there will still be something on Carfax, or let it roll, and simply show potential buyers the repair that shows the limited damage?

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[tinyman392]

Hi folks, I hit a turkey vulture the other day which resulted in very minor damage to my Type-R (headlight broken, and buff marks on the headlight trim).

I filed an insurance claim & have a $500 deductible. The repair estimate for all OEM parts is $1133.00

The bad news is that this will now show up on my Carfax.

Even if I cancel the claim and it shows $0, it will be on the CLUE\Carfax.

I'm kind of screwed each way & wish I had thought a bit more before contacting y insurance company.

Q: Would you cancel the claim & pay out of pocket knowing there will still be something on Carfax, or let it roll, and simply show potential buyers the repair that shows the limited damage?

This is what I get for being honest.

The answer to the question is up to you. Can you afford $1133 right now? How much will your rates go up if you do a formal claim and how long will they stay up?

 

[Zeffy94]

The value of my car hasn't dropped too drastically from having an accident on my Carfax. The loss of value is roughly in the 1.2k-1.7k range. If you can afford to pay out of pocket it's probably better in the long run due to the increased premiums following the claim, but it's up to you.

 

[19typer]

I had this exact issue with a car I traded in to buy the R and my accident was even more minor. The dealers all gave me such a. Hard time it probably isn’t worth it to file claim

 

[ayau]

I’d just pick up a used headlight and save yourself the insurance premium increase.

Are you sure this will still show up on the carfax report if you cancel the claim?

 

[tinyman392]

I’d just pick up a used headlight and save yourself the insurance premium increase.

Are you sure this will still show up on the carfax report if you cancel the claim?

Can the headlight be replaced without removing the bumper? If not I'd probably also add the grill to it as it's relatively cheap anyways and easily swapped while you have the bumper off. I do see some paint damage on the bumper. Not sure how much OP cares about that, though that could just be lighting.

 

[djhartm]

The answer to the question is up to you. Can you afford $1133 right now? How much will your rates go up if you do a formal claim and how long will they stay up?

Yes I can afford to pay out of pocket. My agent said animal strikes do not cause rates to increase. My main concern was the impact of the Carfax incident on resale value.

I’d just pick up a used headlight and save yourself the insurance premium increase.

Are you sure this will still show up on the carfax report if you cancel the claim?

My agent said animal strikes don't raise the premiums.

The adjuster is checking to see if I withdraw the claim, if it will still show up on Carfax.

 

[tinyman392]

Yes I can afford to pay out of pocket. My agent said animal strikes do not cause rates to increase. My main concern was the impact of the Carfax incident on resale value.

My agent said animal strikes don't raise the premiums.

The adjuster is checking to see if I withdraw the claim, if it will still show up on Carfax.

Accident will impact resell, though I’m not sure by how much unfortunately. If it’ll show up regardless, then I’d go through insurance.

 

[roflitzjinno]

It really doesn't matter what you do now. If it's on there, it's on there. Document the accident before and after pictures of the repair. Explain the situation to any future third party buyer if there is any and go from there. This is very minor in terms of an accident compared to frame damage, and or body panels being replaced.

As far as replacing the part, if it doesn't affect rates, why not go with it. That's the purpose of it right? But just insure they use OEM parts, or upgraded parts you want.

Me personally, if I'd buy a used one, this wouldn't bother me as long as all OEM parts are used on the repair of the car. For some it might bother people. What bother's me most is when it's not the original VIN on all the panels of the car. That's how I shopped for my S2000.

 

[ayau]

Yes I can afford to pay out of pocket. My agent said animal strikes do not cause rates to increase. My main concern was the impact of the Carfax incident on resale value.

My agent said animal strikes don't raise the premiums.

The adjuster is checking to see if I withdraw the claim, if it will still show up on Carfax.

Your insurance agent is probably just saying that based on his/her experience. Actuaries at the insurance companies are the ones that are actually doing the risk calculations.

Even if you aren't at fault in an accident, your rates may still go up because you're just at a higher risk profile than someone that has never been in an accident.

Basically when it comes to rates, nobody truly knows the answer except for the people doing the calculations. The only thing that guarantees your rate not to go up, all else equal, is not being involved in any accidents.

 

[Masmackles]

If you can afford repairs out of pocket never make an insurance claim. Not at fault, at fault, comprehensive, collision etc. Get a quote first then go from there.

If you cancel the claim still shouldn't be too bad. Better than them making a payout.

 

[batman900]

Since it has already been reported I'd just roll with it and let them fix it because it's gonna show up even if canceled like you said. If your really worried whether your record shows a $633 payout or $0 payout, you could get a used headlight and grill replacement for around $500 if your comfortable with doing the work yourself. Downside to that route is if you want to show a repair receipt to a potential buyer, they will see that you did the work and not a body shop.

Sorry it happened. I hit one of those birds once In my Accord, luckily I nailed him with the windshield and all that resulted from it was he blinded me with an unworldly amount of shit.

 

[BryanCO]

Lots of good advice already.

I generally consider insurance for larger losses (repairing windshield chips/cracks being the exception). As such, I would not have filed a claim for this. If the repair estimate was 1133 with labor, I would have purchased the parts and installed them myself or paid to have the parts installed.

Re Carfax, take lots of pictures and keep the receipts. Since it’s on the Carfax, it’s better to have the repair done by a known shop (e.g Honda). The Carfax will impact value and ease of sale.

Not sure how any of this has to do with you ‘being honest’?

 

[Fountainhead]

anytime I look at a car on Carfax with an accident I'm always suspicious unless the damage is detailed. Fortunately most people just walk in the stealership, buy the car, buy the 3000.00 F&I add ons, and walk out not even dwelling on the fact they got robbed. So I think Carfax won't matter to most buyers.

 

[Zeffy94]

anytime I look at a car on Carfax with an accident I'm always suspicious unless the damage is detailed. Fortunately most people just walk in the stealership, buy the car, buy the 3000.00 F&I add ons, and walk out not even dwelling on the fact they got robbed. So I think Carfax won't matter to most buyers.

Yeah, but dealers will use it as an extra excuse to screw you even harder on your trade.

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