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how does car insurance determine how much my insurance will go up?

I was recently involved in a car accident, its my fault, my first time in 15years of driving. They will probably total the other car involved since the car only cost $900 kbb. The damage on my SUV in the lower right bumper, i have little misaligned on my hood and scratch on my headlight, I was thinking of just getting my bumper fixed so it wont cost my insurance company too much. I guess my main question is, does it matter how much my insurance pays for all the damages, is this how they determine how much my insurance premium will go up? will it be the same if i just get everything fixed? thanks

Public Comments

1. yes it depends on how much they pay out. they will determine if the accident is a 1, 2 or 3 point accident based on the amount paid out. if your car has a lienholder, they are going to require you to fix all the damage to your car. if there is no lein, its up to you what to fix, but if you have another accident and did not fix the damage the 1st time, you may have a hard time getting them to pay another claim if your auto is damaged in or around the same area.
2. It depends on your insurance carrier. Some companies do not take the cost of the accident into consideration. So with these companies, a $100 claim is the same as a $100,000 claim. Others rate claims by severity. Obviously, the more severe, the higher the increase in premium. Call your insurance Agent and ask them about your company's policy.
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4. it depends on who your ins is through, through state farm. no matter how many points your accident was it is 3pts for your first at fault and 4 for and following. your ins will go up because they have to surcharg you with 3 pts, i see that you have been accident free for 15 years, most companies have an accident forgivness program if you have been accident free for a long period of time, they will waive this accident, but you would no longer get an accident free discount. let me know if you have any questions, i would be happy to help you