[Zed'El-Uno]

Guys,


Looking form someone with some experience in this context. My 2018 ZL1 slid off teh highway down the embankment due to me driving it in a massive downpour and while going 45 in a 55 the stock R compound tires just wouldn't stay put and we hydroplaned right off the road. I don't believe any major structural or mechanical damage was done but no one will know until it gets torn down.....





Visual insurance estimate is about 6k so far but they could find more once they start working on it. SO my options are


- Pay out of pocket to try and avoid an insurance premium hike and getting a CarFax report on the vehicle. The issue with this approach is that they may find much more damage and it could go north of 10k. Thats a lot of $ out of pocket.



- Claim it with insurance. I will get a premium increase of an amount unknown to me... No one can seem to tell me what it might be. I will also get a non clean Carfax record that will hurt the cars resale value.


Any insurance guys in here or someone that has gone through this before?




Thanks in advance!

[bobby35ny]

go thru insurance, premium increase over time shouldn't be 6 to 10k
assuming 10k job if the eyeball says 6k.

Market is so soft on ZL1's a hit on a Carfax wont mean much. take good pics to your advantage and save them for the next buyer.

[JB'sZL1]

Well, it's really a simple numbers game. Where any tickets issued? You need to ascertain the cost of repairs...guessing won't work. Unfortunately (for you), if you file a claim (in the 5 digits), you can count on your premium doubling nearly, particularly if you were "driving too fast for conditions." Then your premium will dribble down over the next 3-5 years, provided you have no more claims, tickets or accidents. That's just the way insurance works: they are in business not only to recoup their losses, but make money. It also depends on what your premium is now. Unfortunately, there is no magic formula for lowering your premium after a claim: it depends on your driving record, credit, vehicle, etc. I know this is all common knowledge...

In the simplest terms, if the damage is only $5k-$6k, I would not hesitate to fix it for cash, unless the claim is no fault (a deer or what have you). Simply because insurance for Z's are expensive to begin with.

[Mcmillion]

Was a police report filed?

[Cleancoupe]

Claim it, there is a reason why we carry insurance. If they hike your premiums up, shop around. I would take pictures of the before and after to show to any potential buyers in the future, but I wouldn't think your value would drop much at all because of it. In truth, these cars don't hold their value much in the long term anyways so I wouldn't worry about it.

[Markoz28]

Go through insurance. If the accident was not bc of error on your part it should not rise. If so maybe 10-20%. So maybe an increase of $20-40. That would equate to about $400 more per year: you will be ahead of the game even with that.

[unavailablezl1]

If the REAL reason is due to inclimate weather, then it may be no fault of yours. It just depends on your insurance wording. Since the state law is to slow down in bad weather, and you didn't, you could actually get a ticket. But since you did slow down, you might get it fixed under comprehensive instead of collision.

I have been a driver's ed teacher for 10 years in Texas and know the laws pretty well. I had one student get a ticket for doing 30mph in a 30mph speed zone. Because he did not slow down. Kinda picky I know, but the cop must have been needing his quota.

[PROMETHEUS]

That should be covered under your comprehension and should not increase your premiums, unless you were already in a high risk status! Check with your insurance company and get an idea how they are going to handle it, before you put in a claim. And don't tell them a dam think about your speed, the only way they can determine your speed is to pull it off your ECM. Cant estimate speed in the rain via tire tracks/skid marks.

[RUQWIKR]

You don’t have to answer publicly but if your policy on any vehicle has had claims in the past ‘x’ years, it can push you towards high risk. If you have youth drivers, that can cost multiple times more. I would ask your agent how long any claim counts on your “scorecard”. Obviously, it also depends on your cash reserves, etc.

[Vtor_ZL1]

Originally Posted by unavailablezl1

If the REAL reason is due to inclimate weather, then it may be no fault of yours.

Meteor hits your car.. it's an accident, everything else driver error.


Wrong equipment, going too fast = all driver error.


Those little grooves on tire allow it to pass for DOT, does not make it safe to drive in standing water.

[Zed'El-Uno]

Thanks for the quick feedback guys. I am asking my agent if this is a no fault since i was doing 45 in a 55 and the reason for the accident was hydroplanning due to rain. I have a clean record otherwise and no claims in forever.........


Missing the ZL1 already:(

[SteveV]

I love the comment "this is why we carry insurance".

Don't forget that carrying insurance is also a LAW. At least in NC, you cannot legally register your vehicle without insurance.

I would hazard a guess that more people on this forum than you think, would NOT carry insurance if it was not required by law.

[Vtor_ZL1]

Bet your bank wouldn't lend you a DIME without proof of insurance

[unavailablezl1]

Originally Posted by Vtor_ZL1

Bet your bank wouldn't lend you a DIME without proof of insurance

There are many states that carry a jail sentence. Michigan state, you get a year in jail for not having insurance.

https://www.insure.com/car-insurance...insurance.html