What Amount Damage Triggers Your Filing an Insurance Claim?

[Carl]

Recently had my WashSelect II broken into w/ the greater headache being the damage to the auto cashier from the 45 minutes of crowbarring action it sustained rather than losing the cash and coins the thug was able to steal. My insurance deductible is $1,000 and then I also have to pay a "per incident fee" of $250. Was curious how big a damage amount there needs to be before you guys go ahead and file an insurance claim rather than pay out-of-pocket. This one has me deliberating whether to just pay out-of-pocket but then again, all the monthly premiums I pay for such insurance that will cover this...that tempts me to file and get a bit of help but then I wonder how that'll affect my monthly premiums? Thanks! - Carl

 

[I.B. Washincars]

Unless you have already turned in a bunch of stuff over the last few years I would most likely let the ins. company pick up the tab. I can picture replacing an ACW paystation getting up to about 15K.

 

[Carl]

I actually feel pretty lucky that although he tore up the door w/ the crowbar and ripped out the bill validator assembly along w/ yanking out the coin hopper; I was able to repair everything for $3,118.00. He ran off w/ $266 cash & coins and I lost $21.00 in drive-off sales (was very rainy those days) so that equates to $3,405.00 and like I said; I've got a $1,000 deductible and a $250 "per incident fee" w/ my insurance company.

Is it worth the $2,155 difference to file a claim or should I just pay out-of-pocket and keep "claim-free" until a bigger incident might come along...that's what I'm deliberating right now. I honestly thought this would be a minimum 5K to fix but the credit card reader, the computer boards, the door's displays and buttons and even the coin hopper (was found in the adjacent field) still function so I consider myself pretty lucky the damage was well under 5K and like you said way under 15K!

 

[Ric]

Wow...it took a beating. For 200 bucks you should consider the vibration alarm Unitec offers for the WSII. You arm and disarm it via the keypad. It sounds a loud siren mounted inside the cabinet that would scare most thugs off. I suppose you could connect it to a central/dial alarm also. I have them on mine.

 

[washme1]

Speaking as a former insurance agent, I would file the claim if you have been claim free for several years. Every company is different as far as whether they will increase your premium do to a claim.

 

[Stuart]

I have had a few claims that was over the deductible amount but paid them myself. My last one was almost 3x the deductible and this one went to the Ins. Co.
If you do not file the claim, you will be picking up the tab and probably doing the work. If it goes to Insurance, it all gets taken care of. Do you have the time and knowledge to mess with it?

 

[Carl]

Thanks for all the replies. I was able to get my Wash Select II back up and running three days after the break-in for a cost of $3,405. Gosh, I wish I knew about that vibration sensing alarm system 'cause that surely would have scared off that thug who instead felt comfortable crowbarring it for 40-45 minutes! I'd gladly spend to outfit the auto cashier w/ that Unitec alarm system you've mentioned so yes, thanks for the info. Smart idea.