I damaged a bumper. Cash or insurance?
The repair was quoted $1300, which is reasonable for a full replacement.
I am wondering if I should hand $1300 in cash, or have it passed to the insurance company.
I offered a cash settlement which was lower than the full repair, but the other driver wants to have the bumper replaced. So it'll be either $1300 in cash or the insurance.
I started driving from last year and this is my first accident, so I have the first time forgiveness thing.
$1300 is a lot of money for me at the moment, but the possible insurance rate rise in the future might cost more. (I don't know how much it'll increase when a second accident occurs)
How would you handle the case? Cash or through insurance company?
Thank you for your insight.