Hit in parking lot, better to know who did it?
 

Is there a difference on your insurnace for a hit/run in a parking lot vs when you get admission of guilt from the guilty party? This is in Michigan, as I know laws can differ. I'm wondering if your rates are affected less or not at all when the guilty party is identified and admits 100% guilt.

Would feel that as the other party now pays for the damage, that it would always be better.

Otherwise your insurance would have to pay for everything. At least thats the way it is in this state.

Well, the guy is going to pay the deductable and the rental (this is not for me), but I'm wondering if the "hit" persons rates are also going to go up (or go up more since there is no other at fault party).

I should add.....this is not a question of whether or not the insurance company should be deceived. They have already been told what actually happened, it is rather a question of the monetary difference that may have been.

If there is an identified party at fault, his or her insurance will pay for everything, and the incident will not be chargable to you on your insurance. Thus it will not affect your rates.

If you use your uninsured/underinsured coverage to pay for the damage to your car (which is typical for hit and run situations), that IS a chargable incident, and can affect your rates.

Rodeo, in Michigan we have a "no-fault" system so it always gets charged to your own policy. The insurance companies than negotiate/duke it out amongst themselves. Best I understand it anyway.

Well, as long as the at-fault driver is identified, you should be ok then.

To answer your basic question:

Yes, it can affect your rates, but it depends on your insurer's underwriting guidelines, which are generally kept secret.

In CA if you have a no fault incident that is charged to your insurance you can't be dinged for it on your rates. If the other party is identified, you're still not "at fault" so you can't be dinged. If they are uninsured or won't pay it's up to the insurance company to recover the money.

My car was hit on the street a while back with no note left of course, pretty nasty hit too. Not my fault, insurance paid for it less the deductible. I was rear ended last year and rather than wait for their insurance to pay for things and fix things I used my insurance to get it all taken care of and they recovered the costs from the other guy. It also meant that with the repairs I was only dealing with MY company, so if something was wrong I was dealing with my stuff and the people "on my side" rather than fighting with the other guy's company.

They can still drop you. Happened to someone I know.

That's really the point though, do they take it easier on you if the at fault party is identified(so they can go after his policy holder) or is your "penance" the same regardless?