I Was In A Minor Accident
August 25, 2009 | Filed under Life, Money
I haven’t been posting here for the past few days for one simple reason: I am absolutely and totally frustrated at myself. (Oh, and I’ve been working full days all week, and writing a 4500 essay too. Time is also an issue.)
Late last week, I was involved in a car accident. Nothing major; there were no injuries to either party. It was the shock more than anything else. I wish I could say the accident wasn’t my fault, but it was. It was raining heavily, I was on the freeway, I was too close to the car in front and didn’t have enough room to stop when they braked suddenly. I rear-ended them lightly, but because they drove a motherfucking BMW, the bumper crumpled like a bitch and I’m going to have to cover the costs. No damage to my car of course, with Toyotas are built to last the distance.
My third party car insurance excess is $600AUD. While it frustrates me to have to spend that amount on money because of my own carelessness (one week’s work, down the drain!), I do recognise my good fortune in having been pragmatic enough to be a saver, rather than a spender. I know many people with full time well-paid jobs who couldn’t pay $600AUD easily, whereas the money’s not an issue for me with my tens of thousands in the bank. I can’t stress the importance of an emergency fund enough – everyone should have a spare $1000AUD in a savings account for unexpected situations.
Though, my insurance premium renewal is going to a bitch of a increase next year, and probably for the next couple of years.
17 Responses to I Was In A Minor Accident
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Ouch, I’m sorry to hear that! At least you weren’t hurt.
I totally agree with having emergency funds, though my reason *cough*paranoia*cough* is more specific: I always fear that out of the blue, I’d get a letter from the tax office claiming that I actually owe the government outstanding tax that I wasn’t aware of. I’ve had that happen to a friend once, who had to pay up about $500 immediately to the ATO. Unfortunately, she was the type that didn’t save much (she couldn’t really, crappy job that only paid once a month + bills + rent) and ended up having to borrow from people around her. She was so stressed out.
That’s why I like having two accounts: one that is savings only (and only accessible online) and one that everything goes into and to which I have a keycard. The latter gets $1000 removed and dumped into the former as soon as it reaches $2000. That way, I see that I have <$2000 when I withdraw money and it motivates me to save more and spend less.
Belinda on August 25, 2009 #
Aww, that is a bitch. Count yourself lucky though, in heavy rain you could have been in a much worse accident. Glad you’re okay :)
Ann on August 25, 2009 #
I’ve been in so many accidents, and each one is always scary. None have been my fault, though, which is lucky for me. Considering that it was raining at the time of your accident, it could have been much worse! I always hate driving in the rain for that reason. I’m just glad you’re okay! =)
Lucy on August 25, 2009 #
Sorry to hear that love – I’m glad you weren’t hurt! Unfortunately most of us will be involved in at least one minor accident every few years and will be responsible for some of them, there’s no escaping it as a frequent driver. Don’t be too hard on yourself, the money can be replaced and all you can do it learn from the experience.
Tanya on August 25, 2009 #
Wow, that sucks. My mom was in a car accident in the winter and pretty much the same thing happened to her, but her insurance company ended up covering for everything although her car insurance went up by a lot. I completely agree that it’s very important to have extra money at the side for emergencies like these.
Regina on August 25, 2009 #
Oh no, thats horrible you had an accident, at least neither of you were hurt and that your own car was fine :)
If it was the Monash you were on, that’s also completely understandable…Its the worst freeway ever for cars suddenly braking.
Alexandra on August 25, 2009 #
Glad no one got hurt! That’s the most important part. Even though it was a shock to be in an accident material damage can always be fixed.
I’m not sure how it works there but here car insurance pays for damages you did to another car. Unless one wants to pay for it themselves, if it’s a small amount for example.
I agree though that everyone should have a savings fund for unexpected spendings. Whether that’s a car accident, broken washing machine / dryer / etc or anything like that. It’s never a waste to put money aside for emergency situations.
Chans on August 25, 2009 #
Been there, done that – same circumstances with the exception that it was sunny and so much so that I didn’t see the guy in front’s brake lights come on… I only realised he’d stopped too late and slammed into him at speed.
No damage to his car whatsoever, but mine had a “crumpled nose” look and had to go for repair… Insurance premium quadrupled when it came for renewal, because I had only had my licence 2.5 years at the time. They whack up the premium over here if you’re under 25 and have had an accident in the first 3 years of your licence. Waaah :(
Amelie on August 25, 2009 #
Funny… I thought BMWs were supposed to be pretty sturdy cars, although the crumpling might be a safety feature to prevent impact damage from spreading to the rest of the car.
Like you, I drive a Toyota and I love my Camry. :D
TWD on August 26, 2009 #
This is why I don’t drive. Too bloody expensive. :P
Macca on August 26, 2009 #
Been there, done that (as a brand new driver), except like Amelie, it was sunny. >o< It’s not something I want to relive. I’m just glad no one was hurt.
Noellium on August 26, 2009 #
I’m glad you’re okay! That’s the most important thing.
And this reminds me of when I was in the 8th grade and we had to do the “baby” project. Basically we had to carry a 10 lbs sack of rice around as a baby, were given “jobs” with salary, and had to learn how to manage money. We were told we would get an “emergency situation” so we had to save up. My friend and I shared a house and we ended up with the most expensive situation possible. Luckily we saved enough :P
marilyn on August 26, 2009 #
Uhh that really, really sucks. Being Asian and all, the first thing I think of when it comes to car accidents is that my insurance will go up and be a pain in the butt for the longest time…. THEN I wonder if my bones are still intact. I’m assuming yours are and that’s at least one positive aspect of it!
Felisa on August 26, 2009 #
I’m so sorry to hear about your accident. I’m glad you weren’t hurt but I know I would have been frustrated for the same reasons.
Caity on August 26, 2009 #
Glad everything physically is all well! Car insurance is always a bitch for anyone who’s not about 40 years old x(
(fair enough though I guess, my own teenage friends are just about the most reckless idiots ever, but exxy on the rest of us!)
LUL at BMW’s, so true. A BMW rear-ended my friend’s crappy old ’96 Holden, absolutely no dint in the Holden but the BMW’s front bumper is mangled like hell. Hiluuhrious.
Jess on August 26, 2009 #
Aww babe, I did the same thing too about 2 years ago. Ran up the back of a fancy schmanzy van at uni, completely my fault, I just wasn’t looking. My (toyota) tank of a car didn’t have a scratch on it – but the van was pretty smashed up. I ended up paying about $800 in excess, was so upset for days – mainly just frustrated with myself.
My premiums went up, but I used it as a reason to shop around for insurance, and ended up getting insurance with a new company that was cheaper than the previous one, before the premiums went up.
At least you’re walking away from your first accident, and you’ll learn to be a safer driver – and you know that you’re in a safe car! So many of my friends have had very serious (and stupid) accidents in cars in their first couple of years, and have completely written their cars off.
Bobbi on August 26, 2009 #
Ugh, that sucks. But at least the both of you are safe!
Erin on August 27, 2009 #