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How Much Does Car Insurance Go Up After an Accident?

by | Jan 6, 2022 | Car Insurance

WHICH STATES HAVE THE MOST EXPENSIVE CAR INSURANCE?

Michigan, Colorado, Florida, Colorado, and California are the top five states, according to Insure.com.

Because insurance costs and driver safety are linked, it’s no surprise that these five states have the highest rates of accidents, pedestrian fatalities, and fatal car accidents.

Insurance companies have made it obvious to customers over the years that if they submit claims, their rates will rise. As a result, many drivers are reluctant to file a claim with their insurance company after an accident. Is this, however, the case? How much will your insurance premiums rise after an accident?

A QUICK OVERVIEW OF YOUR INSURANCE POLICY

Aside from the amount you pay each month, how much do you truly know about your insurance policy? Do you know what your insurance coverage entails? What is your deductible? What about the circumstances that will cause your insurance premiums to rise? Let’s have a look at how it works:

INSURANCE THAT COVERS EVERYTHING

Is there any damage from hail? Is your car being broken into? Is there any injure from potholes? All of this is covered by your comprehensive insurance. Any loss that isn’t caused by a collision is covered by comprehensive insurance (including theft).

Your insurance provider may or may not increase your rates if you submit a claim via your comprehensive insurance. Because these claims don’t involve a third party, it’s typically more cost-effective to pay for the repairs yourself rather than putting a claim on your insurance.

LIABILITY FOR BODILY INJURY

If you’re found at fault in an accident, bodily injury insurance (BI) protects the other driver and passengers.

Every state has legislation requiring drivers to carry a certain amount of insurance. When it comes to your premiums, this is the insurance you should be concerned about. If you have to settle a bodily injury claim, your insurance provider will almost certainly hike your premiums. These claims will only occur if the other motorist claims against your insurance and establishes that you are at fault.

The good news is that your insurance company does not want to pay out as much as you do not want your premiums to increase. This implies that if you are involved in an accident where blame is disputed, your insurance company may side with you in an attempt to establish the other person is at fault.

LIABILITY FOR PROPERTY DAMAGE

Property damage responsibility pays paid only if the other party claims against your insurance and you are determined to be at fault, similar to bodily injury liability. While paying these expenses out of pocket to avoid an insurance increase, this is not always the best option.

Even after they’ve paid your check, nothing prevents the other motorist from filing a bodily injury or property damage claim. In this situation, you will lose the money you spent on repairs and will have to pay a higher premium as a result.

COVERAGE BY UI/UM

Most plans provide the option of adding uninsured or underinsured motorist coverage. If you are struck by an uninsured driver or the at-fault party’s insurance is insufficient to support your claim, this coverage kicks in. Your rates should not increase if you utilize this coverage.

Your insurance provider may charge you if you file a claim for a hit-and-run accident and do not have UI/UM coverage. Before filing a claim, speak with a car accident lawyer to understand more about your coverage choices and make educated decisions.

WILL MY INSURANCE RATES INCREASE IF I FILE A CLAIM?

Is it still perplexed? Insurance is complicated, and it’s supposed to be that way. Insurance companies gain more money when they don’t have to pay out as much. State Farm, the nation’s largest property and liability insurer, generated $5.9 billion in profits last year! It’s fair to assume they won’t assist you in lowering your rates or receiving reimbursement on your claim.

The essential thing to remember is that if you are not at fault, your insurance premiums should not increase. Your insurance company will only charge you extra after an accident if it needs to pay more. If you are not at fault, your insurance company will attempt to collect payment from the other party’s insurance company. This is why you need to contact a car accident lawyer who can clearly and swiftly prove fault after an accident.

HOW CAN I ESTABLISH THAT THE OTHER PARTY IS AT FAULT?

The other party is at fault if they strike you or pull out in front of you. Isn’t it supposed to be that simple?

Not so fast, my friend.

It’s doubtful that the other driver’s first thought after a collision was, “Is the other driver okay?” Instead, it’s more commonly something like, “There go my insurance prices.”

According to Insure.com, you may anticipate your premiums to increase by 26 to 32 percent after only one at-fault collision. Unfortunately, some drivers will lie as a result of this. So, how can you show that you’re not to blame?

PHOTOGRAPHS

After an accident, photographs might reveal much. They may illustrate where an accident occurred, how it occurred, and how much damage was produced by the collision. Pull out your phone and start shooting images once you’ve double-checked that everyone is safe.

Take pictures of all of the cars, as well as any property damage and your injuries. Take a photo of the other driver’s license plate as well. Insurance companies are on high alert because some individuals lie about ever being in an accident.

EYEWITNESSES

Eyewitnesses are a fantastic method to establish what occurred in an accident, especially if they were not in the car at the time. Third-party witnesses have no financial stake in the case’s result.

That implies they’re more likely to offer truthful and objective testimony about the disaster. Even yet, witnesses aren’t faultless, and as time passes, they may forget critical facts. One of the essential reasons to begin a car accident lawsuit as soon as possible is this.

Is there any physical proof that the other driver was on the job? Was there a problem with the car? What was the driving record of the other driver?

Although this tangible evidence may not have been there at the time of the accident, a smart attorney can unearth it when the issue of guilt arises. The police report, the driver’s medical history, and cell phone data are all factors that might aid in proving guilt.

Accident reconstruction: In certain circumstances, an accident reconstruction expert may be required to identify how the accident occurred and who is to blame. The expert may assess the cars’ physical damage, your injuries, and any skid marks or property damage.

WHAT TO DO IF YOU’VE BEEN IN AN ACCIDENT

Following an accident, you must take immediate action. What you say and do may have a significant impact on your case, as well as your insurance premiums.

Following an car collision, you should perform the following:

DO NOT LEAVE THE ACCIDENT SITE

You must remain at the scene if you are involved in an accident. For starters, it’s against the law (unless you’re hurt). Furthermore, after you leave the accident site, all evidence is wiped away, and it’s your word against the other driver’s. This is why we highly advise you to remain at the site of an accident and take as many images as possible until law enforcement authorities permit you to depart.

EXCHANGE INSURANCE INFORMATION

Collect all other parties’ contact information. If you want to submit a third-party claim, this information is very critical. You must also provide your details to the other driver at this time. Remember that this does not indicate they will claim you or your insurance, but in most places, you must provide your insurance information if the other motorist asks for it.

SEE A DOCTOR

If you want to file a car accident lawsuit, you need to have a medical record as soon as possible. It’s a good idea to be checked out even if you’re not in pain. Because some catastrophic injuries don’t show symptoms for days or weeks after an event, it’s critical to have a doctor examine you for any concealed injuries.

SPEAK WITH AN EXPERT CAR ACCIDENT ATTORNEY

An experienced car accident attorney can assist you in obtaining a reasonable payment after your car accident, as well as proving your case. While car accident attorneys are not the same as criminal defense lawyers, they may help you show who was to blame for your accident and avoid having your insurance rates unfairly affected by a claim.

WHAT NOT TO DO IF YOU’VE BEEN IN AN ACCIDENT

If you make a mistake, the insurance company will come after you. Therefore it’s critical to be cautious following a car accident. An attorney may be a helpful friend throughout this process, but if you’re on your own right now, here’s what you shouldn’t do:

DO NOT SPEAK WITH YOUR INSURANCE COMPANY

Your insurance company does not want to pay your claim. They’ll shift the blame to you or downplay your injuries if they can. Instead, hire an attorney to represent you in dealing with the insurance company.

DON’T POST ON SOCIAL MEDIA

You’re mistaken if you assume the insurance company won’t check into your social media accounts. Insurance companies can learn a lot about you simply by looking at your Facebook page. Don’t publish images of oneself doing physical activity on social media.

Accepting friend requests from individuals you don’t know is a bad idea. While your car insurance claim is pending, you should private your social media profiles.

Don’t lie about your injuries: Throughout your case, you will be asked how you are feeling and your ailments’ condition. You must be truthful. If something hurts, don’t conceal it, but don’t make it worse by exaggerating your symptoms.

This tarnishes your reputation and may jeopardize your case. When someone asks, “How are you?” it seems natural to say, “fine.” However, this might be a deceptive strategy employed by insurance adjusters to discredit your suffering.

HOW TO LOWER YOUR INSURANCE COSTS

Insurance is costly, but it’s not something you should scrimp on. How can you tell whether you’re paying too much for your insurance?

THE FOLLOWING STRATEGY IS RECOMMENDED:

Shop around: Different insurance providers may consider different criteria. While one company may penalize you for your speeding ticket from the previous year, another may just consider traffic accidents when raising your premiums.

REVIEW YOUR INSURANCE COVERAGE ONCE A YEAR

Have you noticed that your premiums increase every time you renew your policy? If this is the case, you should contact several insurance companies before renewing your policy to see if you can obtain a better bargain with someone else.

LOOK FOR AN ACCIDENT FORGIVENESS POLICY

Mistakes happen, but one mistake might cost you years if you don’t have accident forgiveness. Many businesses provide accident forgiveness. Check with your present firm to see what they have to offer, and if they don’t have what you’re looking for, consider switching.

CONSIDER THE COST OF YOUR DEDUCTIBLE

In general, the smaller your deductible, the higher your monthly premiums, and vice versa. Higher monthly payments may not make sense if you have an older car. If you suffer an accident, you should also examine if you can afford a larger deductible.

EXAMINE YOUR COVERAGE

Look at how much you’re paying and what your insurance covers. Is it really necessary to get rental insurance? Isn’t there something regarding roadside assistance? You won’t have to pay for this service via your insurance coverage if you have AAA or a comparable service. You may be paying more than you should be because of little details.

AFTER A CAR ACCIDENT, TAKE CARE OF YOURSELF

Money should be the last thing on your mind after a car accident. That’s why it’s critical to have someone you can rely on at your side. Call us for a free consultation.

Allowing the insurance provider to take advantage of you is not a good idea. Contact an expert car accident attorney if you have concerns or need assistance after a car accident. They can walk you through the process and fight for the compensation you deserve!

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