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    Home»Finance»Insurance»How Much Does Car Insurance Rise, When You Have An Accident?
    Insurance

    How Much Does Car Insurance Rise, When You Have An Accident?

    October 9, 2018Updated:December 14, 202202 Mins Read

    The amount of car insurance after an accident largely depends on the type of the accident and how the insurance company views it. In a few instances, the rates remain unchanged, and how much the rates differ depends on the situation. How much does your car insurance rise after an accident not just depends on the nature of the accident but also on the following factors:

    car insurance

    Previous history of accidents

    People with a strong background history of accidents get to pay more than individuals who do not have a history of accidents. By rule of the thumb, safe drivers with no history of accidents pay less premiums. With less amount of premium paid the benefit in your claim works out fair, even if you couldn’t make it big.

    How insurance companies view the accident

    Generally, car insurance makes a good deal if the accident is genuinely not your fault. Nevertheless, if you have an accident at-fault, and the claim is huge, there are chances that you might end up paying high for your insurance premium. With fault at hand, you would require high risk insurance to salvage the scenario. In the event of an accident, there could be a surcharge that can be added to your existing policy. The amount of surcharge and the number of surcharges depend on the number of accidents and the history. Here are some liability car insurance recommendations .

    Exceptions to increasing the insurance

    There are a few exceptions to the generic rule of increasing car insurance after an accident:

    1. Few companies overlook a minor accident. If the claim involves a smaller amount, the rates can remain unchanged.
    2. If the claims are comprehensive, apart from collision, the rates are generally not affected. For instance, fixing the wipers and the windshield should not affect the insurance rates.
    3. There are instances, where the accidents are severe, yet the rates of insurance do not go up.  For instance, you are involved in an accident, and if you are found not at fault, there are chances that the insurance company least knows what has happened and the rates can remain unchanged.

    Also Read:

    1. 5 Legal Concepts That Can Affect Your Car Accident Claim
    2. Car Accident Case: Why Trusting the Insurance Adjuster Blindly is Not Good
    3. Surviving an Accident: Steps to Take After Your Crash
    4. What Happens if You Miss the Statute of Limitations in a Car Accident Claim
    5. Avoid These 3 Mistakes When Shopping for Car Insurance
    6. How Truck Insurance Works in Texas
    7. What to Do After a Serious Truck Accident: How an Accident Attorney Can Help
    Previous ArticleComparing Mortgage Rates For Refinancing
    Next Article 6 Smart Tips for Buying Car Insurance on a Budget
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