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:
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:
- Few companies overlook a minor accident. If the claim involves a smaller amount, the rates can remain unchanged.
- 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.
- 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.