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How Do Accidents Affect Car Insurance Rates?

January 15, 2020
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There is a long list of factors insurance companies consider when it comes to figuring out your monthly rate. Your credit score, age, car, and marital status all affect how much your rate will be. There is a lot of other factors to consider, but the most important one is driving history. More specifically, your history of car accidents. Now, most people assume if they were in an accident, their rate will automatically go up, regardless of when, where, and why the accident occurred. In reality, that’s not necessarily the case. There are some other factors your insurer considers when it decides whether or not to increase your premium.

What Your Insurance Company Wants to know.

Before the insurer decides to increase their policyholder’s premium, they want to know the facts of the accident.
Do you have a good driving history until now?
How serious was the accident?
Do you have a history of at-fault accidents?
Do you have a history of moving violations?
Were you responsible for the accident?
What is the extent of the property damage?
Was anyone injured?

When Will My Car Insurance Rate Increase?

If you were responsible for a crash, your rate may or may not go up. It all depends on the factors above and the insurance company. If your insurer does decide to increase your rate, you might not see it right away. Normally, these increases come after its time to renew your policy. Other things that can be affected if you’re responsible for a crash are discounts. Many insurance companies offer “safe driver” discounts. You could miss out on this discount after an accident, along with the pain of a rate increase. However, if you’re a good driver, and have an excellent driving record, a fender bender won’t be the end of the world. Often, your rate won’t increase at all. Even if your at-fault, a minor accident might not affect your bill. Especially if your insurer rewards policyholders with accident forgiveness.

Wondering the Worth of Your Personal Injury Case?

After a personal injury accident, your top priority should be recovering. Not trying to figure out which damages you may be eligible for and determining the value of your claim on your own. Consult a Texas personal injury lawyer from Begum Law Group.

To find out how much your personal injury claim is worth, contact The Law Giant right away. You can count on us to investigate your situation and ensure you secure the fair compensation you deserve. To schedule a free, initial evaluation of your case, contact us today at (866) 523-4167.

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