How Car Accidents Impact Insurance Rates

 Posted on June 08, 2018 in Personal Injury

After a car accident, you may be worried about paying more for your car insurance. This is understandable as car insurance is not cheap and you don’t want to overspend on it. The truth is that in some instances your car insurance rates will increase and in others, they will not be affected. Let’s take a closer look at how a car accident may impact your car insurance rates.

Instances When Car Insurance Rates Do Not Change

Most drivers wrongly assume that their rates will automatically increase after any type of accident. This is not always the case, especially if you were in a minor accident and have a track record of safe driving.

If the minor accident was caused by another driver, your car insurance rates may stay the same. It is likely that your rates will not change if your policy includes accident forgiveness and you have been a safe driver.

Instances When Car Insurance Rates Increase

In the event you are responsible for a major accident, you can expect your car insurance rates to increase. Fortunately, if you have been a good driver and have a fairly clean record, your premium increase will not be drastic.

Do Increased Car Insurance Rates Last Forever?

You should expect your higher car insurance rates to follow you for a substantial period of time. The severity of your accident and the amount of damages it caused will all play a role in how long you will have to pay increased car insurance premiums.

While increased car insurance rates are unfortunate, understand that each year you drive without becoming involved in a crash, your rates may decrease. You should note that you have the legal right to find another car insurance provider if you believe your current company left you with higher car insurance rates that you did not deserve.

Why Hire a Car Accident Lawyer?

If you have been hurt in a car accident as a result of another driver’s negligent actions, a car accident lawyer may improve your situation. With their assistance, you may reduce the risk of a responsible party’s mistake increasing your car insurance rates. You may also be able to collect full and fair compensation for your vehicle damage, medical bills, lost wages, and pain and suffering.

Reach Out to Our Hinsdale Car Accident Lawyers

If you are wondering how your car insurance rates will be affected by a car accident you were recently involved in, you should reach out to our highly skilled DuPage County car accident lawyers at 630-920-8855 for a free, no-obligation consultation.

Source:

https://www.edmunds.com/auto-insurance/how-car-insurance-companies-handle-car-accident-claims.html