If you have had an accident, you might wonder what this is going to do for the insurance that you get the next time you pay into a new policy.
So how much does an accident affect auto insurance rates? If you submit a claim after having an accident this may well affect the rates that you have to pay the next time you get a new policy.
Often i sure will not raise the rates necessarily after only a single claim, but has many claims are made within a certain period, and you have more than one accident, then this will affect your policy.
The next thing to consider will be fault.
Any accident can be seen from the point of view of an insurer as being your fault or not your fault.
Any situation where there has been an accident will be reviewed, and it will be decided whether you were at fault or not when it comes to the problem that went wrong.
It was your fault and you are to blame then you may well see that your insurance rates will go up.
However, it was not your fault and then this should not affect your policy at all, unless this seems to happen on many occasions, in which case a review of your policy may well be put into action.
Your rates will be increased if costly claims have been made against your insurance policy.
When paying out on a claim, any insurer will want to recoup some of the money that they have put out.
As such they will increase the rates that you have to pay in order to get some of the money back.
If you make a claim after having an accident, this may also affect any discounts that you might have been eligible to receive in the future.
Some insurers will offer a decreased rate through a discount in place that is offered for those who have been accident free for a number of years.
As soon as you have an accident, whether this is your fault or not, you may be disqualified from this discount and as such will continue to pay the same rates as before.
If you make many claims, and this amount reaches the threshold of a set out by the insurance company, you may well find that they cancel the policy altogether.
This will really affect your future rates and the ability that you have of getting a decent policy again in the future.
These are just some of the effects of an accident on your insurance rates.
So how much does an accident affect auto insurance rates? If you submit a claim after having an accident this may well affect the rates that you have to pay the next time you get a new policy.
Often i sure will not raise the rates necessarily after only a single claim, but has many claims are made within a certain period, and you have more than one accident, then this will affect your policy.
The next thing to consider will be fault.
Any accident can be seen from the point of view of an insurer as being your fault or not your fault.
Any situation where there has been an accident will be reviewed, and it will be decided whether you were at fault or not when it comes to the problem that went wrong.
It was your fault and you are to blame then you may well see that your insurance rates will go up.
However, it was not your fault and then this should not affect your policy at all, unless this seems to happen on many occasions, in which case a review of your policy may well be put into action.
Your rates will be increased if costly claims have been made against your insurance policy.
When paying out on a claim, any insurer will want to recoup some of the money that they have put out.
As such they will increase the rates that you have to pay in order to get some of the money back.
If you make a claim after having an accident, this may also affect any discounts that you might have been eligible to receive in the future.
Some insurers will offer a decreased rate through a discount in place that is offered for those who have been accident free for a number of years.
As soon as you have an accident, whether this is your fault or not, you may be disqualified from this discount and as such will continue to pay the same rates as before.
If you make many claims, and this amount reaches the threshold of a set out by the insurance company, you may well find that they cancel the policy altogether.
This will really affect your future rates and the ability that you have of getting a decent policy again in the future.
These are just some of the effects of an accident on your insurance rates.