How To Know How Much Your Insurance Will Rise After A Car Accident
No driver wants an increased car insurance cost, but it is a simple fact that rates will increase after an accident occurs. While a car insurance policy will cover costs for both vehicle repairs and injuries to a driver and passengers, this level of coverage comes with two costs - the standard monthly premium and the increase to this premium should the coverage ever be used. When a claim is made on a car insurance policy, the amount that a premium will increase by is very difficult to gauge. A number of factors go into determining just how much an insurance policy will increase by, and it is in the best interests of a driver to learn just how much their increased car insurance will cost and why.
After an accident, the first person that a driver will speak to is a claims representative for the provider. This person will take down details of the accident, create a claim number, and pass it on to an adjustor, who will then contact the driver. The adjustor will want a more detailed version of events and will ask questions about both drivers and their vehicles. The adjustor will ultimately determine if a claim is going to be paid out, and in what amount. However, if a driver asks an adjustor how much their car insurance policy premium will increase by, they will not be able to provide an answer. It is the owner's car insurance agent that will ultimately know what the increase will be.
In speaking to an agent, owners should first ask what their new insurance rate will be. Don't settle for a vague answer - ensure that an actual number is given. If this requires a call back or email, so be it - generalities can lead to problems when it comes time to ultimately pay the car insurance bill for the month. Also, ask why the rate is being raised the amount it is. "Because of an accident" is not a good enough answer - what if it had been a different type of accident, or one that didn't involve other vehicles - it is important to know exactly what has gone into determining this new cost. Some companies will offer a "free" car accident claim that will not increase premiums, and others will offer deals for those that have been with the company over a period of years. Make sure to ask the agent just what is being changed and why.
Increased car insurance is unavoidable after an accident, but it does not have to be unreasonable. Make sure to be aware of how much a policy is increasing and why after an accident occurs.
