Deekstar Free Insurance Information Image-click here for homepage Bookmark Page

Translate all Articles into 35 Languages!

Translate



I Was In An Accident, Will My Car Insurance Rates Go Up?


You were on the phone, got distracted and before you knew it traffic had stopped, giving you no room to stop and you rear end the girl in front of you. Or, let's say you're driving along and a deer jumps out and rams into the side of your door.

Now, let's say you need to file and claim and get your car fixed. But, are your rates going to go up?

In the first case, more than likely they will depending on how much your insurance company pays out to fix both cars and medical bills if anyone was injured.

But, in the second example, since this will be a comprehensive claim your rates should not see an increase at your renewal. Unless you have a long history of hitting deer then the people from PETA will be out to get you. Or if you file a lot of small glass damage claims then your rates could be affected or you may have to pay a higher deductible for comprehensive in which case small glass damage will be less than your deductible and you will pay out of pocket.

Part 2: How long does an accident stay on my record?

Ok, so back to the example where you rear ended someone. We have already established that you are going to see your insurance rates go up. Now, we need to find out how long and how much will they go up.

State insurance boards usually allow insurance companies to charge for a accident for 3 years from the day they started charging for it. Not from the time you got into the accident. You got in the accident in December and your policy runs from October to April. Your rates won't be affected until April of the next year and the surcharge will drop off 3 years from that April.

How much will your rates go up? Are they trying to get back the money they paid out for my claim? You can usually expect a rate increase of between 20-40% on average per six months. They could go up even more if you lose some discounts you were getting, such as a claim free discount.

The increase is not a recoupment of the monies paid out by your insurance company. It is designed to charge you a premium based on the risk, or chance, that you will get into another accident in the next 3 years. You are a higher risk to the insurance company and they are able to charge you for the higher risk you present to them.

If it was based on how much the insurance company paid out then you wouldn't be able to afford it if you totaled out your 2004 Nissan Maxima at $25,000 and you had to pay that back within the 3 year surcharge period. Makes sense? Good, now get off the cell phone!

A. Chris Tijerina has over 3 years of experience in the auto insurance industry and has seen many different people deal with auto insurance related problems. http://www.insurance-for-cars.com answers many of the questions facing drivers today.


MORE RESOURCES:

CNN

Dems' health plan good for people and for business
Houston Chronicle
I've worked with Republicans and Democrats, suburban, rural and urban members, doctors, nurses, patients and all the insurance company bureaucrats in ...
Mandates and Taxes Re-Burden Health Insurance MarketsWall Street Journal
Health care reform bill 101: Who must buy insurance?Christian Science Monitor
Americans in Their 20's Struggle to Get Health InsuranceVoice of America
San Francisco Chronicle -ABC News (blog) -Reuters
all 401 news articles »


Macau News

Regulators shut down 7 banks
CNN (blog)
Seven more banks shut down Friday, bringing the total to 37 failures so far this year, the Federal Deposit Insurance Corp. said. Three of the seizures were ...
Utah, Georgia Banks ClosedWall Street Journal
Two more bank failures bring 2010 tally to 33MarketWatch
US FDIC shuts down 7 banks, 2010 total now 37Reuters
ABC News -New York Times -Salt Lake Tribune
all 504 news articles »



Court rejects furloughs for 475 insurance fund lawyers
San Jose Mercury News
Arnold Schwarzenegger had no right to furlough about 475 lawyers who work for the State Compensation Insurance Fund. The Court of Appeal said the attorneys ...
Furloughs of state workers' comp lawyers illegalSan Francisco Chronicle

all 9 news articles »


Health-care legislation's insurance subsidies prompt questions of affordability
Washington Post
The private insurance subsidies would begin in 2014 and be intended for people eligible to buy coverage through insurance exchanges that would be created ...
As health care vote approaches, Nye remains undecidedThe Virginian-Pilot

all 4 news articles »


eCreditDaily.com

FDIC Chair: New playing field needed
Bizjournals.com
The Federal Deposit Insurance Corp.'s Chairman Sheila Bair advocated for a level playing field between community banks and the “too big to fail” at a ...
Bair Says Senate Bill Must Be TweakedABC News
Bair says FDIC worked hard with the lawmakers for small bank exemptionsMarketWatch
Another Small-Bank Group Welcomes FDIC Hint of TAG ExtensionMarket News International
Seattle Times -BusinessWeek -Financial-Planning.com
all 371 news articles »


USA Today

Obama: Walking in the steps of Roosevelt, Truman, Kennedy
USA Today
At stake: insurance coverage for 32 million people, new rules to prevent millions of others from losing their insurance, mandates on individuals and ...
Obama Rallies Support for Health Bill in VirginiaNew York Times (blog)

all 149 news articles »


TPMDC (blog)

Bay State labor leaders ask Lynch to reconsider vote
Boston Globe
He said the current bill does not do enough to force insurance companies to reduce costs. “Congressman, we will not be able to explain to the working women ...
Employers, Citing Mass. Law, Leery of Health RulesABC News
YOUR VIEW: Health reform now, with public optionSouth Coast Today
An intelligent person would just look at what is in place and not working and ...Florida Times-Union (blog)
Politico -Seattle Post Intelligencer
all 187 news articles »


Reuters

Workers paying more toward insurance premiums
San Francisco Chronicle
While workers are paying a greater share of their employer's insurance, premiums for family coverage in California increased 64.8 percent from 2000 to 2008. ...
About 1 in 4 in California lack health insurance, a UCLA study findsLos Angeles Times (blog)
Study: Middle class hardest hit by rising insurance costsBaltimore Sun (blog)
Healthcare bill will help millions of uninsured CaliforniansCalifornia Independent Voter Network
USA Today -Dallas Morning News -Capitol Weekly
all 177 news articles »


The Sun

Rangers start treble bid with Co-operative Insurance Cup final against St Mirren
Telegraph.co.uk
... drumming up custom for all the regular paraphernalia in the colours of Rangers and St Mirren, the contenders for the Co-operative Insurance Cup. ...
Walter Smith relishing another cup final as Rangers face St MirrenThe Guardian
CO-OPERATIVE INSURANCE CUP NEWSSportinglife.com
Saints' snub to cup idol's ticket pleaThe Sun
SkySports -Clubcall
all 260 news articles »

Google News

Tennis Ball Machines | Online Shopping Mall | Price Comparison UK | Beatles Box Set | ebay Auctions | Women's Shopping | Buy Movies Mp3's | Jewelry Shopping | Site Map
Google
 
© InsuranceProviderOnline Dot Info. Insurance Services Information 2006 - 2009