Car accident

You were on the telephone, got distracted and before you knew it traffic had stopped, giving you no room to stop and you rear end the girl before you.

Or, shall we say you are driving along and a deer jumps out and rams into the side of your door. Now, let's imagine you want to file and claim and get your vehicle fixed. But, are your rates going to go up? In the 1st case, likely they may relying on how much your insurance corporation pays out to mend both cars and doctor's bills if anybody was wounded.

But, in the second example, since this may be a complete claim your rates should not see an increase at your renewal. Unless you've a long history of hitting deer then the people from PETA will be out to get you. Or if you file plenty of tiny glass damage claims then your rates could be influenced or you could have to pay a higher deductible for complete in which case tiny glass damage will be less than your deductible and you may pay out of pocket. Part two : How long does an accident stay on my record? Ok, so back to the example where you rear stopped somebody. We have already established that you're going to see your insurance rates go up.

Now, we want to discover how long and how much will they are going up. State insurance boards generally permit insurance firms to charge for an accident for three years from the day they started charging for it. Not from the time you got into the accident.

You were given in the accident in December and your policy runs from October to Apr. Your rates will not be influenced till Apr of the following year and the surcharge will drop off three years from that Apr. How much will your rates go up? Are they making an attempt to get back the money they paid out for my claim? You can generally expect a rate rise of between 20-40% approximately per half a year. They could go up even more if you lose some rebates you were getting,eg a claim free discount. The rise isn't a recoupment of the monies paid out by your insurer. It is intended to charge you a premium based totally on the danger, or chance, that you'll get into another accident in the following three years. You're a higher risk to the insurer and they may be able to charge you for the higher risk you present to them. If it was based totally on how much the insurance corporation paid out then you would not be ready to afford it if you totaled out your 2004 Nissan Maxima at $25,000 and you had to pay that back in the three year surcharge period. Makes sense? Good, now get off the cell phone!