Will my auto insurance go up after an accident?
 
There are different variables that are used to determine the cost of your insurance policy as well as how much it will increase in the event you engage in an accident. In some cases, a driver might see a small or large increase in their auto insurance premium after they engage in an accident while others might be relieved of having to pay that extra amount if it was their first accident.
 

But why do some drivers see an increase and others don’t after an accident?

 
Aside from one insurance company being more lenient than the other or the fact that it was your first auto accident, there are other things that will affect whether or not your monthly premium is going to go up after engaging in a collision. Your role in the accident is one factor that greatly impacts this.
If you were at-fault for causing an accident, whether you were negligent or simply didn’t see another car, there is a high chance that at renewal time, your premium is going to go up. But what if it wasn’t your fault? What if a driver sideswiped you or rear-ended your brand-new car? What then? Would it be fair for the insurance carrier to act as though you were at-fault and still up your rates?
Well, accident lawyers in Murrieta, CA have found that if you become a lability to an insurance company as you have been involved in several accidents in the last few years, they may either increase your rates, even if you weren’t at fault for any of the incidents or they may even cancel your policy.
 

Does Your Insurance Company Have a Surcharge Schedule?

 
Although every insurance company has certain rules and regulations they must follow in their state, each handles their accident claims differently and each many have what is known as their own surcharge schedule.  According to insure.com, a surcharge schedule is “a predetermined premium increase that’s charged if you cause a car accident.” But how much is this increase and what will yours be for your accident?
Unfortunately, we can’t determine exactly how much this will be as your own driving record will play a role in this along with the insurance company you hold a policy with, however, “many insurance companies follow the Insurance Services Officer’s (ISO) standard of increasing a premium by 20 to 40 percent of the insurer’s basic rate.” The basic rate would be equivalent to what the company charges state drivers on average before any discounts or other adjustments are applied to the premium amount.
Whether you see a 20 or 40 percent increase will be up to your insurance company, however, if you feel your claim wasn’t properly handled or you shouldn’t have been charged an increase in your rates, you can always demand that your carrier reassess your claim.
And if you would like some legal input on the matter, we work closely with some of the best accident attorneys in the city of Murrieta, California who can provide this to you. Accidents have the tendency to cause havoc and confusion in our lives so we encourage you to speak with one of our accident lawyers who can give you the clarity you need.