In America, one of the major industries is auto insurance. The vast and continually dealing with enormous amounts of money coming in and going out auto insurance sector. Given the level of protection provided, these prices are frequently greater than what the average person would like to pay, but the insurance business sets the price, and most people need insurance. Raising prices in response to poor driving and a demonstrated higher risk of having accidents is one strategy insurance firms employ to defend themselves against more expensive drivers.
As a result, insurance companies increase your rates when you have a driving violation or accident to compensate for the extra costs they incur in providing you with financial support for the damage and expenditures related to the accident.
It is difficult to predict how much one’s insurance would increase after an accident because insurance companies have a fairly standard set formula for raising rates. However, because each company has a distinct rate, it is difficult to generalise the answer.
The personal injury attorneys in Philadelphia, PA can often help you prove the other party was at fault by proving who was at fault in the accident.
Unless you were at fault, there was no increase
Only when you commit an automobile accident that causes damage or injuries to others do your car insurance premiums often increase. Your insurance provider shouldn’t raise your rates if you can prove that another party was at fault.
Here are a few instances of car accidents that are not chargeable:
- Your vehicle was involved in a hit-and-run incident.
- When it was damaged, your car was lawfully parked.
- You weren’t at fault for a moving traffic infraction in the collision, even though another car struck yours in the back.
Insurance companies, however, frequently demand evidence that you were not at fault.
Following are some types of evidence you can get and provide to meet this proof should your auto insurance provider ask for it in the event that you were not at fault for the collision:
- A police report on the collision
- An admission of guilt from the other driver’s insurance company
- written admission of fault made under penalty of perjury by another driver
- A legal record proving another party paid you back for accident damage
If your premiums increase following an accident, expect them to remain higher for three to five years.