You’ve heard it countless times: if you get into an accident, your insurance rates will skyrocket. While this fear is normal (after all, who wants to pay more money?), it’s not always substantiated. In fact, there are many factors that go into determining whether or not your insurance rate will increase after filing a claim. Learn more about which factors are considered below.
Driving History
Insurance companies usually tend to give higher rates to drivers they consider to be high-risk. As such, drivers who have received multiple traffic violations, had one or more motor vehicle accidents and been convicted of a DUI/DWI may be considered high-risk and pay higher car insurance rates. This is also true for new drivers and surprisingly, those with lower credit scores. On the other hand, if a driver has never had a ticket or there has been a large gap between their last accident and now, a minor accident may not impact their current insurance rate too much.
Accident Forgiveness
Accidents sometimes just happen, regardless of doing everything right. As a result, some insurance companies offer what’s known as accident forgiveness. Depending on your policy, this type of coverage may help you avoid a rate increase after your first at-fault accident.
Who is At-Fault for the Accident
New Jersey is a no-fault state, which unfortunately means that your insurance premiums will most likely increase after an accident, regardless of who is determined to be at-fault. However, the above factors may still be considered to a certain extent.
How Can I Decrease My Insurance Rate?
There are a couple of ways you may be able to decrease your premium. One of the most common ways is to increase your deductible. A deductible is how much money you’ll pay out of pocket before your insurance company pays the remainder of your claim. Another method of decreasing your insurance premium is by taking a driving class. Furthermore, you may be able to decrease your rate by improving your credit score.
As you can see, determining if your rate is going to increase (and by how much) is not direct science. It is dependent on several factors. If you were injured in an accident and want to file a claim, a personal injury attorney can walk you through the process and answer any questions you have about what to expect. They will negotiate with the insurance company on your behalf. Don’t hesitate to contact Andres and Berger, P.C. today for a consultation.
Contact A Cherry Hill Personal Injury Lawyer To Discuss Your Car Accident Case In New Jersey
Did you or a loved one sustain serious injuries due to a car accident in New Jersey? Don’t let the medical bills pile up while you wait for the negligent party or their insurance company to do the right thing. Right now, you need an aggressive personal injury attorney on your side, fighting to get you the compensation you need, want, and deserve. The skilled attorneys at the Law Offices of Andres, Berger & Tran P.C. represent clients injured because of a car accident in Camden, Cherry Hill, Gloucester Township, Winslow, and throughout New Jersey. Call (856) 795-1444 or fill out our online contact form to schedule a free consultation about your case. We have an office conveniently located at 264 Kings Highway East, Haddonfield, NJ 08033.
The articles on this blog are for informative purposes only and are no substitute for legal advice or an attorney-client relationship. If you are seeking legal advice, please contact our law firm directly.
