Even when people are unharmed following a car accident, they often worry about the financial consequences of the wreck. Car accidents are expensive, and even if the costs of repairing your car are covered and you don’t hire an Atlanta lawyer specializing in car accidents you’re likely still concerned about skyrocketing insurance rates. There are a few relevant questions most car accident victims have.
Will my Insurance Rates Increase?
Unfortunately, the answer here is almost certainly “yes.” Some car insurance companies provide customers with one “free” accident which will not raise your rates. But if you are in a car accident, chances are your monthly rates will increase.
How Much?
There’s no precise, universal number here. The rate increase will depend on your insurance company, driving record and profile. However, as a general rule you can expect your monthly insurance premium to increase between 20 and 40 percent after your first car accident. For more details, ask your insurance company for its surcharge schedule or “insurance point plan.”
How Long?
One accident can stain your insurance record for years and inflate your monthly rates dramatically. Expect to suffer the financial consequences of your car accident for between five and seven years.
Remember: the insurance company has its own set of priorities after a car accident, and they are not necessarily looking out for you. You might well have questions about your car accident that you don’t trust the insurance company to answer.
If you’ve been in a car accident in which the negligence of the other driver puts him or her at fault and you want justice and compensation, please contact the Atlanta car accident lawyers at Robbins and Associates, PC.