Personal Injury Law 101: The Effect Of Car Accidents On Insurance Costs

On average, there are about more than 5 million road crashes per year in America. With increasing trend of every member of family having separate vehicle the work load of insurance companies has also increased, in a good sense though. Most of you might be wondering about how an accident affects your car insurance rate. At fault or chargeable accidents might cause a pain in your pocket due to unexpected rate spike. The car insurance rate varies from company to company. Insurance companies sometimes seek information about the least expected things while considering the total cost. Some of the major things that affect your insurance cost include the year of your vehicle, the manufacturer, model, coverage purchased, number of vehicles you insure, vehicle safety features and the number of accidents you get into is also an important factor considered by auto insurance companies. In Alabama, for example, if you have been into four accidents, expect an increase of about 2.25 times in insurance cost. Likewise, different states have different criteria for number of violations or accidents in a specific time period. One important thing that the companies consider is the type of accident like it can be side impact collision, crashes while merging, head on crashes, due to speeding, mechanical (failed brakes etc.) or due to weather conditions.

Different insurance companies set various standards about changing insurance rates that you must confirm before getting the package. For instance, they will correlate your age, model and year of your car and type of accident to determine the increase in your premium the next time you renew the insurance package. Many drivers don’t have enough information about what to do to lower their cost after an accident and most of the time fall prey of the wide mouth opened insurance companies. Some of the drivers don’t even file a claim for insurance after an accident due to the fear of increased premium. Having complete knowledge about the terms and conditions of insurance company, the type of accidents and what should be considered an accident and what shouldn’t will affect your rates and help you do better for yourself.


Don’t stay in the dark when it comes to your legal issues, call one of our Top 3 NYC Personal Injury lawyers today:

1. Shulman & Hill Personal Injury Law Brooklyn 26 Court Street 21st Floor, Brooklyn, NY 11242 718-852-4701 shulman-hill.com

2. Fisher Stone Attorneys At Law 88 Suydam St suite a, Brooklyn, NY 11221 718-285-9404

3. Ribowsky Law- Queens Personal Injury & Accident Lawyer 109-12 Jamaica Avenue Richmond Hill, NY 11418 718-659-5333 mrinjurylawyerny.com

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