Car accidents can result in higher insurance rates, which is a worry for many New York drivers. If you have been involved in an accident that wasn’t your fault, you might be wondering whether your car insurance rates will increase. The answer to this question is complex and depends on a number of factors. Please continue reading as we explore what you should know about these matters and why connecting with a qualified Westchester County Car Accident Attorney is in your best interest.
Can My Own Insurance Rates Go Up if the Accident Wasn’t My Fault?
First and foremost, it’s crucial to understand that insurance companies determine their rates by assessing the risk associated with insuring a particular driver and vehicle. The insurance company will view an accident as a potential indicator of future claims, increasing your perceived risk. They will assess risk based on the fact that you have been involved in an accident, regardless of fault.
It’s important to note that your car insurance rates won’t typically go up after an accident if you are not at fault, as each driver’s insurance covers their own damages, regardless of blame. Given that your insurer won’t be required to pay, your premiums will likely stay the same. However, your insurance premiums could still rise after an accident, even if you are not at fault, if your insurer incurs costs associated with the accident.
The extent of the rate increase will depend on various factors, including the severity of the collision, your claims history, and New York’s regulations. Insurance companies typically review several years of driving history to assess the appropriate rate to offer policyholders. Some insurers may have a specific threshold below which damages won’t trigger a premium increase. A history of accidents will significantly increase premiums. Even if you were not at fault, the accident will appear on your driving record, remaining for three to five years. An accident can affect your risk profile and lead to higher insurance rates when you renew your policy or switch insurers.
Should I Consult an Attorney?
Despite not being at fault in a car accident, consulting with a seasoned attorney is advisable, especially if you have injuries or significant property damage. An attorney can help you navigate every step of the legal process, ensure you receive fair compensation, and safeguard your rights. They can help you gather evidence to build a strong case and negotiate with insurance companies to recover adequate compensation for your damages.
You should keep in mind that insurance companies are businesses. They don’t have your best interest at heart, their priority is to minimize payouts. Even if you are not at fault, the other motorist or their insurer may try to blame you or dispute the extent of your injuries or damages. At Hausman & Pendzick, we are prepared to defend against these claims and fight for the compensation you need to get your life back on track. Connect with our firm today for guidance and skilled representation.