Will my car insurance rates go up in a single car accident?
Have had a perfect driving record for 20 years, last week on my way to work, hit black ice, and car overturned in the ditch – car was a total loss. Do you think my rates will rise? No injuries or property damage, just a totalled car from the crash. Have been with the same insurance company with no previous claims the past 10+ years.
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April 28th, 2009 at 9:39 pm
First it depends on your state. If you are in NH, they can't surcharge you for a one car accident, even if you total the car.
Then, it depends on your company. Some have first accident forgiveness after you have been with the same company more than 3 or 5 yrs. Some have first accident forgiveness up to a certain amount (like only up to $10,000, above that is chargable). Some don't have any first accident forgiveness.
The best place to find out is your agent.
April 28th, 2009 at 9:39 pm
Yes I think it will still go up but not alot.
April 28th, 2009 at 9:39 pm
depends on company.
my dad turned in the door on his impala got hit in parking lot. they raised his rates. now i had a fender bender with a pole with his car and he won't turn in as he's afraid his rates will go up again.
this is my first accident so i don't know if my old company would have raised mine or not.
April 28th, 2009 at 9:39 pm
No, your first accident is forgiven in MOST states. I would ask your agent since you already reported it.
April 28th, 2009 at 9:39 pm
no it should not go up. If it does get a new ins. co.
April 28th, 2009 at 9:39 pm
It really depends. The agent can be the one to give you the best information.
When I totaled my car at 16 my rates went up a ton, but over ten years later when I got into a fender bender (the insurance co had to pay out about $1000) my rates actually went DOWN because of the way that the insurance policy was written and the number of years driving I had.