Will Your Car Insurance Rates Rise After Claim?
21750 POINTSview profileJim WinklerCEO/Owner, Winkler Financial Group, Houston, TexasGreat question! Depending upon the company you are using, the unfortunate answer is usually yes. Some companies however offer "accident forgiveness" benefits for people who have not made a claim previously, so I would advise that you check with your agent first, before filing, and see if that is available for you. Another thing to think about is the cost of the repair itself - will it be equal to or less than your deductible? If so, you will pay that much anyway, it may not make sense to make the claim, and risk the increase in your premium...If you need any help, please feel free to contact me. Thanks for asking!Answered on April 23, 2014flag this answer
37376 POINTSview profileDavid G. Pipes, CLU®, RICP®Business Development Officer, T.D. McNeil Insurance Services, Fresno, CaliforniaPaid claims are a factor in determining the renewal premium for an auto policy. Companies look at claims that exceed a threshold amount, frequently $750. Claims that are considered are those where the customer or whoever was driving his car is at fault. The increase in premium is not designed to recover what the company paid; rather, it is an estimate of the increased risk of the drivers in the household and anticipates future claims.Answered on May 28, 2014flag this answer
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