Insurance Question - rate increase post accident?

[Buttermaker]

Question to Board insurance experts: I was in an accident last week - my first in my 30 plus years of driving. Damage estimate to fix my car - $7k (headlights alone are $1k each I learned). Another car damaged as well, let's say $4k to repar. Let's assume my fault - how much is this little incident likely to impact my insurance rates? One speeding ticket in the past 5 years if that's relevant.

Thanks.

 

[tsywake]

ITC Batsignal.

 

[Liquid Karma]

Mine nearly doubled after an at-fault accident.

 

[ImTheCaptain]

I don't really like these questions because they're so person-specific or state specific but I'll drop some generic info.

The impact depends on your carrier and how long you've been with them, so you should really just call and ask, though you may get a confusing or vague answer. A lot of carriers have some kind of accident forgiveness for long term clients (usually 3-5 years); some have an immediate forgiveness if you had a clean record prior to signing up. My guess is that it won't impact your rates with your current carrier based on the info given.

My carrier (in Maine) has a 20% surcharge for the first accident if no forgiveness is in effect. I'd say a 20-30% increase is normal. Some carriers surcharge the whole policy, some surcharge just the vehicle driven by the person who had the accident.

The ticket is also a factor. If it's w/in the last 3 years, it could add additional levels to the surcharge or penalty. Usually an accident = a violation for rating purposes. Again, states can vary a great deal in terms of insurance. I know NC has some rules with which I'm not familiar.

The Reff (barf) is/was a state farm guy in NC, so if you're in NC he might be one to reach out to.

 

[ChicdeaC]

I was, at one time, a certified agent in NC. My carrier would have not have upped your rate after the ticket, but you'd be in for a hefty increase now (It would likely have been less if the damages stayed under $10k). I agree with ITC, call your agent and ask him to quote your new rate. You may pay less than the quote because of longevity but it should give you an idea.

 

[Buttermaker]

Thanks for the responses. I am with USAA. I will give them a call and ask/plead for clemency.

 

[bym051d]

Can we complain about insurance companies in this thread?

I was the victim of a hit and run nearly a month ago. The police report backs this claim up.

The other driver's insurance (I took a picture at the next stoplight of the plate) is refusing to pay. My company called me today asking for a copy of the police report. WTF, isn't that something they should be doing? It's been nearly a month.

 

[ImTheCaptain]

a month is a long time, yes. when did you file the claim with your carrier? after you found out the other carrier was denying it or right after the accident?

 

[bym051d]

a month is a long time, yes. when did you file the claim with your carrier? after you found out the other carrier was denying it or right after the accident?

On the way home from the accident.

What also gets me is, by my understanding, in NC, if one driver is charged with hit and run, he is at fault. There is no contributory negligence.

 

[tsywake]

My company called me today asking for a copy of the police report. WTF, isn't that something they should be doing? It's been nearly a month.

According to my understanding from why my wife was an adjuster, occasionally the police drag their feet getting reports to the insurance companies, and they have better luck getting the report from the claimant.

 

[KitchinDeac]

On the way home from the accident.

What also gets me is, by my understanding, in NC, if one driver is charged with hit and run, he is at fault. There is no contributory negligence.

As a practical matter, it would be pretty hard for a hit and run driver to claim contrib, but there is no such rule to my knowledge.