How Much Does Insurance Increase After An Accident?

A car accident is devastating enough without the additional cost of car insurance following the crash. Rates rise when accidents occur, which is why many drivers are even more upset following an accident. There are many misconceptions about the rise in the cost of insurance, too. Some drivers believe their rates won’t rise if they are the victim rather than the person who caused the accident. Others are under the impression their insurance won’t increase much if the damage to the vehicles involved is minimal, and some believe their rates won’t rise if they have a good driving history. The truth is you never know whose insurance rates will go up and whose will not. Truth be told, it appears most individuals will see a rise in their insurance regardless who was at fault.

Start reading now to learn about the details on car insurance after an accident.

The Increasing Amount

The increasing amount varies by state, and depending on where you live, your insurance company, and your driving record, you might notice your rates only rise a little. Of course, others might see their insurance go up significantly. Statistics show there are some states where rates go up tremendously compared to others. California, Massachusetts, Texas, North Carolina, and New Hampshire are the states in which your rates are more likely to increase by more than fifty percent following a car accident. States such as Michigan, Maryland, Oklahoma, Kentucky, and Montana are the states in which your rates are less likely to rise significantly, and the average rate increase in these states is only around twenty to thirty percent. The amount your rates increase also depends on your situation. Were you at fault? Did you become a victim of someone else’s negligence? There are more than a few factors involved in this.

Continue reading to learn about insurance in the aftermath of an at-fault car accident.