Car Insurance Costs After An Accident
In California, there are thousands of car accidents each year and, according to the Office of Traffic Safety, approximately 3,000 people die in these accidents annually. Fortunately, for all involved, a majority of car accidents are not deadly but they do cause serious injury and property damage. The costs for repairing your car after an accident can add up, and it is important to be sure that you are receiving the compensation you deserve if the accident was not your fault.
How much will my car insurance payment increase?
For some, the injuries received in a car accident are minor and the big question is how their insurance policy will be affected. The answer to this question will vary depending on the specific facts of your case. Several factors will determine how much your insurance premiums will increase, including:
- How bad was the accident?
- Were you at fault?
- Where did the accident take place?
- Was anyone injured?
This list is not exhaustive. A car accident lawyer can also answer your questions and help you seek the compensation you need to pay for increased premiums. Read on for more information about car insurance and post-accident increases.
Where You Live
Your zip code may have an affect on the cost of your car insurance. The average American pays $1,470 each year for car insurance. The average cost of minimum-coverage car insurance in California is $574 per year, or $48 per month. For a full coverage auto insurance policy in California, the average cost is $1,804 per year, $400 per year more than the national average.
Types of Car Insurance
A policy holder in California can choose between a number of options, including minimum coverage insurance or full coverage. While minimum-coverage car insurance does meet California's minimum legal requirements, it doesn't include include comprehensive and collision insurance, which protects you from vehicle damage following a collision, theft, vandalism or natural disaster — regardless of who's at fault. Full coverage car insurance policies include comprehensive and collision insurance, which reimburse property damage to your automobile following most accidents, thefts, natural disasters and vandalism.
The average difference in cost between full- and minimum-coverage car insurance in California is $1,230 per year, or $102 per month, in savings.
Were You At Fault?
Your insurance premiums will likely increase if you are the driver who caused the accident. In fact, after one at-fault accident causing more than $2,000 in damages, your car insurance rates are expected to increase by about 30%. Drivers who cause an accident that results in bodily injury can expect to pay slightly more. The amount your rate will increase after an accident or multiple accidents will ultimately depend on the terms of your insurance policy. The specific personal or property damages resulting from the accident will also influence the amount rates are increased.
What if the accident wasn’t your fault? Some insurance companies will raise your rates anyway, particularly if you’ve had multiple accidents. They may even raise the rates if you were not at fault for any accident you were in. In fact, getting into multiple accidents—regardless of fault—could result in your insurance company completely dropping you from coverage. This feels particularly unfair, and an experienced accident attorney may be able to assist you.
For a free, no obligation consultation about your case, contact our experienced attorneys at Ghozland Law Firm today.