After a car accident, car insurance rates usually go up. Car insurance rates vary from state to state, and the amount they increase will also depend on the state where your car is registered. Today we’ll take a look at the impact of an accident on car insurance rates. After an accident, there are immediate things to worry about, like visiting a doctor and dealing with damages or expenses. However, in the long term there may be other fallout from an accident. A rise in insurance after an accident can end up costing a lot of money over time. Moreover, it can often take many years for an accident to come off your record.
Will My Insurance Always Go Up After a Car Accident?
Let’s look at some numbers first. Louisiana, and New Orleans specifically, already has some of the highest car insurance rates in the country. If one is found at-fault for an accident, their insurance rates will go up. According to a recent study, insurance costs increased by 55% in Louisiana after an accident. Other factors that contribute to how much your insurance will go up after an accident:
Who is at fault? Are both drivers responsible and comparative fault will play a part?
How much damage was there? This includes injuries to persons involved in the accident, damage to vehicles or property, and other damages like loss of wages or diminished quality of life.
What state your car is registered and insured in
Your previous driving record
Never Admit Fault to An Insurance Company
A person’s driving record will only be affected if it is determined that they are at-fault or partially at-fault for the accident. Folks involved in accidents due to the negligence or wrongdoing of another should not see their insurance rates affected if they handle everything correctly. If you have been involved in an accident, simply report the accident to your insurance company, but do not admit fault in any way. Also be careful not to admit fault to any police officers at the scene of the accident. We recommend speaking with a car accident attorney before offering any testimony to any insurance companies.
Protect Yourself With Expert Legal Advice
The best way to protect yourself in the short and long term after an accident is to make sure you have someone in your corner that has dealt with this type of matter before. Insurance companies have many proven tactics to get people to confess to damages, so that the insurance company doesn’t have to be responsible. Settlement negotiations can be complex and lengthy. A car accident lawyer can spearhead the negotiations, protect you and your property, and make sure you are paid any compensation you are due. At Bloom Legal, our car accident attorneys have been helping protect people involved in car accidents for more than 15 years. We work hard every day to ensure that one accident won’t throw someone’s life off track. We do everything in our power to protect you from lawsuits, to keep your record clean, and to get you the compensation you deserve for your accident. If you or someone you know has been involved in a car accident, contact us today for a free consultation.
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