How Will My Tennessee Automobile Accident Affect My Insurance Rates?

One common question that automobile accident clients ask is whether their car insurance rate is going to increase because they have been involved in an accident. In fact, concern over the effect of accidents on insurance rates is so widespread that some drivers actually think about whether or not to report minor accidents to their insurers. It is true that some car accidents do cause automobile insurance rates to go up. However, there are multiple variables involved in answering the question of how a specific accident is likely to affect an individual’s insurance rate.

One variable is that every insurer calculates its rates in a slightly different way. When you submit a claim, your insurer will consider the circumstances of the current accident in conjunction with a few other things as they decide whether to raise your insurance rate. The number of claims that you have made in the past, the determination of fault for the current accident, your driving record, and the amounts of any payouts that you have received from them are factors which are commonly involved in an insurance company’s decision.

A factor that will weigh heavily on whether or not your most recent automobile accident will increase your insurance premium is whether you were violating any traffic laws at the time of the accident. Certain violations like speeding, running a red lights or stop sign, and driving while intoxicated are frequently implicated in serious car accidents. These accidents cost insurers a great deal of money because they often result in serious injury, large amounts of property damage, and sometimes even death. When an accident occurs where a driver has violated the law, the insurer is likely to increase their rate substantially and may even cancel their insurance policy.

Another thing that affects whether an accident affects a driver’s insurance rate is whether they are enrolled in an accident forgiveness program. These programs vary among insurers, so be sure to read the fine print before you enroll in one. The basic principle behind accident forgiveness programs is to give enrolled drivers a “free pass” for their first at-fault accident by agreeing not to raise their insurance rate until their second at-fault accident. Availability of accident forgiveness programs is subject to state law, and eligibility is decided according to criteria set forth by insurers.

If you have been involved in an automobile accident, do not let your concern over car insurance rates prevent you from seeking prompt medical attention. This holds true regardless of whether or not you believe that you are injured, because injuries are not always readily apparent. Visiting a doctor right away creates a record of your injuries, which will help you to obtain compensation for any damages that you end up suffering as a result of your car accident.

The skilled Tennessee auto accident attorneys at Bailey & Greer, PLLC would like to know more about your recent automobile accident. We will evaluate your automobile accident case and answer any questions that you may have. We will also sit down with you to help you determine which course of action to pursue. We believe that the victims of automobile accidents deserve to be fully compensated for all of the injuries and damages that they have sustained, and we will help you to pursue the recovery that you deserve. Call our office today, at 1 (888) 470-9143 to schedule an initial consultation about your Tennessee automobile accident case. At Bailey & Greer, PLLC, we are small enough to care, big enough to fight, and experienced enough to win.

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