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Affect of Car Accident on Your Premium

It is not necessary that if you are accident prone you have to pay higher premiums for accidents affect insurance but however some accident might increase your insurance rates by 100% therefore it is impossible to determine that how much car insurance rates are affect by the accidents.

The affects of accidents on your car insurance are rate of premium might increaseFree Reprint Articles, you will loss all pertinent discount your and driving record is no more clean. When an accident occurs there are five numbers of ways that determine your rate of premium first is policies and guidelines of insurer means policies and rates are different for different auto insurance companies and in what manner how your insurer treats accidents that must be different from other auto insurance companies. Sometimes you might be forgiving for your first accident and sometimes they raise their rates higher than other. You have to pay higher rates until your record must be free from any accident and if you met with another accident your accident forgiveness may also removed by insurer.

Second factor is fault determination. The insurer investigate whether an accident involve third party or not and if it do not involve third party he considered you at fault for example you hit with pole in light and if third party comes into play the insurer charge over the degree of negligence. He may find that both the parties are legally responsible or not. Different rules are used to find different level of liability in accidents whether it involves one party or more.

Third factor is the causes of accident it means it depend upon the type of circumstances you are in when you met with an accident. If you are in harsh condition the insurer may be lenient towards you if accident forgiveness is not in effect for example if you hit the wall due to leakage of oil on the road the insurer may argue that such accidents can be avoided. Fourth factor is your driving record. If you’re driving record is clean or you have a flawless driving record over the period insurer might be lenient towards you.   

Fifth factor is cost and severity of accident. The increase in rate also depends upon extent of loss or damage in the vehicle after an accident. If compensation that is require to meet the damage of accident is below hundred dollars you might be forgive by an insurer.

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