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How Long Will Accident Affect Insurance Rates?

Auto accidents are scary events in anyone's life

, however, the aftermath of an auto accident is even scarier! People tell tales of their insurance rate doubling or even losing their car insurance entirely as the company refuses to insure them anymore. Cutting past the rumors, how long will accident affect insurance rates?

The first thing you will need to know is who was at fault. This varies by state, so be sure to look it up if unsure who was at fault. Luckily, if you're not the one at fault for the accident, then you will be unaffected. However, if that is not the case, you will start seeing the effects within a month.

As a special note, if you get into a collision with an emergency vehicle such as an ambulance or a police car, you may not be found at fault. Many states recognize that emergency vehicles do not always follow the traffic laws in the rush to save lives and so you will have nothing to worry about.

Things that will effect the rates change will include if anyone was injured, how much damage was done to the car, and if anyone was under the influence of substances at the time of the collision.

Generally if nobody was injured, then there will be less of an impact on your rates than if someone was injured. Unfortunately, many people do not start showing signs of injury immediately so you may not know right away if anyone was injured. Your company will tell you if there is an injury payout awarded and will change your rates accordingly.

If neither car was damaged, there will by no change to your rates. Minor damage sometimes is waived as well, so be sure to look into things if very little harm was caused. Major damage or totaling a car, however, will always result in a rate increase.

If you're found to be driving under the influence, then you are in big trouble. In most states driving under the influence can cost you your license, your car, and lots of money. You could even go to prison if someone was hurt in the process! Do not drink and drive. Even one drink can cause you to lose everything.

In the end, how long accident affect insurance rates will be directly impacted by how much damage was done. Lesser offenses can wear off within 3 years, so do not be shy to ask your company for more details.

by: Lance Thorington
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