Does Insurance Go Up If Accident Not Your Fault

Does Insurance Go Up If Accident Not Your Fault – If you have recently been in a car accident, but it was not your fault, new questions may arise that you have never considered before. Especially when the situation starts to improve.

However, your insurance may increase as a result of a no-fault accident. This can be due to 3 reasons:

Does Insurance Go Up If Accident Not Your Fault

Fortunately, there are ways to prevent your insurance from going up if the accident was not your fault.

Free Car Accident Release Of Liability Form (settlement Agreement)

Determining this starts before you file an accident claim. This is when you can help increase your insurance chances if the accident was not your fault.

Are you now wondering if your insurance will increase if the accident was not your fault? Read on to find out more or speak to our Accident Management team today on 0330 128 1407 to find out how we can help.

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Does an accident increase insurance rates?: Reasons why your insurance may increase if the accident was not your fault

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After the accident, you contact your insurance company directly and process a claim, and while the claim is still being processed, your next insurance renewal arrives.

This is a difficult situation, and one that many guilty drivers find themselves in. It is also a situation that can be avoided by making a more informed decision after the accident.

The first knee-jerk reaction after any accident is to talk to your insurance company as the first port of call.

If you were at fault in the accident, the right step is to talk to your insurance company because it is the at-fault driver’s insurance that the case will be settled with.

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However, if the accident was not your fault, calling your insurance company is not the most beneficial first port of call to make. If you call your insurance first, the accident claim will be initiated against your insurance.

As a result, your insurance company will usually immediately file a pending claim against your insurer.

When this happens, an active risk level is added to your insurance policy as a pending claim. In other words, if the at-fault driver’s insurance policy does not provide 100% damage coverage, your policy risks covering some, if not all, of the damage costs, expenses, and losses.

If your upgrade is imminent during this pending phase, the upgrade price will usually reflect this risk at an additional premium.

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An accident trial can be known to take up to several months or more depending on the circumstances.

For many drivers, this is an unpleasant, yet common surprise; especially considering the accident was not your fault.

A solution to this problem that no-fault drivers can choose to avoid this insurance rate increase is to work with an Accident Management Company (also known as a Loan Leasing Company).

An Accident Management Company offers professional, independent claims management services at your side. When your vehicle is repaired you get expert advice as well as a replacement vehicle. This is known as Credit Leasing and is free of charge to you.

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This process eliminates the need to pay your premium to start a claim, but most importantly means you don’t have to start a claim with your policy.

The Accident Compensation Company works with the injured driver’s insurance company on your behalf to pursue the claim and claim all costs, expenses and losses directly on your behalf.

To understand how a no-fault claim process through an accident handling company compares to your insurance company, read the accident vs. your insurance company comparison chart here.

Some insurers will reduce, if not eliminate, your no-claims bonus if you initiate a no-fault claim directly through your insurance company.

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Losing your no-claims bonus can cause your insurance to go up, even if the accident wasn’t your fault.

Even if this is not directly attributable to the accident, it can still cause your insurance premium to increase due to the loss or reduction of your no-claims deductible.

Losing some, if not all, of your no-claims bonus also means you have to build up a no-claims bonus over many years and pay higher insurance premiums over time.

To prevent this, an accident claims management company will only file claims directly from the at-fault driver’s insurance policy. As a result, your own insurance policy and any claim bonus will not be affected by the claim.

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By now you understand how you can answer the question of what your insurance will pay if the accident is not your fault for reason 1; working with an accident management company is the first step to avoiding an increase in your final insurance premium.

However, once your no-fault claim has been completed by the accident company, your insurance company must be notified of the accident claim.

During the Accident Management process, our team will update your insurance company with the details and outcome of the claim.

Your claim, even if declared as not your fault, will still be documented and stored in various insurance databases, such as Claims and Underwriting (CUE). Damages, even non-faults, are considered when renewing insurance up to 5 years after they occur.

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After determining the damage, the risk is calculated according to the non-fault accident conditions. Some insurance companies believe that because you have been in a car accident, you are more likely to be in another than someone who has not been in one.

An example of this is: if your car was hit while you were parked on a road where you often park, the road may now be considered a less dangerous road, and because your car is parked there, there is a risk that, if it happens again it can be as high as it was the first time.

Another example could be: if your no-fault accident happened on your usual route to work in rush hour traffic, there is a possibility that your morning commute will be classified as a more dangerous route than previously thought and thus the risk which depends on your policy. . involves an additional premium.

However, if you are in a no-fault accident and then see an increase in your premiums once the case is settled, it is encouraged to try to get an increase with your current insurance provider.

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If your insurance provider can’t provide a reasonable reason for the increase, can’t reduce coverage or directly link it to your no-fault accident claim; it might be a good idea to shop around for a better offer.

The insurance market is a very competitive market and it is very likely that you will find a better price for your annual car insurance quickly and easily; especially by using an insurance comparison site like:

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Will My Insurance Rate Increase After A Not At Fault Accident?

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