If you’ve ever had the unfortunate experience of a car accident that you caused, then you know that the headache doesn’t end at the accident scene. If you were at-fault in a crash, you can expect an insurance rate increase – which can sometimes be significant.
And in Louisiana, you can expect a higher insurance rate increase than most other states. Louisiana is one of the top 5 states with the highest increase in premiums following an accident.
In Louisiana, on average, a driver’s insurance will go up about 50 percent after an at-fault accident. And typically, it takes three-five years for those rates to go down after an accident claim.
What kinds of claims will cause the highest insurance rate increase?
Research shows that accidents with bodily injury will raise your insurance premiums the most. This makes sense, as bodily injury payments can include medical bills, lost wages, lost quality of life, and more.
Conversely, a comprehensive auto claim – hitting an animal, a tree falling on your car, etc. – will cause your premium to rise the least.
How can I try to lower my premium if this happens?
If you’re not comfortable with your insurance rate increase after an accident or moving violation, there are some things you can do to try and lower your premium:
- Ask about accident forgiveness: Not all insurance companies offer this feature, but some will forgive one accident for which you were at fault, as long as you meet certain requirements.
- Increase your deductible: The lower the deductible, the higher your insurance premium, and the higher your deductible, the lower your premium. If your premiums go up significantly, talk to your insurance agent about increasing your deductible to lower your premium. Just make sure your deductible is an amount you can afford should something happen.
- Only file major claims: Your insurance company will base your insurance costs on your risk score and how much you may end up potentially costing the company. If you submitted a claim not too long ago, consider avoiding smaller claims for a while to decrease your risk score.
- Keep good credit: Your premiums are based, in part, on your credit score. If you can increase your credit score, you may be able to negotiate a better rate with your insurance company.
How can a personal injury attorney help me with an insurance rate increase?
The most important way you can potentially avoid an insurance rate increase is to contact an experienced attorney who can review the case and look for ways to decrease how much your insurance will pay out.
Even if the auto accident that caused your insurance rate increase was your fault, there are still things you can do to help your case. Your attorney may begin by seeing whether the other driver’s or drivers’ actions played a role in the accident, as well.
Give us a call at Wright Gray Personal Injury Firm
If you’re worried about how your accident could affect your insurance rates, contact Wright & Gray personal injury attorneys today for a consultation.