One of the most common questions we hear from clients is, “Will my insurance rates go up after a car accident?” In the aftermath of a crash, it is natural to want to know how much this will cost you and your family.
Even if you are not to blame for the accident, you might find that your insurance rates rise. What can you do about it? Can you prevent the insurance company from raising your rates after a car accident in Colorado Springs?
When an Insurance Company CAN Raise Your Rates
Even if you’re not at fault for an accident, your insurance rates could still go up. This is because accidents (even minor ones) are considered to be a risk factor when it comes to setting insurance premiums.
Insurance companies use data and statistics to help them determine how likely it is that their customers will get into an accident, and those who have been in an accident before are usually considered to be a higher risk.
An insurance company can choose to raise your rates at any time and for a lot of reasons, including:
- Increased number of claims in your area
- Lower credit scores
- Numerous claims in a short time
- Life changes
- Professional changes
- Driving more miles in a year
When an Insurance Company CAN NOT Raise Your Rates
There are some situations where your rates may not go up after an accident. In Colorado, insurance companies are not allowed to raise your rates or cancel your policy for these reasons:
- Claims for medical payments
- Claims for uninsured motorist benefits or collision coverage
- Claims for comprehensive coverage
- Traffic citations with no conviction
Injured accident victims can also take steps to prevent their rates from rising, such as by completing a defensive driving course or by maintaining a clean driving record.
If your insurance rates go up after a car accident, it is important to speak to an experienced Colorado Springs car accident lawyer about your accident. Your attorney can review your case and determine if the insurance company acted in bad faith by raising your rates.
Contact Our Colorado Springs Car Accident Law Firm Today
Our Colorado Springs car accident attorneys can help you get your life back together after a serious car accident. When insurance companies turn their backs on you, you can rest assured, knowing you have someone on your side fighting for you. Let us do what we do best, so you can focus on your recovery. Contact the Green Law Firm, P.C. today by calling (719) 694-8515, or by filling out the contact form on this page, to schedule a free, no-obligation consultation and discuss your case.