Even the most careful drivers in Texas run the risk of a car accident every time they get behind the wheel. There are many negative impacts that can come from a collision, including physical injuries, damage to the vehicle and financial consequences. One of the financial impacts that commonly follow an accident is the increase of insurance premiums.
What factors impact rate increases following an accident?
Not all accidents are equal in the eyes of insurers, and certain ones may result in a higher rate increase. For example, a person who has made more claims and has a shorter driving history will likely see more of an increase. Premiums increase an average of $750 following an at-fault accident, though a person’s location, insurer, and driving history can make that number higher or lower.
How long will premiums be higher after an accident?
At-fault accidents typically remain on driving records for three to five years. The exact amount of time varies between states; in Texas, most accidents will stay on for three years. A crash due to a DUI or reckless driving will be treated differently, however.
Fault is a significant factor in the increasing of insurance following a crash, so if fault is not particularly cut and dry, it can be a good idea to discuss the fault situation with an experienced Texas lawyer. Another situation where legal guidance could be sought is in the case of an injury. A lawyer can help victims hurt in a car accident seek restitution for many of the costs associated with their injuries. These are some reasons why it is common for people to seek legal counsel following a car accident.