Ebene Kagan : Does an auto insurance claim affect my auto insurance premium since when I did compare auto insurnace quotes my auto insurance quote was higher?
I live in New York city.

Compare auto insurance quotes or review car insurance if invloved in auto accident.

Response : Auto accidents are unfortunate events and this is the main reason why one goes for an auto insurance policy. It is a fact that in case you are involved in an auto accident and the accident falls within the perview of the insurance company they would settle your claim and reimburse you. In cases where someone is hurt or a fatal accident the financial loss can be much higher for the insurance company.

Insurance companies have their own underwriting guidelines which they follow, however the reality is that if you are involved in an auto accident the insurance premium would increase in the subsequent year on account of the claim. The quantum of increase in the auto insurance premium is not directly proportionate to the claim paid, however there is an increase in the premium.

Now as per the recent news in New York and Florida the number of staged claims are on the rise and those staging the claims involve incoent drivers in tha accidents.

Suspicious insurance claims from staged accidents are on the rise— and nowhere more than in New York and Florida, two states with no-fault statutes.

Overall, the number of questionable claims from staged accidents increased by 46.3 percent from 2007 to 2009, according to the National Insurance Crime Bureau (NICB)

Additionally, the ratio of staged accident claims to overall bodily injury (BI) and personal injury protection (PIP) claims has increased over this period while the total number of BI and PIP claims has declined.

You will be suprised to know that Florida and New York are ranked first and second, respectively, in the top 10 loss states and five of the top 10 loss cities.

The top five states that generated the most staged accident questionable claims are: (1) Florida, 3,006; (2) New York, 1,680; (3) California, 1,619; (4) Texas, 792; and (5) Illinois, 433.

The five cities that generated the most staged accident questionable claims are: (1) New York City, 1,304; (2) Tampa, 562; (3) Miami, 511; (4) Orlando, 422; and (5) Houston, 376.

Staged accidents target innocent drivers with schemes aimed at defrauding the insurance company. This would mean that you need to be more aware on the road when you are driving. Avoid tailgating at all cost and also note down all the details of the oppoiste driver and details of the claim in case you get involved in an auto insurance accident. Unfortunately, there is nothing which can be given to distingush between a genuine claim and a fraud and hence you need to be careful.

It would be best to compare auto insurance quotes online here or at any other web-site of your choice review car insurance coverage to get low auto insurance rates.

Thanks.
Kamlesh

Susan Boyle :Is it advisable to compare auto insurance quotes or review car insurance after an accident to get low auto insurance quotes in the future? Will the other insurance company know of the auto accident from my present insurance company?

Compare auto insurance quotes or review car insurance after an auto accident.

Response : Honestly, it is advisable to compare auto insurance quotes or review car insurance atleast 2 -3 times in a year so that you are informed of the changes that are taking place in the market and secondly it is very important to review car insurance if there is any change in your position in relationship, fiancially, you have taken a new job, you have changed residence or you have a different car.

When an accident ocurrs the first thing is getting your claim settled as soon as possible. Now if it is an own damage claim – for your vehicle it would be settled fast. If it going to be a liability claim than it would be more advisable to stick with the present insurance company since even moving else where might not be gainful to you in terms of premium.

You should first check up with the insurance company and your policy wordings if you have accident forgivness coverage. In this case your first accident is not going to affect your insurance premium.

Yes, your auto insurance premium would be affected by the auto accident and so it is important to compare auto insurance quotes and secondly review car insurance coverage since you might find out that the limits you have presently are not sufficent to cover liability that could arise if you end up paying out of pocket for the claim.

The insurance companies have the privacy norms and so will not tell one another about claims, however it is your duty to disclose the claim or else it is considered misrepresntation and your auto insurance policy can be cancelled or voided by the insurance company.

The prudent thing to do is to compare auto insurance quotes and review car insurance if you are looking for low auto insurance rates at every opportunity and make a wise decision. You can help your family and friends since who does not want low auto insurance rates?

Thanks.

Taylor Swift : Can you save on your future premiums if you switch to a different insurer after an accident?

Response : Once you have had an accident even if you change your insurers, your premium will be surcharged. If you have a forgiveness clause in your policy and this is the first accident you will not be charged higher. Generally the surcharge ranges from 15%-35% over a 3 year period.Secondly,if you try to switch companies you WILL NOT qualify for preferred rates and you will receive standard rates which will usually be higher than you old rates + the surcharge.
That being said it is still possible to save on auto insurances and one should be constantly on the look out for savings, since there are number of ways the premium can be saved :
1) Having higher deductible as indicated.
2) Having safety features installed – like airbags, alarm system if not already installed.
3) Decreasing the mileage – use by car pooling.
4) Online discounts
5) Placing all policies with one insurer – home and auto or all auto polices with one insurer.
The insurance rates are also dependent on the claims experience of the insurance companies so shopping around is certainly a good idea. Compare auto insurance quote online and you will be suprised how much you can really save, although you have a claim. Remember that the auto insurance rates are dynamic and do keep on changing depending upon a lot of factors.

Larry : Will my car insurance cover renting a car after an accident?

Reveiw car insurance for rental coverage:

Response : It is best to compare auto insurance quotes and equally important to review car insurance quotes at the time of taking the insurance. Most people do not think that it is important to review car insurance coverage when thy buy insurance. Most of them start to review auto insurance coverage until after they have an accident. After a vehicle accident they call their insurance company to file a claim to help pay for car repairs, a rental car and other expenses.

Sadly, many insured drivers are surprised to find out that their auto insurance does not automatically cover the cost of a replacement rental car after an accident. It takes about 2 -3 weeks on an average for a car to be repaired in the repair shoe. It can cost as much as $500 to rent a replacement car. But, some insured drivers pay little or nothing to rent a car because of an inexpensive but often overlooked option known as rental reimbursement.

Rental reimbursement coverage is available for only $1 or $2 a month with almost every auto insurance policy. It is frequently not taken by those who believe they will not have a car accident or those shopping only for the lowest cost premium. The cost of a rental replacement car adds up fast, so even if you don’t have an accident for eight or nine years, the coverage pays for itself when you need it most.

Sometimes working out the details of a claim with the auto insurance company can take time. Even if the accident is the other driver’s fault, you may have to wait several days or longer to get the other insurance company to agree to pay for a rental car. With your own coverage, there is no waiting.

Here is a tip compare auto insurance quotes and review car insurance coverage befor you buy insurance and make an informed decision.

Jackson (Pennsylvania ) I Have No-Fault Insurance, so I’m not at fault for an accident?

Response : The meaning of a No- fault insurance coverage in an auto insurance policy means that if you are involved in a car accident and you are injured or your vehicle is damaged than you have to deal with your own insurance company, irrespective of the fact whether you or the other driver is at fault. This is to ensure that you will get the financial help from your own insurance company for your injuries or damaged auto, rather than waiting for any decision of who is at fault and settlement from the other insurer.

In US this law differs in each state. Kentucky, New Jersey and Pennsylvania -permit their policy holders to choice between the traditional tort (file a suit against the wrong doer) and no-fault recovery regimes. The policy holders can select “choice” or “optional” no -fault, or “full tort” and “limited tort” (no-fault) In both Kentucky and New Jersey, if no choice is made by the policy holder than no-fault option is given by default. In Pennsylvania if an insured fails to select than the full-tort option is assigned by default. Some states have repelled the no-fault system but Florida has created a new no-fault system as of January 1, 2008.

Review car insurance coverage and find out if your auto insurance policy has “no fault:. If you donot, compare auto insurance quotes online but be sure to choose the correct option avaliable for “no-fault” depending upon your state.