The insurance company will determine the risk involved with your car by looking at the profile of the driver. They look at several factors such as how old are you, where you live, and more importantly your driving record. This means that having a history of traffic violations or accidents can rise your premium significantly.
How does my driving record increase the premium?
The premium will increase based on the frequency as well as the severity of the accidents or violations in your driving record. For instance, if you committed a major violation before, it’s almost certain that your insurance premium rise.
Minor violations will also affect your premium, but the increase would be little. In fact, for the first minor violation, some insurance companies will exempt you from a rate increase. The increase in premium usually ranges around 3-50%, but it can be higher or lower depending on your record.
The premium can go even higher after you have had an accident or violation because you won’t be qualified for safe-driving discounts anymore.
How long will the premium increase last?
Similar to how the insurance company calculates the increase in premium, the rate-increase will last for varying times depending on your accident or violation history. It also depends on how long the government records your traffic violations and accidents, because an insurance company usually base their decisions from records provided by them.
Lastly, there are regulations that limits how long can accidents and violations affect your rates. Note that even if your premium will increase for several years, after each year the amount of increase may go lower.
What if it’s not my fault?
Worry not, if an accident is not your fault, usually you’d be free from any premium increase. In some states, there are regulations that prohibits insurance from increasing your premium based on accidents that aren’t your fault. However, the insurance company will do some research to find out who’s at fault before deciding not to increase your premium.
Aside from your driving record, car insurance rates are highly influenced by the company providing the insurance. Selecting the right insurer will help you get lower rates, whether your driving record is clean or not.
At Viancas Insurance, we work hard in making sure that our clients are well-protected with policies that they can afford. To learn more about how we can help you, please contact our agency at (619) 799-9443 or Click Here to request a free quote.