Being hit by a car that flees the scene is definitely every driver’s nightmare. Beyond the hassle of damaged property and the injustice of sustaining injuries from a car wreck that isn’t your fault, dealing with your insurance company after a hit and run can be a huge headache. Even if you’re not to blame for a hit and run accident, you could see hikes in your insurance rates.
If you have been injured in a hit and run accident, our Baton Rouge personal injury attorneys may be able to help. In addition to fighting your insurance company for fair compensation, we can open our own investigation to help find the driver who injured you and fled the scene. For example, we can subpoena images and video from traffic and business surveillance cameras to help hold hit and run drivers responsible.
Insurance Rates After a No-Fault Accident
Being involved in any type of accident could increase your insurance rates. Unfortunately, it’s difficult to determine if, and by how much, your rates could increase because prices vary from state to state and from carrier to carrier.
In many states, claims are filed against the at-fault party, which means the person who caused the wreck and their insurer is responsible. Unfortunately, hit and run accidents where the offending driver is not identified, means the victim has to file insurance claims with her or her own insurance. While the rate increases may not be as high as an at-fault claim, policyholders could still see higher premiums.
Another aspect that can affect insurance rates after a no-fault accident is the driving history of the no-fault driver. If this driver has had wrecks or traffic tickets in recent years, they may see a rate hike because insurers took overall driving history into account.
No-Fault Insurance Hike: What to Do
If you see your insurance premiums jump after a no-fault accident, call your policy carrier to make sure your accident was recorded as a no-fault wreck. If this is a clerical error, you might be able to get a lower rate. If not, you will need to shop around. Shopping for insurance can help you get a lower claim as some companies may not penalize you for no-fault accidents. It’s helpful to have a copy of your current policy with you so that you can ensure you’re evaluating comparable policies that offer the same coverage.
If you’re having trouble finding a policy within your budget after shopping around, consider:
- Comparing rates with smaller insurance companies; sometimes smaller companies offer significantly lower rates than larger ones.
- Bundling other policies such as renter’s, homeowner’s, and/or life insurance with your car insurance for a discount.
- Raising your deductible. A $1000 deductible could yield much cheaper premiums than a $500 deductible.
- Work on raising your credit score. While building a great credit score takes time, it can result in lower insurance rates in the future.