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Old 01-01-2009, 11:07 PM   #1
dbworld4k
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Insurance adjustments after claims



How does this work? Example: you are in an at fault accident with a few grand worth of damages (ie. 3-5k) but no other cars are involved, how does this factor into what your new monthly premium will be if you go through insurance? Is there an industry standard like 10% per yr increase for x amount of years, or is there another method? Any generally applicable info would help.
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Old 01-02-2009, 02:06 PM   #2
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Nobody?

Any insurance adjusters on this board?
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Old 01-02-2009, 02:14 PM   #3
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It all depends on the insurance company.

Some of the cheaper ones, drop the star rating right down after an at fault accident, which jacks up your premiums at renewal.

For example, Belair used to take a 6 Star driver, and drop you to a 1 Star after an at fault accident (Beginner driver). That's just crazy. While I was shopping others would drop you only to a 5 Star driver.

Some of the better insurance companies, will remove the 10% good driver discount until the at fault accidents rolls off your profile.
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Old 01-02-2009, 02:57 PM   #4
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I see. Any idea on how long the accidents are retained on your profile?
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Old 01-02-2009, 03:30 PM   #5
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belair dropped me right down to 1 star
and it lasts bout 6 yrs i think

(bunch of ****ing crooks)
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Old 01-02-2009, 11:10 PM   #6
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accidents stay for 5 years and tickets for 3
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Old 01-02-2009, 11:21 PM   #7
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either way they will find a way to screw you, esp if you are under 25.

I'm guessing your not old enough to have forgiveness for one at fault accident?
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Old 01-02-2009, 11:45 PM   #8
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Quote:
Originally Posted by VSanj View Post
accidents stay for 5 years and tickets for 3
From date of offense, or conviction?
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Old 01-02-2009, 11:51 PM   #9
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Quote:
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From date of offense, or conviction?
conviction because it is noton your record until convicted.
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Old 01-02-2009, 11:53 PM   #10
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Well doesn't that just suck royal donkey nutz.
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Old 01-03-2009, 02:27 AM   #11
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Always shop around after an accident. Because you'll always get a cheaper quote from another insurance company rather than yours in the end. After I totalled my car. TD brought my insurance way up. After I looked around State Farm gave me a better quote than I had before I was in an accident. =D
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Old 01-03-2009, 03:04 AM   #12
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either way they will find a way to screw you, esp if you are under 25.

I'm guessing your not old enough to have forgiveness for one at fault accident?
I seriously doubt I have forgiveness from TD. But, who said this was for me? I'm just asking a few Qs as my mom was in a t-bone crash 2 weeks ago and we're trying to figure out what the hell is gonna happen, just so we know what to expect. I'm hearing a range of statements as to how insurance companies operate so I was hoping (yeah... on MAX of all places) that I'd get some more credible info here!
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Old 01-03-2009, 03:34 AM   #13
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That forgiveness is active if you are with State Farm, but you have to be 3+ years with them.
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Old 01-03-2009, 10:30 AM   #14
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But, who said this was for me? I'm just asking a few Qs as my mom was in a t-bone crash 2 weeks ago .

T-Bone? but you said no other cars involved?

Are you sure it isn't for you?
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Old 01-03-2009, 11:08 AM   #15
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If you have had no accidents for 6 - 10 years (depending on ins. company) everybody should inquire about "accident forgiveness". The OPCF 52 addition to your policy will cost you about $50 - $100 a year and give you one accident "free". In some cases you only drop one rating point. Also in most cases your premium will not be affected.

If you have another accident within another 6-10 years then you will be demoted to a single "star" and each year after that accident free you will gain a "point" back until you get back to 6 - 10 "stars".

Remember that single vehicle accidents, or making a claim involving hitting ANYTHING on the road (unless it hits your car first before the ground ie falling off a truck) is considered at fault and would be part of the rules listed above.
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