Ok. You’ve been in a fender bender and luckily there were no injuries. Should you file an at-fault claim with your insurance carrier?
Did you know that filing a single at-fault claim after a car accident can increase your premium costs 38% for a first claim and double them if you file a subsequent claim. Did you also know that if you’re young with either a bad driving record or a bad credit record – the financial hit will be even greater?
Here is another sobering fact – accident claims typically stay on your driving record for a period of three to five years.
Troubling – right? Given these facts – one has to wonder whether filing a claim for a few hundred dollars makes sense.
Do different claims result in different premium penalties? Yes…
If you are in a car accident that was not your fault – chances are good your carrier will not raise your rates. Claims filed for theft or storm damage (including hail) often go without much of a penalty as well. But cause bodily harm or significant property damage and your rates will go up considerably.
Where you own your car and carry insurance also matters. If you live in a state like Massachusetts and file a claim for a car accident – expect a big jump in your premiums.
Here is the car insurance each of us is required by law to carry in Connecticut. A failure to carry the minimum levels of insurance can result in fines and registration suspensions.
Liability car insurance at the following minimum limits:
- $20,000 for bodily injury, per person per car accident.
- $40,000 for bodily injury, total per car accident.
- $10,000 for property damage per car accident.
Uninsured/underinsured motorist coverage must have the minimum coverage amounts of:
- $20,000 per person.
- $40,000 total per accident.
Uninsured/underinsured motorist coverage is important to help with your medical bills after an accident caused by either:
- An uninsured driver OR a driver who does not have adequate insurance coverage to pay your medical bills.
Uninsured and underinsured motorist coverage is required by law in Connecticut on all automobile liability policies. This coverage protects you and your family against the risk of being harmed by a driver with no insurance or inadequate insurance. This coverage is typically reasonably priced and you should talk with your insurance advisor or a lawyer experienced in this field about the amount and type of coverage which is right for you. One of our Attorneys, Michael Jainchill, actually “wrote the book” on this coverage in Connecticut – it’s called: Connecticut Uninsured and Underinsured Motorist Coverage: A Guide.
The Connecticut car accident lawyers at RisCassi & Davis have been assisting drivers who’ve been in an accident for almost 60 years. And we have received both state and national recognition for our work in this area. If you are ever in a car accident of any kind and would like a free consultation with one of our Connecticut car accident lawyers, please contact us today. There is no obligation of any kind.