Insurance rates after one accident?

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Insurance rates after one accident?
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Insurance rates after one accident?

On the average how much would the insurance go up for one at fault accident, just an average.

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UCANTCME

It's a difficult question to answer because auto insurance companies vary on how much and whether they will raise rates after one accident.

But many auto insurance companies follow the Insurance Services Office's (ISO) standard of increasing a premium by 20 to 40 percent of the insurer's base rate (not your current rate) after your first at-fault accident.

A base rate is the average amount of claims paid plus the insurance company's claims-processing fee. According to the ISO, for multicar policies the surcharge is 20 percent of the base rate, and for single-car policies it is 40 percent.

MARSHA G

From my experience, if you stay with the same carrier, they frequently will not increase your rates at all if you have a good history prior to the accident. If you change carriers, the cost is approximately 1/3 more.

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