Will Filing a Personal Injury Claim Raise My Insurance Rates?
Have you been injured in a car accident? If you have, you may come face to face with a mix of medical bills, lost wages, and a lot of stress. You may also be worried about taking legal action, wondering if you file a personal injury claim, will your insurance rates go up?
In this guide, our legal experts will take you through whether a personal injury claim raises your insurance rates. After all, nobody wants to seek financial compensation for an injury, only to end up paying for it through sky-high insurance premiums.
Will Filing a Personal Injury Claim Raise My Insurance Rates?
To put it simply: if you were not at fault in the car accident, filing a personal injury claim should not cause your insurance rates to rise. Despite this, the situation will depend on who you are seeking compensation from, as well as your state’s regulations.
Filing Against the At-Fault Party’s Insurance
Typically, you file a claim against the at-fault party’s insurance policy, not your own. As you are seeking damages from the party who caused your injuries, your insurance company is not paying out the claim. As a result, filing against an at-fault party in this manner doesn’t impact your personal premium rates.
What Happens If You Use Your Own Insurance?
Sometimes, you may need to involve your own insurance company. For example, this could be the situation if you were involved in a car accident with an uninsured driver or if your insurer initially covers medical payments while liability is established.
In Georgia, insurers are prohibited from surcharging a policyholder’s premium or annulling their policy because they were involved in a multi-vehicle accident in which they were not at fault.
When Could Rates Potentially Increase?
There are situations in which your insurance rates could increase. Let’s discuss these in more detail.
· Comparative fault
If you were partially responsible for the vehicle accident, your rate may be adjusted based on shared fault.
· Statewide rate adjustments
Insurance carriers can adjust rates statewide across all policyholders due to factors like inflation, economics, or general risk trends.
Contact The CP Law Group Today
Don’t allow the fear of an insurance rate hike prevent you from pursuing the compensation you deserve for your injuries, pain, and financial losses. Here at The CP Law Group, we know that navigating insurance communications and state laws can be complicated, but working with an experienced personal injury attorney ensures your rights and interests remain protected. If you’ve been in a vehicle accident, reach out to our team today. Our personal injury attorneys at The CP Law Group are always happy to aid clients with their personal injury cases and provide legally sound advice throughout the process.
For a free, no-obligation consultation, call us at 844-546-4878 or explore what we do on social media @TheCPLawGroup.