I rear ended a car a few months ago. Totally my fault, really cannot defend it. It was only cosmetic damage but it the claim paid just over grand to the person I hit. This was my first accident of any kind in over 20 years. I have Progressive, and had just switched over from another carrier about two months prior to that, if that matters.
Am I getting a huge (50%+) markup, or will this be a bit more palatable?
First Accident in 20 years of driving, how much is my insurance going to go up?
byu/BillyTSherm inInsurance
Posted by BillyTSherm
4 Comments
>I have Progressive, and had just switched over from another carrier about two months prior to that, if that matters.
Less worried about the premium increases and more that this is a first-term new business policy and you experienced a loss in what seems to be the first 60 days.
You have a realistic chance of being issued a midterm cancellation, but depends on the state and rules around midterm cancellations. What’s worse is that, when this happens due to a claim, it makes it a pain in the ass to find coverage with an open claim on file as it could very well not be closed by the time the cancellation would occur.
Assuming this doesn’t happen, you won’t know until renewal anyway, but it probably won’t be anything very significant if this is your first claim on record (losses/claims/violations that aren’t felonies are usually only maintained up to 7 years per the FCRA).
No one would have any idea what your increase will be or if they will choose to continue your policy. You will just have to wait and see.
Depends on the State also. Nobody here can tell you.
It’s going to go up, but no one can tell you how high. If it’s on your record, you can try to start getting quotes and see what they look like. That will give you an idea.