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Ask an Attorney: Does Making a Claim on My Uninsured Motorist Coverage Raise My Rates?
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Ask an Attorney: Does Making a Claim on My Uninsured Motorist Coverage Raise My Rates?

Ask an Attorney: Does Making a Claim on My Uninsured Motorist Coverage Raise My Rates?

At The Law Offices of Larry H. Parker we get many questions from clients who are not sure how the decisions they make immediately after a car accident will affect them in the long run. One such question is regarding their uninsured motorist coverage. With liability policies, if you do have a claim against your insurance then your insurance is likely to go up. The good news about uninsured motorist coverage is that this is not the case.

Keep reading to learn more about why your insurance rates don’t go up with an uninsured motorist claim, and the few examples that can vary. Then contact The Law Offices of Larry H. Parker at 800-333-0000 for a free legal consultation.

Understanding Why Insurance Rates Go Up After an Accident

To better understand why your insurance rates are not likely to up after making an uninsured motorist claim, consider why they go up on a normal claim: Because your insurance carrier believes you are a bigger risk. Your premium is determined by how safe a bet you are and if you have multiple accidents, then they believe they run a higher risk of having to pay out for another accident.

On the other hand, uninsured or underinsured motorist claims are only made when you are not the at-fault party. As a result, there is no reason for your insurance company to believe that it makes you a higher risk. Note that insurance companies do not charge you more money based on what they have paid in the past – your premiums are dependent on their estimates of what you are likely to cost them in the future.

There Are Exceptions

Though your insurance isn’t going to go up immediately after making an uninsured / underinsured motorist claim, note that this does not mean you can make many claims without consequence. If you were to get into three or four accidents within two or three years, and on each of them you made an uninsured / underinsured motorist claim, then your insurance company may find that you are a higher risk. Despite the fact that these accidents were found to be someone else’s fault, they may view you as higher risk when you are continuously involved in accidents.

We Strongly Encourage You to Get Underinsured / Uninsured Motorist Coverage

For most people, adding on underinsured or uninsured motorist coverage is not a huge cost but it can be a lifesaver if you are involved in an accident. At The Law Offices of Larry H. Parker we can fight for your rights when you are in an accident, but if the at-fault party does not have liquid assets themselves, we may only be able to get what their insurance company allows.

If you were to suffer a serious injury, you could exceed the maximums on a policy faster than you may think. If you have been put in this situation then you can call us at 800-333-0000 for your free legal consultation.

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