• Home
  • Get A Quote
  • Customer Service
  • Refer a Friend
  • About Us
  • Location Map
  • Employee Directory
  • Privacy Policy
  • Contact Us
  • Customer Portal
Tulsa and Muskogee: 800.259.4677 | OKC: 800.699.5905 | After HRS: 866-292-0953
Home
Customer Portal

 

  • Blog
  • Customer Service
    • Make a Payment
    • Request ID Card for Auto Policy
    • Request General Liability Certificate of Insurance
    • Request Evidence of Insurance
    • File a Claim
    • Property Loss Claim Form
    • Auto Accident Claim
    • Important Links
    • Insurance Glossary
  • Get A Quote
    • Workers Compensation
    • General Liability
    • Business Owners (BOP)
    • Bonds
    • Commercial Property
    • Homeowners
    • Automobile
    • Motorcycle
    • Farm
    • Watercraft
    • Health
    • Life
    • Annuity
  • About Us
  • Contact Us
    • Contact Us
    • Employee Directory
    • Our Locations
  • Home
    • Home Page
    • View our Blog
    • Join Our Newsletter
    • Refer a Friend
    • Privacy Policy
Business Insurance BUSINESS

Discover the perfect insurance options to meet your unique needs.

Read More
Workers Compensation Insurance WORKERS COMP

Finding insurance doesn't have to be difficult. We do the work for you.

Read More
Auto Insurance AUTO

Insurance that protects you against financial loss with accidents.

Read More
Homeowners Insurance HOME

A standard policy insures the home itself and the things you keep in it.

Read More
Life Insurance LIFE

Browse a variety of insurance options in order to find the right one for you.

Read More
Health Insurance HEALTH

Learn about different health coverage options that fit your needs.

Read More
Home > Blog > How Your Claims History Determines Your Auto Insurance Premiums
THURSDAY, NOVEMBER 7, 2019

How Your Claims History Determines Your Auto Insurance Premiums

Your driving record is one of, if not the most, important factors considered by your auto insurance provider. The more of a risk you are, the more you’ll need to pay for premiums. In most cases, your insurer will re-evaluate your car insurance rates following an accident claim.image of car insurance claim form Even a simple moving violation, if you’re at fault, can be costly.

How Much Does Your Record Matter?

In most cases, it matters a lot. A 2017 Quadrant Information Services study concluded that car insurance claims averaging $2,000 in cost can increase rates by over 44 percent. But which aspects of your driving record hold the most weight? Premium price increases tend to occur in these scenarios:

  • At-fault collisions
  • High-cost damages
  • Living in a no-fault auto insurance state
  • Filing multiple claims

Again, an accident is more likely to increase your premium cost if you were responsible for causing it. If you were responsible, your policy provider can assume they’ll need to pay for additional claims in the future.

Sometimes, Claims Don't Increase Car Insurance Costs

It’s possible to file a car insurance claim without expecting heavy-hitting premium costs in the future. Insurers are rather reasonable when considering accident severity. They’ll pay attention to any factors justifying a price increase—but they’ll pay attention to alleviating factors, too.

You’re in luck if you’ve maintained a clean driving record, too. Minor accidents, not-at-fault collisions and minor damages might not be an issue if you’re an otherwise reliable investment. Your rates also won’t go up if:

  • The other driver is at fault
  • Your auto insurance policy offers accident forgiveness
  • You’ve never filed a claim with your current insurer

Hidden Factors to Consider

Your record’s impact on premium prices might seem straightforward, but there are still several pitfalls to be aware of. If a claim has increased your rates, it’ll follow you for three years in terms of price consideration. Even if you switch car insurance companies, they’ll still count past incidents against you.

Auto insurance providers compare quote requests. There are a lot of drivers, out there, and many have a claims history. As such, any car insurance rate increases you’ll see may be proportional to the histories of their other drivers.

The final factor to consider is that of minor collisions. Sometimes, it’s tough to determine whether to file a claim at all. Maybe the damage amount is close to your deductible. Or, perhaps you can cover costs out-of-pocket. Can you avoid future hassle by not disclosing these minor infractions?

Probably not. Contact your auto insurance company whenever you’ve been in a collision. Even if damages are minimal, and even if you haven’t filed a claim, the other driver might have. The fewer details your provider has, the more difficult it’ll be for them to justify coverage. Plus, your insurer might even cancel your car insurance policy if you withhold information.

Your insurer is here to help. If you’re concerned about your claims history, give them a call. It’s possible to get a prospective outlook on future rate increases. It’s also possible to create a financial plan which makes it easier to pay for your auto insurance coverage. Ask about your insurer’s options, and connect with them about your driving history. You might even find several cost-saving options.

Also Read: 5 Tips for Teaching Teens How to Drive in Bad Weather

Posted 9:48 AM

Tags: auto insurance
Share |


No Comments


Post a Comment
Required
Required (Not Displayed)
Required


All comments are moderated and stripped of HTML.

NOTICE: This blog and website are made available by the publisher for educational and informational purposes only. It is not be used as a substitute for competent insurance, legal, or tax advice from a licensed professional in your state. By using this blog site you understand that there is no broker client relationship between you and the blog and website publisher.
Blog Archive
  • 2023
  • 2022
  • 2021
  • 2020
  • 2019
  • 2018
  • 2017
  • 2016
  • 2015

  • business insurance(38)
  • home insurance(12)
  • auto insurance(9)
  • life insurance(8)
  • tips(7)
  • insurance(6)
  • workers compensation insurance(4)
  • general liability insurance(4)
  • coverage(4)
  • workers compensation(3)
  • health insurance(3)
  • business(2)
  • motorcycle insurance(2)
  • farm insurance(2)
  • boat insurance(2)
  • contractor insurance(2)
  • e and o insurance(1)
  • prevention(1)
  • auto insurance deductibles(1)
  • oklahoma city farm insurance(1)
  • protection(1)
  • workers comp(1)
  • claims(1)
  • retirement(1)
  • general liability(1)
  • passenger accidents(1)
  • income(1)
  • car insurance(1)
  • safety tips(1)
  • new business owners(1)
  • when should i buy life insurance(1)
  • oklahoma city home insurance(1)
  • side(1)
  • oklahoma city business insurance(1)
  • commercial(1)
  • business property(1)
  • auto insurance in oklahoma city(1)
  • annuities(1)
  • small business insurance(1)
  • equipment insurance(1)
  • preventing burns on job sites(1)
  • claims information(1)
  • scheduled coverage(1)
  • burnout(1)
  • business owner's policy(1)
  • oklahoma city workers compensation insurance(1)
  • monthly business review(1)
  • personal advertising injury(1)
  • cyber threats(1)
  • home safety(1)

View Mobile Version
Social
Facebook
Twitter
LinkedIn
Google+
Carriers
Carriers
Carriers
Carriers
Carriers
EMC
Carriers
Twitter Logo
Tweets by @ijournal

Resources

Home About Us Get a Quote Customer Service Newsletter Contact Us

Contact Us

bainswest logo

 

trusted choice
  • Mailing Address
  • 118 N 16th St.
  • Muskogee, OK 74401
  • O: 800.259.4677
  • L: 918.683.7844
  • F: 918.687.0244
  •  

  • Mailing address
  • 6601 Broadway Ext, Suite 130
  • Oklahoma City, OK 73116
  • O: 800.699.5905
  • L: 405.842.2337
  • F: 405.842.0051
 
© Copyright. All rights reserved.
Powered by Insurance Website Builder