Car Accidents And Auto Insurance Costs

PR Newswire iReach

LOS ANGELES, May 30, 2018 /PRNewswire-iReach/ -- Onlinequotesautoinsurance.com has released a blog post presenting the direct link between car accidents and car insurance costs.

Car insurance companies issue policies based on the risk profile of the customer. This risk profile determines, on average, the chances of the customer making a claim. Claims cost companies money and the higher are the chances, the higher will be the premiums. When the risk is too high, standard carriers usually renounce insuring such customer. The insurance market for high-risk drivers is very limited and costly. If you want to know more about your risk profile and how much you will have to pay for car insurance, use free online quotes, provided by http://onlinequotesautoinsurance.com.

Car insurance costs will raise depending on 2 factors: the severity of the accident and who is to blame for the accident. Minor accidents have little influence on insurance rate, but even so, they do impact premiums. Accumulating too many minor accident claims in a short period of time can even make a driver be labeled high-risk. The premiums will increase alarmingly high, from 50% more, up to 100% or 200% more. Totaling a car will also increase the rates and the person who caused the accident will incur long term financial penalties

As for guilt, it is normally for the guilty one to pay more for coverage, after properly reimbursing the victims. The victim will usually be spared from premiums increase.

"After an accident, the premiums will surely increase for one of the drivers involved. Or for all parties, depending on the degree of guilt. Each company applies a price increase, so it is always better to ask your agent about this potential scenario." said Russell Rabichev, Marketing Director of Internet Marketing Company.

Onlinequotesautoinsurance.com is an online provider of life, home, health, and auto insurance quotes. This website is unique because it does not simply stick to one kind of insurance provider, but brings the clients the best deals from many different online insurance carriers. In this way, clients have access to offers from multiple carriers all in one place: this website. On this site, customers have access to quotes for insurance plans from various agencies, such as local or nationwide agencies, brand names insurance companies, etc.