Accidents happen, it just a fact of life and car accidents are no exemption. Every year there are more than five million car accidents in the US. These accidents can be a small fender bender or a catastrophic T-bone. After an accident many people wonder if their Tulsa car insurance rates will rise. The answer depends on four factors.
This will be the biggest factor in determining your car insurance rate post accident. Generally speaking, if you’re at fault your rate will increase and if you’re not at fault your rate will stay the same. This isn’t a guarantee, and it really depends on your policy and the exact details of the car accident.
Speaking of your car insurance policy, it’s also a big factor. Insurance policies will stipulate when your rates will rise and fall, so it’s important to review the policy. Some Tulsa car insurance companies will have accident forgiveness and show a little grace if you get in an accident.
If it’s just a small door ding Tulsa car insurance providers are usually more forgiving with your rates. But your car gets totaled and they have to write a large check to replace it, your rates might see a bump.
The odds of your rates staying the same are pretty good if this is your first claim. On the other hand, if you’ve filed multiple car insurance claims the odds of a rate increase are pretty good.