No! your accident record follows you for the rest of your life like a credit report. : Once you have had an accident even if you change your insurers, your premium will be surcharged. If you have a forgiveness clause in your policy and this is the first accident you will not be charged higher. That being said it is still possible to save on auto insurances and one should be constantly on the look out for savings, since there are number of ways the premium can be saved : 1) Having higher deductible as indicated. 2) Having safety features installed - like airbags, alarm system if not already installed. 3) Decreasing the mileage - use by car pooling. 4) Online discounts 5) Placing all policies with one insurer - home and auto or all auto polices with one insurer. The insurance rates are also dependent on the claims experience of the insurance companies so shopping around is certainly a good idea.
Most companies don't raise rates based on a no fault accident when you are insured with them. So, if you are getting good driving discounts, they will probably remain. However, if you want to switch, the no fault accident might prevent you from getting the next company's best rates.
Unfortunately, IF and that is IF your personal policy insurer finds out, if they do a yearly check, their may be a surcharge applied. Please remember that if ever confronted with that question from your insurer, always be truthful or they could cut you. I am a Broker
Yes, some insurers have rules that even if there was an accident with no payout or no claim made, your premiums will be affected. So once you report the incident to your insurer, they will consider it a claim against your future premiums. However, there are some companies out there that will not hold the incident against you, so would recommend you shop around for the best rate based on your situation.
They can be sued by the other driver for damamges (if at fault). If not at fault, they may have a very difficult time getting insurance in the future and when they do, the premiums will be through the roof.
To determine how to avoid a similar accident in the future
To determine how to avoid a similar accident in the future
Yes, you may, provided that the insurer has not already made payment. Keep in mind, though, that if the insurer has a record of a claim having been made, it may have a bearing on how the insurer "views" the risk in the future. This could go to issues such as future insurability, rates, and similar issues.
insurers set premiums based on the equivalence principle where they set the present value of future outgo to the present value of future benefits. the calculations allow for an implicit profit due to interest spreads.
Motor insurance policies have a scale of reduced premiums where there has been no claim under the policy. This is why the reduction in premium is called a "No Claim Bonus". It is not a "No Blame Bonus". If a third party was 100% responsible for an accident and you recover all of your costs directly from the third party without claiming on your insurance, then the accident should not affect your bonus or your record. However insurance statisitics show that drivers who have several accidents, even when theyare judged not to have been at fault are more likely to be involved in future accidents which will increase insurance costs, so there is an added risk factor which has to be declared to the insurer and taken into account.
If ownership of the policy is assigned, the assignee is liable for future premium payments.
what caused the accident in may 2003 and can be done to prevent it in future?
If the owner of the policy is also the named insured, the insurer ordinarily pays the death benefit to the named beneficiary. This presumes that the policy was in force at the time of death. If the owner of the policy is not the insured, the policy becomes an asset of the estate and passes either according to the terms of the Will or, if no Will, by laws of intestate succession. The risk there, is that if the policy is not fully paid-up at that point and premiums are therefore still due, the policy may lapse at some point in the future if premiums are not paid.
Auto insurance offers some protection against risk. The company agrees to take on your risk in exchange for your premiums, the money you pay them. There has to be an actual risk covered by the company, or there can be no legal insurance contract. Even if you don't have an accident for an entire covered period, the company was covering your risk so you obviously would get no money back for that period. The money you paid goes to the payment of claims made by other policy holders. If you get into an accident, some companies will ask you to increase what you pay in premiums because the accident [or ticket] probably indicates that the company is taking on a little more risk (there may be a higher probability that you will make a future claim) by covering you. Remember, you are paying them to accept risk on your behalf.
Maybe in the future by a nuclear bomb.
A waiver of premium provision in a life insurance policy excuses the payment of future premiums in the event that the insured (or owner of the policy, if different) becomes disabled from working and is rendered unable to pay the premiums. Stated otherwise, it may be analogized to a form of disability coverage which has as its benefit the payment of the life insurance premium. The waiver of premium of rider is an option that may be offered at the inception of the life policy and for which an additional premium is charged. It will specify the nature and extent of the disability that needs to be sustained in order to trigger the benefit, and its duration. The insurer may require periodic medical proof of an ongoing disability that meets the requirements of the rider.
Essentially, the company will forgo future premiums, while retaining policy benefits as previously, for a stipulated period.
No..but it will effect your current and future Insurance rates.
You can it just wont help that current accident (only future accidents)and the rates will be higher priced. If you want to get cheap rates following your accident (which is normally hard to do), you can check out 4autoinsurancequote, which is offering insurance coverage starting at $20/month.
The future is what is going to happen and the present is what is happening now.
According to my experience, it should not affect your insurance rates if you were not at fault. I was involved in a hit-and-run myself, and at the time I was too nervous to jot down the correct license plate. I filed the report anyways though.Of course, due to the severity of the accident and whether or not you were injured, that would determine how much money your insurer need to shell out. However, as long as it's not your fault, they have no reason to increase your rates.Good luck!
You will now have two claims pending. Additionally depending on the circumstances of the accidents and a fault determination you will likely be paying a "LOT" more for your insurance in future. You may also find your policy cancelled or non renewed by your current insurer and may have difficulty finding a new insurance company that is willing to accept you.
Your detail is lacking for a real decent answer however the condition, if it existed before the incident (say, a vehicle accident) would not be covered as it did not result from the accident itself. Any insurance policy covers losses IF a "trigger event" occurs that makes the policy's coverage kick in. An sample scenario might be the following. You are driving along when a wasp or bee enters the car. It stings you. Although you never had a "reaction" before, this time you do. You are beginning to go into anaphylactic shock, feel faint, and run into the rear of someone else's car. While your insurer WILL pay for the cars and your medical bills, if injured in the accident, the policy will not pay for specific treatment or later preventive care, Epi-pens, etc. in case you get stung again in the future. Similarly, in a case where someone "blacks out" at the wheel and has an accident, their brain tumor causing the blackouts is NOT covered by their Automobile Policy. This issue would normally fall to the person's HEALTH insurer.
Some people pronounce the word in a different manner.