Car Insurance Costs after an Accident By Larry A. Tawwater on January 02, 2021

scene of a rear end auto accidentWhether it’s a minor fender bender or a catastrophic accident, auto collisions can affect your life in unexpected ways. In addition to dealing with vehicle damage and possible medical bills, you may also notice increased car insurance premiums after the accident.

The skilled car accident lawyers at the Tawwater Law Firm have helped numerous collision victims in the Oklahoma City, OK, area hold negligent and reckless drives accountable. Here, we will consider how an auto collision affects the costs of car insurance, and you may be surprised to learn how much your rates could increase after a crash.

How Much Will My Insurance Rates Increase?

That can vary based on the nature of the collision, the state you reside in, and your insurance provider. That said, coverage.com notes that the average nationwide insurance increase following an at-fault auto accident is approximately 34 percent.

The same coverage.com article also breaks down averages by state. In Oklahoma, the average rate increase after an at-fault auto accident is 43 percent. To give you an idea how much the rate hikes vary by state, the average increase in Texas is just 8 percent while the rate increase is 73 percent in California.

Higher Insurance Costs Add Up Fast

An annual increase of 43 percent for Oklahoma City motorists will add up quickly. By the end of a year, you’ll be spending hundreds more on auto insurance. Without a rate reduction, you could be spending thousands more on car insurance because of an at-fault auto accident.

Does Fault in the Accident Matter?

Yes. If you were at-fault in an auto accident, you’re likely to face a rate increase. Even partial fault or indeterminate fault could lead to a rate increase. That’s why assessing fault in collisions is so crucial.

Considering the Severity of the Crash

The severity of an auto accident may also affect the amount of your insurance rate increase. Minor collisions that involve property damage only will likely result in a lower rate hike than a collision that results in catastrophic or fatal injuries.

Is There a Chance My Premiums Will Stay the Same?

Yes. Your auto insurance premiums will likely stay the same if:

  • This is your first crash
  • The accident was not your fault
  • You have a clean driving record

However, if you are involved in multiple auto accidents, your auto insurance rate may go up even if you were not at fault in the collisions. This is because your insurance provider would classify you as a higher risk driver.

Holding Negligent Drivers Accountable

Given how crucial fault and liability are in insurance claims and personal injury lawsuits, it’s important that you speak with an attorney about your collision. We can help you hold the negligent driver accountable and also help with disputes with auto insurance companies. Our law firm is here for you and your loved ones.

Speak with Our Team of Lawyers

If you live in the Oklahoma City area and have been in a car accident, our lawyers are here to help you. We encourage you to contact our team of personal injury attorneys online or call the Tawwater Law Firm at (405) 607-1400.

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The Tawwater Law Firm Office

The Tawwater Law Firm

As a client of the Tawwater Law Firm in Oklahoma City, you can benefit from: 

  • Our more than 36 years in practice serving personal injury victims
  • Our listing in the Bar Register of Pre-Eminent Lawyers of America
  • A case supported by some of the nation's leading experts 

To schedule a consultation, contact us online or call us at (405) 607-1400.

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