Even though strict traffic rules are being implemented regularly, the percentage of road accidents is not decreasing. Car accidents account for nearly 50% of overall road traffic crashes. As of 2021, there were about 284 million automobiles operating in the United States, and the estimated number of road accident fatalities was around 47,000.
A total of about 6.8 million vehicle accidents were reported in 2019 in the United States. As of 2021, the total number of individuals with official driving licenses is 233 million. There are many reasons for car accidents; the most common ones include drunk driving, over-speeding, distracted driving, tailgating, poor weather conditions, etc.
When involved in a car accident, one may suffer minor scratches, severe injuries, or instant death, depending on the crash’s impact. Another common consequence of a car accident is the insurance rates. Insurance companies will increase the premium rates of both victims and at-fault parties following an accident. Visit www.lawampm.com to learn more about why an insurance company might increase its rate.
In this blog post, we discuss things you can do to increase the compensation rate following a car accident.
How to Increase Your Car Accident Compensation Rate from Insurance Companies
Here are a few reasons why insurance companies might increase your car accident compensation rate.
- Hire Skilled Attorneys
After you get into an accident, hiring skilled lawyers is the best bet. The attorneys will act as legal representatives of your case and will gather the required evidence to help you receive maximum compensation after negotiating with insurance review adjusters. When hiring attorneys, it is best to check their experience, credentials, previous cases, budget, and more.
- File a Police Report
With the help of your attorney, make sure to file a car accident police report. The officers will investigate the accident and document the details in the police report, including the crash location, date, time, people involved, and more. By submitting these solid proofs to insurance companies, you can expect to get more compensation.
- Medical Records for Injuries
Get a medical check after you get into an accident to determine your injuries. You will receive normal compensation in case of minor injuries. However, if you suffer severe injuries, then there is a high chance of obtaining an elevated compensation amount. Thus, always visit the hospital following an accident to check for injuries.
- Negotiate the Amount
Settling quickly will not get you maximum compensation because the insurance companies might pay you less amount. As a result, your attorney will negotiate the car accident claim and makes it possible to get higher compensation for all the damages.
Does a Car Accident Claim Increase Your Premium Rate
In the majority of cases, after filing a car accident claim, one can expect to notice an increase in premium rates. The premium rates can rise by 20% to 40%, depending on the insurance company and your package.
By avoiding filing the claim repeatedly for minimal damages, one can deter premium loading and preserve no claim bonus. As a result, there will be fewer chances of noticing a rise in premium rates. In addition to that, there are several other factors that lead to an increase in premium rates, such as driving record, age, vehicle type and vehicle age, coverage type, deductible, and more.
Bottom Line
When involved in a car accident, the right thing to do is hire an attorney, file a police report, get thorough medical checkups, and file the car accident compensation claim, which will help you acquire higher compensation amounts. In addition to that, after filing a car accident claim, you can expect to see a raise in your premium rates.
