A really good question that gets asked all the time at the beginning of a lawsuit or an insurance claim after a motor vehicle accident is, Will My Rates Go Up After a Claim?
I am here to discuss the truth on raising insurance rates after a claim, such as a motor vehicle claim, has been made.
The good news is that Florida lawmakers have addressed this issue. They’ve done a good job of addressing what insurance companies can legally do, and what they can’t do when it comes to how they do business and how they do advertising.
Importantly for this discussion, they’ve addressed how they can legally go about their business of increasing insurance rates after a claim has been made.
If You Are At Fault
What the lawmakers have decided, and what they’ve put into the code, is that insurance companies, when it comes to raising insurance rates after a motor vehicle accident, can only raise your rates if they make a good faith determination that you, the insured, was substantially at fault in the accident.
Or, I guess more clearly, if you’re not at fault in the accident, they can’t raise your rates.
If You’re Not At Fault
The good news is if you’re watching this video and you’re one of our clients, the reason you’re bringing in a car accident claim is that someone else caused the accident, someone else caused your injuries, and you’re not at fault.
If you’re not at fault, the insurance companies are not legally allowed to raise your rates just because you’re bringing claims.
The Rule on Multiple Accidents
One little caveat that’s important to know is that if you’ve had three motor vehicle accidents within the last three years, regardless of fault, the insurance company, can choose to terminate your coverage after your policy lapses.
They can’t raise your rates, but they could terminate your coverage.
Contact Us for Any Questions
So that is the truth on the myth regarding Raising Insurance Rates after a claim has been made.
If you have any questions regarding your insurance and a claim you have, pick up the phone and give one of our Tampa injury attorneys a call.