Will My Florida Car Accident Affect My Insurance Rates?

At The Law Offices of Keith Bregoff, our auto accident attorneys in Vero Beach understand there may be a lot of confusion about vehicle collisions and how they affect your insurance rates.

That is typically because not everyone has the same insurance provider or even the same type of coverage. Some drivers opt for additional coverage based on the type of vehicle, where they live, or what they use it for, including accident forgiveness plans which keep their rates from spiking even after an accident occurs.

According to the Florida Highway Safety and Motor Vehicles, all vehicles registered in Florida must have continuous coverage even if the vehicle inoperable or is not being driven full time.

The requirements include Personal Injury Protection and Personal Damage Liability insurance at the time of vehicle registration, which requires a minimum of $10,000 each in both PIP and PDL coverage from an insurance carrier licensed to do business in Florida.

If you have the proper insurance coverage and are involved in an accident, will your insurance rates go up? The answer is, it depends.

Who Determines When My Insurance Rates Go Up in Florida?

Your insurance rates are dictated by things like the type of car you drive, your age, where you live, and your driving record, gender, marital status, and how long you have been licensed.

Many variables influence whether an insurance company increases your premium after a collision.

They may include:

• Do you have a history of moving violations?
• Were you responsible for the accident?
• Have you been responsible for other at-fault accidents?
• How serious was the accident?
• Was anyone injured or killed?
• Do you have a good driving history until now?
• What is the extent of the property damage?

Each of these factors will determine whether your insurance rates increase. If so, do not expect the rate to go up the following month. Insurance companies typically wait until the policy renewal date to inform their policyholders that their rates are increasing, and by what amount.

It is then up to you to keep the increased policy or explore other premium options with other insurance companies to see if you can find a more competitive price.

Have You Been Hurt in an Accident in Florida? We Can Help. 

If you have been hurt in a car accident in Florida, and would like to pursue the negligent driver’s insurance coverage for your financial recovery needs, contact our experienced personal injury lawyers in Vero Beach at the The Law Offices Of Keith Bregoff today by calling(772) 492-8967 to schedule a free consultation. We can walk you through the legal process, so you can focus on your physical and emotional recovery while we handle the rest.