Will Your Michigan Auto Insurance Rates Go Up?

A lot of people want to know if their Michigan auto insurance rates will automatically go up after they’ve had an accident. Every insurance company is different but it’s very likely that your Michigan auto insurance rates will go up after you’ve had an accident. But how much your auto insurance rates will go up depends on a few things, so don’t panic and think that your car insurance rates will become unaffordable because of an accident. Most insurance companies base your rate increase after an accident on these factors:

Number of claims and time insured- If you’ve been with your Michigan Car insurance company for 10 years and you’ve never filed a claim your rates will probably not go up that much after an accident. But if you’ve been insured by your current company for less than a year and you’ve already filed three claims you can expect your rates to be much higher after an accident.

Who was at fault for causing the accident- If you were responsible for causing the accident then your rate increase will be much higher than if you were the victim and the other person caused the accident.

How much damage was done in the accident – If the accident was a fender bender and there wasn’t much damage to your car then your rates will not go up as much as if the car was totaled.

Age of the driver involved – If the driver was older than 25 chances are that your rate increase will be a lot lower than the rate increase will be for a young or a teenage driver that’s involved in an accident.

What injuries resulted from the accident – An accident where there are no serious injuries won’t raise your Michigan auto insurance rates that much per year. But if anyone was seriously hurt in the accident you could be hit with a large rate increase.

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