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Will my rates go up for a hit and run?

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Will my rates go up for a hit and run?

Postby ferrell » Sat Nov 05, 2011 8:38 am

This weekend, my car was hit while parked in a parking lot. Nobody left a note or anything, which makes it a hit and run. The damage is extensive so I had to make a claim with my insurance co (it's unfair enough that I have to pay the deductible for something that's not my fault, I shouldn't have to pay even more). When I asked "this won't make my rate go up, will it?" they told me they will have to wait and see! This is so unfair, it wasn't my fault, I wasn't even THERE and they might raise my rates. I have 2 other claims in recent years, one from 2009 that was not at all my fault and the other from 2008 that was split 40-60 (or something, i don't know the exact % but i was less at fault that the other driver but still deemed at fault which was bs, but i digress). I have State Farm. Does anyone have experience with them and know if they will raise my rate over this? I'm so angry right now!
ferrell
 
Posts: 450
Joined: Fri Apr 01, 2011 12:57 am

Will my rates go up for a hit and run?

Postby hob » Sat Nov 05, 2011 8:42 am

It sucks, but most likely will go up. With your car being parked and hit, you are clearly not at fault, but;;;;;;;;you are filing a claim to have the damages fixed. You will always pay the $500 deductible if your company fixes it, regardless of fault, unless;;;;they know the person responsible, then they go after the at fault person for the insurance company's money plus your deductible. Since hit/run, both you and your insurance company is out of the money and no one to collect from.

Even though the 2008 accident was split both ways, it is still considered at fault, since it was not 100% against the other driver.

Most companies will rate your premium on ALL accidents, fault or not, up to 3 years and some up to 5 years. The rate increase goes in effect when your policy renews. It will also drop off 3 years when it renews, so sometimes depending on when the accident happened, could pay more/less till renewal.

So your 2008 accident should fall off soon, but now you still will have the 2009 till 2012 and also this new hit/run.

I suggest that prior to your renewal, you get quotes from other companies. You may find other companies that will be less than State Farm.

good luck
hob
 
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Joined: Fri Apr 01, 2011 5:12 pm

Will my rates go up for a hit and run?

Postby beaumont93 » Sat Nov 05, 2011 8:59 am

There's a possibility it will go up. And they were exactly right when they told you they will have to wait and see. No one will be able to tell you with any certainty until the underwriters have a look at your policy at renewal time. Even if they were to have someone to subro, they can't guarantee that your rates won't change.

Also, read your policy, and you will understand why you have to pay your deductible. It applies anytime you use your insurance coverage, regardless of fault.

EDIT: You're an attorney? Yeah, right. I've read your Q&A. If you're an attorney, I fear for the legal profession.
beaumont93
 
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Joined: Fri Apr 01, 2011 11:59 pm

Will my rates go up for a hit and run?

Postby ferrell » Sat Nov 05, 2011 9:02 am

There's a possibility it will go up. And they were exactly right when they told you they will have to wait and see. No one will be able to tell you with any certainty until the underwriters have a look at your policy at renewal time. Even if they were to have someone to subro, they can't guarantee that your rates won't change.

Also, read your policy, and you will understand why you have to pay your deductible. It applies anytime you use your insurance coverage, regardless of fault.

EDIT: You're an attorney? Yeah, right. I've read your Q&A. If you're an attorney, I fear for the legal profession.
NO!
ferrell
 
Posts: 450
Joined: Fri Apr 01, 2011 12:57 am

Will my rates go up for a hit and run?

Postby jerric » Sat Nov 05, 2011 9:06 am

They will if you didn't report it to the police. If it's not on record as a legitimate hit and run, all the insurance company knows is that you have a wrecked car.
jerric
 
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Will my rates go up for a hit and run?

Postby bwich » Sat Nov 05, 2011 9:12 am

If the other party cannot be located/does not pay out then you will have to pay your deductible. Here’s what will happen: the insurance provider will take your deductible and fix your car. If they manage to find the other party and get him to pay for the damages then they will return your deductible. And yes, it’s likely your rates will go up. As they say, those who make the least claims and have the cleanest driving records tend to receive the best car insurance rates.
bwich
 
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Joined: Thu Mar 31, 2011 3:36 pm


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