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I've been involved in several reported accidents that were judged to be fully the fault of the other driver, and my rates have never increased.
by aetherson 11y ago
I've been involved in several reported accidents that were judged to be fully the fault of the other driver, and my rates have never increased.
- ajkjk 11y agoThere are differences across states as to whether and when it's allowed. That might explain why it hasn't happened to you.
- TheOtherHobbes 11y agoAnecdote not evidence, but still interesting - I know someone who was no-fault in an accident, and her premiums still increased because the insurance company claimed that statistically anyone who has an accident is more likely to have another, even if it's not their fault.
- ams6110 11y agoSame. I've also had one at-fault accident and my premium went up in the sense that my "accident free discount" was removed for about 24 months. But I eventually got that back too.
- Spooky23 11y agoThey will drop you for being unlucky if they are too closely spaced together.
- kyllo 11y agoRelatedly, my home insurance company dropped me for being unlucky enough to get burglarized.
- snowwrestler 11y agoYes, this is my point: rate increases after accidents are done by choice of the insurance company, not because their risk management requires them to do so, as the grandparent post implied: > Premiums go up after an accident because it is more likely that you are a poor driver and likely to have another accident. No, premiums go up in that situation when the insurance company thinks they can do so and not lose too many customers. As you point out, not every insurance company operates this way. An insurance company only cares about managing risk and revenue across the entire pool. They plan to pay out a certain number of claims, so any given accident might simply be fulfilling the actuarial expectations and not altering their risk calculations at all.