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Get DirectionsThe impact of an at-fault accident on your auto insurance premiums can vary widely depending on a variety of factors. Some of the factors that may affect the size of the premium increase include:
The severity of the accident: More serious accidents, such as those involving significant damage or injuries, may result in larger premium increases than less serious accidents.
The amount of damage caused: The amount of damage caused by the accident can also affect the size of the premium increase. If the accident resulted in significant damage to your car or the other party’s car, your premiums may increase more than if the damage was minimal.
Your insurance company’s policies: Different insurance companies have different policies when it comes to handling at-fault accidents, so the impact on your premiums may vary depending on which company you’re with.
Your driving record: If you have a clean driving record prior to the at-fault accident, your premiums may not increase as much as they would if you had multiple accidents or traffic violations on your record.
State laws: Some states have laws that regulate how much insurance companies can increase premiums after an at-fault accident, so the impact on your premiums may vary depending on where you live.
It’s difficult to give a specific estimate of how much an at-fault accident will increase your premiums, as it will depend on these and other factors. However, it’s not uncommon for premiums to increase by hundreds or even thousands of dollars after an at-fault accident.
Month: December 2022
Top three reasons to get flood insurance
If you live in an area prone to flooding, getting flood insurance is a good idea. Below are just a few of the top reasons why you should consider getting this critical type of coverage:
1. Flooding can happen anywhere: Even though certain areas are more susceptible to flooding than others, no region is immune from this type of disaster. If your home or property is located near water – such as a river, lake, ocean, or even a low-lying area – there’s always a chance that you may experience flooding at some point.
2. Flooding can cause severe and long-lasting damage: Floodwaters have the potential to cause significant structural damage to buildings and other structures. In addition, standing water can ruin personal property and belongings – even if the flood occurs relatively quickly.
3. Coverage for flooding is not included in standard homeowners insurance policies: Many homeowners mistakenly believe that their existing home insurance policy will cover them for losses caused by flooding. However, this type of coverage is typically only provided under separate policies with specialized carriers specializing in flood coverage. If you live in an area at high risk for flooding, it’s essential to ensure that this aspect of your insurance portfolio is adequately covered.
In conclusion, whether or not you live in a high-risk flood zone, getting flood insurance is a wise decision that can help protect your property. If you have any questions about whether flood insurance is a good option for you, call the LG Insurance Group today. We proudly serve the Marietta, GA area.
