We've all heard the horror stories about insurance companies raising insurance premiums for customers who were not at-fault for simply filing a claim. The reality is that this is less likely due to filing a claim and more likely to occur because the insurance company has now deemed the customer to be a higher risk.
Insurance companies charge higher premiums to drivers who pose a high risk of liability versus drivers they consider to be low risk. They take multiple factors into consideration, such as your driving record, your age, the type of vehicle you are insuring, and how you use the vehicle. Essentially, the less likely the insurance company thinks you are to be in an accident, the lower your insurance premiums will be. Be mindful that not all insurance companies play by the same rules.
If you were involved in a hit-and-run accident or by someone who didn't have insurance (or not enough insurance), you should absolutely file a claim on your own policy. Why? Because this is what you've paid your insurance premiums for. Uninsured/Underinsured Motorist coverage protects you from this type of loss so that you don't suffer the financial burden alone.
Many insurance companies will not raise rates on their insured after a no-fault claim has been filed while some might. If you find that your insurance rates have gone up significantly, you can try to negotiate a better rate with your current carrier or begin looking for a new insurance carrier. If it is in their best interest to raise rates, it is in your best interest to find an insurance carrier that suits your needs, too.
Did you know that insurance companies in Texas are required to offer Uninsured Motorist coverage and Personal Injury Protection? If they fail to offer these coverages to you and obtain your signed, written rejection of these coverages, then this coverage may be applicable to you.
Beware of purchasing a "full coverage" insurance policy. This term is meaningless and causes confusion for many people thinking their injuries would also be covered just to find out they had a minimum liability policy with collision and comprehensive coverage for their vehicle only. Uninsured/Underinsured motorist coverage is not required per Texas statute but is highly recommended in case you are seriously injured in a car wreck.
If you've been in an accident and are unsure what to do, consult with our law office today by calling 972-833-8000. Stanley and Associates has over 20 years of combined experience in accident injury law. We fight to protect our clients' rights, help them seek medical treatment, and win compensation for their injuries.
Jacob is a compassionate, no-nonsense personal injury attorney. Rest assured, he will fight for the best outcome possible for your injuries.
Dustin practices law for the individual because people need a strong voice in their corner.
Our firm provides its clients with knowledgeable, personalized representation in the following practice areas: Auto Accidents, Work Accidents, Dog Bites, Premises Liability (slip and fall cases), and more.
We know that money is a big deciding factor when choosing an attorney, which is why we don't take payments from our clients up-front. We only get paid when YOU get paid!
Insurance companies are not looking forward to helping you get better or paying for your damages. They will say and do anything to avoid paying you what you deserve! Hiring an attorney is a great motivator and puts the insurance companies on notice. We're on YOUR side!