How Will a Personal Injury Claim Impact My Insurance?

Personal Injury Lawyer

A personal injury can have impacts that are far-reaching, from cutting your ability to work to damaging your physical comfort or your ability to support your family. A personal injury claim, on the other hand, can have a whole other set of effects. If a claim is made against your insurance, your premium can skyrocket. Before you’re involved with a personal injury case, it’s a good idea to consult with a personal injury attorney and learn the potential impacts.

Who’s at Fault?

How your insurance will be impacted by an accident claim depends largely on who caused the accident. For insurance claim purposes, there are really just two categories of accidents:

  • Accidents in which you aren’t at fault
  • Accidents in which you are at fault

Which type of accident you are involved in may be determined by either your insurance or the other party’s insurance. The answer directly influences whether your personal insurance costs go up. In an injury accident that was not your fault, your insurance costs should stay the same. Ideally, an initial investigation will reveal that you did not cause the accident and any claim they make against your insurance carrier will be denied. Because there’s no suggestion that you pose an added risk, your carrier should not raise your premiums.

Trouble can arise when you’re involved in an injury accident that was indeed your fault. An example of this could be if you’re involved in an automotive accident caused after you failed to yield. Once insurance investigators determine your responsibility, and the other party files a claim, you can expect your premium to be affected. This is because insurance companies consider claims evidence that you will be a high risk going forward. The increased premium will often be somewhat equivalent to the amount your insurance company pays the other party for things like vehicle damage or a personal injury settlement. Your premium will likely increase whether or not you have a personal injury lawyer, but having one in this case can help you negotiate a lower settlement and see a milder impact on your insurance premium.

It’s natural to wonder whether your own involvement in a personal injury claim will raise your insurance premium. The bad news is that if you are at fault, your premiums will be impacted. The good news is that the right personal injury lawyer can help you navigate your accident and get a settlement that puts the smallest dent in your pockets.

 

Source: Personal Injury Lawyer Miami, FL, Needle & Ellenberg, P.A.

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