The Impact Of A Personal Injury Claim On Your Insurance Premium
by
Joseph C. Maya on Jun. 05, 2017
Accident & Injury Personal Injury Accident & Injury Accident & Injury Car Accident
Summary: Blog post about how a personal injury claim can potentially result in an increase in the cost of your automobile insurance premium depending on if you were at fault for the accident or not.
Contact the personal injury attorneys at Maya Murphy, P.C. today. We can help you get the just compensation you deserve for your injuries or those of a loved one. For a free initial consultation, call 203-221-3100 or email JMaya@Mayalaw.com.
A personal injury claim made against your policy might affect your insurance premium depending upon whether or not you were at fault for the accident. If someone is injured in an accident that was not your fault, any personal injury claim that they make against your policy (unless it is under the no fault coverages PIP or Med Pay), should be denied by your insurance carrier. Any accident that was not your fault should not increase your premiums because it does not indicate that you are a higher insurance risk.
If a personal injury claim is made against your policy because of an accident that was your fault, your insurance premium might be affected; negatively, of course. Prior accidents are part of the whole picture of whether or not you are a future risky investment for your insurer. However, it is important to realize that your premium will be affected by the same amount whether your insurance company pays the other person for vehicle damage only, or damages as well as injury. Your premium will be affected to the same degree whether your insurance company pays the injured party a nominal amount or a large amount up to your policy limits. Your premium will also be affected by the same amount whether the other person’s personal injury claim is settled amicably out of court without any attorney involvement, or if the case goes all the way to trial.
The reason for this is that the cost of your automobile insurance premium is affected by the level of risk that you become (are you a bad driver or not). Your insurance company will not attempt to recoup the amount of money that they pay to the other person through your insurance premiums. For one thing, that would negate the reasons for having insurance in the first place.
If you are asking whether or not your own personal injury claim against another driver’s insurance policy might affect your own premium, there isn’t any reason it should based on the factors above.
At Maya Murphy, P.C., our personal injury attorneys are dedicated to achieving the best results for individuals and their family members and loved ones whose daily lives have been disrupted by injury, whether caused by a motor vehicle or pedestrian accident, a slip and fall, medical malpractice, a defective product, or otherwise. Our attorneys are not afraid to aggressively pursue and litigate cases and have extensive experience litigating personal injury matters in both state and federal courts, and always with regard to the unique circumstances of our client and the injury he or she has sustained
