The Hoffmann Law Firm, L.L.C. Articles Will an Auto Accident Affect Your Insurance Rate?

Will an Auto Accident Affect Your Insurance Rate?

By Christopher Hoffmann  Feb. 28, 2019 10:14a

Missouri law is quite clear. If you want to drive anywhere in the state, then you need auto insurance to do it.

It’s a measure the state has imposed to make the roads safe. The state also requires Missouri drivers to carry certain minimums to increase protection and cover serious auto collisions:


  • $25,000 for bodily injury per person

  • $50,000 for bodily injury per accident

  • $10,000 for property damage per accident


And that’s all fine, but even if the auto insurance can bring some peace of mind to drivers, it can be a financial strain. To make matters worse, not every driver will pay the same for the minimum coverage required by the states, as the rates can be affected by a wide variety of factors.


What Makes the Rates Go up?

Several elements such as driver age or even gender can have a word to say about how high your insurance rates are. For instance, it’s well known thatyoung and inexperienced drivers will end up with a higher insurance rate than drivers with more experience under their belt.


Other factors that can influence the rate can include:


  1. Amount of coverage;

  2. Amount of deductible;

  3. Your driving record;

  4. How the vehicle is used/how often it is driven;

  5. The area where you live;

  6. Credit history;

  7. If you have another policy in place with the same insurance company;

  8. The number of drivers on the auto insurance policy;

  9. Presence (or lack thereof) of anti-theft systems


Simply put, the way the rate of your insurance rate is decided looks roughly like this: the most likely you are to be in an accident, whether because of you (as in your age, medical background, etc.), the car (older model that could be prone to malfunctions), your driving record, or any other factor in your file will affect the rates. Experienced drivers, with a clean record, and what can be considered a “good vehicle” will pay less for insurance than those with another profile.


Can You Lower the Rates?

The Missouri Department of Insurance has some tips on how drivers can lower their insurance rates:


  • Drive with caution and respect traffic rules;

  • Maintain good credit;

  • Increase deductibles;

  • See vehicle-safety discounts;

  • Pay premium in full;

  • Use the same insurance company and the home or renters policy;

  • Inquire about low-mileage discounts.


The reason Missouri has this rule is to give drivers an extra safety net to protect their financials in the event of an accident. If you’ve been involved in a car collision and have issues with your insurance company, get in touch with a St. Louis car accident attorney as soon as possible.

Even with the policy in place, there are no guarantee things will go smoothly. However, an experienced lawyer can make sure the insurance company doesn’t take advantage of any loophole to get out of paying you the full amount you are entitled to. Call The Hoffmann Law Firm, L.L.C. 24/7 for a FREE case evaluation: (314) 361-4242

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