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Will My Insurance Rates Go Up After Someone Hits Me In Colorado?

Will My Insurance Rates Go Up After Someone Hits Me In Colorado

You likely have a lot of concerns and worries after getting involved in a Colorado car accident. Does the other driver have enough insurance? What if their insurance company finds you to be at fault? Do you have legal options to fight for your financial losses? Another issue that may be on your mind is your insurance coverage. If the crash was your fault, you’d expect to see your rates go up, and rightfully so. But what about when the other party was at fault for the crash? Learn more about what the law says and how your insurance may change after an accident. For more help with your accident claim, call Colorado Accident Attorneys at 303-567-7981.

Your Insurance Company Cannot Take Direct Action Against You

It’s crucial to know what the law says when you are involved in an accident that someone else caused. Colorado statute 10-4-611 states that an insurance company cannot take away or reduce discounts after an accident with an uninsured vehicle if the covered driver is not at fault. If you can tie an increase in your rates directly to a specific accident, you may have legal options. For example, if your insurance company explicitly tells you over a recorded call, letter, or email that your rate increase was due to your recent not-at-fault collision, you may be able to seek compensation from them.

While your insurance company can’t directly increase your rates because of an accident you didn’t cause, there are other reasons they may ramp up your insurance rates after a collision.

High-Risk Driver

If your insurance company finds you to be a high-risk driver, they may increase your rates accordingly. This is true even if your most recent accident was not your fault. Someone who consistently gets in crashes, regardless of who is to blame, is someone who will likely cost the company a substantial amount of money. It may indicate that a person constantly drives in a high-risk area—for example, a densely-packed city versus a rural area—or drives at times when accidents are significantly more likely. You may be at greater risk for a rate hike if you also have a history of traffic citations.

Citations Related to the Accident

Perhaps you were not at fault for the accident but still received a citation. For example, the other party may have been at fault, but you may have been speeding at the time of the crash. While the citation does not assign blame to you, the citation itself could increase your rates.

Expensive Collisions

When a specific geographic area has a sudden uptick in costly car accidents, consumers throughout the entire area may see their rates increase. It has nothing to do with their driving, but with the risk that comes with living and driving in that particular area. If you’re involved in a crash you didn’t cause, a subsequent rate increase may seem pointed at you—but it may actually be indicative of an uptick in accidents or claims in your area. 

Protecting Yourself After a Crash

You must protect your own best interests after a Fort Collins car collision. This means getting checked out by a medical provider, reporting the accident to the police, and reporting the crash to your insurance company. The other party may beg you not to report it, knowing that their rates will increase substantially. However, that isn’t what’s best for you. If you try to settle it without the insurance company, you’ll likely struggle to get what you are owed from the at-fault party. Furthermore, you may violate your insurance contract, which likely requires you to report all collisions to the insurance company promptly.

Do not admit fault to anyone after a crash. That means accepting even partial blame when speaking to the insurance company, the police, or the other driver. State what happened and allow the investigation to play out. From there, you can discuss your options with a Denver car accident attorney.

Start Your Car Accident Claim With Colorado Accident Attorneys

If you’re involved in a car accident, limiting your insurance company’s losses can protect you from being targeted by rate increases. The team at Colorado Accident Attorneys can help you pursue the compensation you’re owed, including medical bills, lost wages, pain and suffering, and property damage. Take the first step now by setting up a free consultation. Give us a call at 303-567-7981 or contact us online.

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