After a hit and run accident, you might look at your vehicle and think, “Great. Now my rates are going to go through the roof!” The good news is that is something you don’t have to worry about. Your car insurance rates will not go up after a hit and run accident. Unfortunately, hit and run accidents are quite common. They make up 11% of all car accidents in America these days.
When the California Department of Insurance calculates the basic rates for car insurance each year, they take into consideration the fact that hit and run accidents are so common. They have already used that information in their calculation. When you are involved in one yourself, your individual policy will not go up based solely on that one accident.
The only thing you need to think about is if your current policy would be able to handle a claim for a hit and run. In California, it is not mandatory to carry Uninsured and Underinsured Motorists coverage, but without it a hit and run would not be covered in most cases. Typically hit and run accidents result in never finding out the identity of the other driver. Without that information, there is no way to go after the other party’s insurance carrier.
When you are in a hit and run, try to take notice of everything you can about the other vehicle. Remember the color, the make, the model and the license plate number. Take a picture of the area and remember the time of day the accident happened. Report it to the police immediately and then file a claim with your insurance carrier. If you have any questions about your current car insurance coverage, give us a call to discuss your policy. We can help make sure you will be covered for this type of accident.
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