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Follow on Google News | Will My Auto Insurance Premium Increase If I File a Claim?Nevada Insurance Enrollment and When You Should File An Auto Insurance Claim
You have an auto insurance policy just in case the unexpected happens and you find yourself responsible for a collision. But what happens when you need to file a claim? Is it even worth it? Knowing when to file a claim and understanding how it could affect your monthly premium is essential in making the best decision in the event of an accident. Believe it or not, the increase in your premium isn't a slap on the wrist from your insurance company; you're not being punished for being involved in a collision. When your insurer is coming up with your insurance premium, it's all about the numbers. Why Your Auto Insurance Premium Rises Insurance providers use complex algorithms that take into account factors like age, gender, driving record, how many claims you've filed, where you park at night, marital status, and more. Your premium is based on these factors, which is why you and your neighbor could have the exact same coverage limits but pay vastly different premiums. Filing a claim affects your premium because it changes the calculations your premium is based on. Statistically speaking, after you've filed a claim, you're more likely to file additional claims in the future. As far as your insurer is concerned, there's a greater risk associated with insuring you; therefore, your premium increases to offset the risk. Which Type of Claims are the Most Expensive in Las Vegas Nevada? Unsurprisingly, insurance claims in which your insurance company has to pay out for medical care result in the highest bumps in premiums. Comprehensive auto claims, on the other hand, generally cause the most modest premium increases. Also, remember that if you are in an accident but are not the at-fault driver, then you don't have to worry about your monthly premium being affected. Read the full article:https://www.nevadainsuranceenrollment.com/ Learn more:https://www.nevadainsuranceenrollment.com/ Nevada Insurance Enrollment 4260 W. Craig Road suite #150-A North Las Vegas, NV 89032 (702) 898-0554 Website: NevadaInsuranceEnrollment.com End
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