Does a Hit and Run Raise Your Insurance? Everything You Need to Know

Have you ever wondered what happens to your car insurance rates after a hit and run accident? It's a common question that many drivers have, and for good reason. Being involved in a hit and run can be a stressful and frustrating experience, and the last thing you want to worry about is how it will affect your insurance premiums. In this comprehensive guide, we'll explore all the key aspects of hit and runs and their impact on your insurance rates.

Key Points

• A hit and run is when a driver involved in an accident leaves the scene without stopping to identify themselves or provide assistance
• If you have the right coverage, your car insurance policy may help cover the costs of a hit and run
• Not all insurance policies cover hit and run accidents, so it's important to review your policy carefully
• Reporting a hit and run to the police and your insurance company is crucial for filing a claim and potentially identifying the responsible party

What is a Hit and Run?

A hit and run is a type of accident where a driver involved in a collision leaves the scene without stopping to fulfill their legal obligations. These obligations typically include providing identification and insurance information to the other party involved, as well as offering reasonable assistance to anyone who may be injured.

Hit and run accidents can occur in various scenarios, such as:

• Being hit by another vehicle while parked
• Being rear-ended while stopped at a traffic light
• Being sideswiped while driving

Regardless of the circumstances, if the other driver leaves the scene without stopping, it's considered a hit and run.

Does Car Insurance Cover Hit and Runs?

Whether your car insurance policy covers hit and run accidents depends on the specific coverage you have. In general, there are a few types of coverage that may come into play:

Collision Coverage

Collision coverage is an optional type of coverage that helps pay for damage to your own vehicle in the event of an accident, regardless of who is at fault. If you have collision coverage, it may help cover the costs of repairs or even provide reimbursement if your car is deemed a total loss in a hit and run.

Uninsured Motorist Bodily Injury Coverage

Uninsured motorist bodily injury coverage is another optional coverage that helps protect you if you're injured by an uninsured or underinsured driver. In the case of a hit and run, where the responsible party cannot be identified, this coverage may help pay for your medical expenses and other damages.

Uninsured Motorist Property Damage Coverage

Similar to uninsured motorist bodily injury coverage, uninsured motorist property damage coverage helps cover the costs of property damage caused by an uninsured or underinsured driver. If you have this coverage and your car is damaged in a hit and run, it may help cover the repairs or provide reimbursement.

Medical Payments Coverage

Medical payments coverage, also known as MedPay, is an optional coverage that helps pay for medical expenses resulting from an accident, regardless of who is at fault. If you have MedPay and you're injured in a hit and run, it may help cover your medical bills.

Personal Injury Protection (AKA No-Fault Insurance)

Personal injury protection, or PIP, is a type of coverage required in some states and optional in others. It helps cover medical expenses and other costs resulting from an accident, regardless of who is at fault. If you have PIP and you're injured in a hit and run, it may help cover your medical bills and other expenses.

It's important to note that not all insurance policies include these coverages, and the specific terms and conditions may vary. Review your policy carefully or speak with your insurance agent to understand what coverages you have and how they apply to hit and run accidents.

Steps to Take After a Hit and Run Accident

If you find yourself in a hit and run accident, it's crucial to take the right steps to protect yourself and increase the chances of identifying the responsible party. Here are the key steps to follow:

1. Evaluate the Safety of the Situation

Before taking any action, make sure you're in a safe location and out of harm's way. If you're able to move your vehicle, consider pulling over to a safe spot and turning on your hazard lights.

2. Contact the Police

Immediately contact the police to report the hit and run. Provide them with as much information as possible, including a description of the other vehicle involved, the direction it was headed, and any other details that may be helpful in identifying the driver.

3. Gather Information

If it's safe to do so, gather any information that may assist in identifying the responsible party. This can include taking photos of the damage, collecting witness statements, and noting any identifying details about the other vehicle involved.

4. Contact Your Car Insurance Company

Notify your car insurance company about the hit and run as soon as possible. They will guide you through the claims process and help determine if you have the necessary coverage to file a claim.

Will a Hit and Run Claim Raise Your Insurance?

One of the most common concerns drivers have after a hit and run is whether it will cause their insurance rates to increase. The answer to this question depends on several factors, including your insurance company's policies and the specific details of the accident.

In general, filing a hit and run claim should not automatically result in a rate increase. However, if you have a history of multiple claims or your insurance company deems you as high-risk, they may adjust your rates accordingly.

It's essential to remember that insurance companies consider various factors when determining premiums, and a hit and run claim may be one of many factors that influence your rates. To understand how a hit and run may affect your specific situation, it's best to reach out to your insurance provider directly.

In Conclusion

Experiencing a hit and run can be a stressful and unsettling event, but knowing how it can impact your insurance rates is crucial for your financial well-being. While not all insurance policies cover hit and run accidents, having the right coverage can provide peace of mind and protect you from unexpected expenses.

If you find yourself in a hit and run situation, remember to evaluate the safety of the situation, contact the police, gather information, and notify your car insurance company. By following these steps and understanding your insurance policy, you can navigate the aftermath of a hit and run with confidence.