Does Your Insurance Go Up If You Claim a Hit and Run?

Being involved in a hit and run can be a stressful and frustrating experience. Not only do you have to deal with the damage to your car, but you also have to worry about the financial implications. One of the questions that often comes up in these situations is whether your insurance rates will go up if you file a claim for a hit and run. In this blog post, we will explore this topic and provide you with the information you need to make an informed decision.

Does Insurance Cover a Hit and Run?

Before we dive into whether your insurance rates will increase, let's first discuss whether your insurance will cover a hit and run. The good news is that most car insurance policies do provide coverage for hit and run accidents, as long as you have the right coverage in place.

After a hit and run, it's crucial to take immediate action. The first step is to call the police and report the incident. They will gather information and potentially track down the responsible party. Additionally, you should contact your insurance company right away to report the accident. They will guide you through the claims process and help you understand the coverage available to you.

Car insurance coverage for hit and run accidents typically falls under two categories: collision coverage and uninsured motorist coverage. Collision coverage helps pay for the repairs to your vehicle, while uninsured motorist coverage can provide compensation for injuries sustained during the accident.

What to Do After a Hit and Run

After a hit and run, it's important to take the following steps:

1. Evaluate the Safety of the Situation: Ensure that you and others involved in the accident are safe. If necessary, move your vehicle to a safe location.
2. Contact the Police: Call the police and report the hit and run. Provide them with all the details and any information you have about the other vehicle.
3. Gather Information: If possible, collect information from witnesses and take photos of the accident scene and any damages to your vehicle.
4. Contact Your Car Insurance Company: Notify your insurance company about the hit and run. They will guide you through the claims process and help you understand the coverage available to you.

Will a Hit and Run Claim Raise My Insurance?

Now, let's address the question on many people's minds: Will filing a hit and run claim raise your insurance rates? The answer is not straightforward, as it depends on several factors.

In some cases, filing a hit and run claim may lead to an increase in your insurance rates. Insurance companies consider various factors when determining premiums, including your claims history. If you have a history of filing multiple claims or if you are considered a high-risk driver, your rates may go up.

However, if you have a clean driving record and this is your first claim, the impact on your rates may be minimal. It's essential to review your policy and speak with your insurance provider to understand how filing a hit and run claim could affect your rates.

What is a 'Miss and Run'?

You may have heard the term 'miss and run' in relation to hit and run accidents. A 'miss and run' refers to a situation where you narrowly avoid colliding with another vehicle, but the other driver leaves the scene without stopping. While it may not involve physical contact, it is still considered a hit and run.

What Happens If I Hit a Car and Leave?

If you are involved in an accident and leave the scene without stopping, it is considered a hit and run. This is illegal and can have severe consequences, including criminal charges and license suspension. It's crucial to always stop, exchange information with the other party, and report the incident to the police and your insurance company.

In Case You Missed It

Here are some other helpful auto insurance articles and guides:

• Quality Auto Coverage Starts Here
• Car Insurance Coverage for a Hit and Run: Will You Be Covered?
• Do I Have to Pay a Deductible for a Hit-and-Run Insurance Claim?
• Do Hit-and-Runs Raise Your Insurance Cost?
• Does Liability Insurance Cover a Hit-and-Run?

Educational

Understanding how insurance works in different scenarios can be educational. By learning more about hit and run accidents and their impact on insurance rates, you can make informed decisions to protect yourself financially.

Formal

When dealing with insurance claims, it's important to follow the proper procedures and communicate effectively with the police and your insurance company. Taking a formal approach ensures that all necessary steps are taken to resolve the situation.

Millennials

As a millennial, understanding how hit and run accidents can affect your insurance rates is crucial. Being aware of the potential consequences can help you make responsible decisions on the road and protect your financial well-being.

Does Car Insurance Cover Hit-and-Run Accidents?

Yes, car insurance typically covers hit-and-run accidents if you have the right coverage in place. It's crucial to review your policy and speak with your insurance provider to understand the specific coverage and deductible associated with hit-and-run claims.

Collision Insurance

Collision insurance helps pay for the repairs to your vehicle in the event of an accident, including hit and run incidents. If you have collision coverage, you may be able to file a claim and have your insurance company cover the cost of repairs.

Uninsured Motorist

Uninsured motorist coverage can provide compensation for injuries sustained during a hit and run accident. If the responsible party cannot be identified or does not have insurance, your uninsured motorist coverage may help cover medical expenses and other damages.

Medical Payments

Medical payments coverage, also known as MedPay, can help cover medical expenses for you and your passengers after a hit and run accident. This coverage can help alleviate the financial burden of medical bills resulting from the accident.

Personal Injury Protection

Personal injury protection, or PIP, is a type of no-fault insurance that can help cover medical expenses, lost wages, and other damages resulting from a hit and run accident. PIP coverage varies by state, so it's important to review your policy to understand the specific benefits available to you.

1. Evaluate the Safety of the Situation

After a hit and run accident, it's crucial to prioritize safety. If you or anyone else involved in the accident requires immediate medical attention, call an ambulance. If it's safe to do so, move your vehicle to the side of the road to prevent further accidents.

2. Contact the Police

Call the police and report the hit and run accident. Provide them with all the information you have, including the description of the other vehicle and any witnesses. The police will create an official report, which can be useful when filing a claim with your insurance company.

3. Gather Information

If possible, collect information from witnesses who saw the hit and run accident. Their statements can help support your claim and provide additional evidence. Take photos of the accident scene and any damages to your vehicle as well.

4. Contact Your Car Insurance Company

Notify your car insurance company about the hit and run accident as soon as possible. They will guide you through the claims process and help you understand the coverage available to you. Provide them with all the details and evidence you have gathered.

It's important to note that insurance companies may have specific requirements and timelines for filing a hit and run claim, so it's crucial to act promptly.

Hit-and-Run Insurance FAQs

Here are some frequently asked questions about hit-and-run insurance:

• Will my insurance rates go up if I file a hit and run claim?
• What should I do if I can't identify the other driver involved in the hit and run?
• Do I have to pay a deductible for a hit and run insurance claim?
• How long do I have to file a hit and run claim?
• Does liability insurance cover a hit and run?

These are just a few examples of the questions you may have when dealing with a hit and run accident. It's always best to consult with your insurance provider to get accurate and personalized answers.

Conclusion

Dealing with a hit and run can be a challenging experience, both emotionally and financially. While filing a hit and run claim may have an impact on your insurance rates, it's important to weigh the potential consequences against the financial burden of covering the damages yourself.

Remember to review your insurance policy, understand the coverage available to you, and communicate effectively with the police and your insurance company. By taking the necessary steps and making informed decisions, you can navigate the aftermath of a hit and run accident with confidence.