Question:

Is it true that there has to be at least $1000 of property damage for an insurance company to raise my rates?

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I was in an accident that was my fault. I rear-ended someone. There were no injuries. Just damage, to the car, that I hit. I've heard that an insurance company can't raise my rates unless there is at least $1000 of total property damage. Is this true?The accident occurred in upstate NY.

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6 ANSWERS


  1. It actually depends on the insurance company.  However, in most cases where there is only minor property damage, your rates MAY not increase.  You may also have 'first accident forgiveness' on your policy.


  2. Dan G, I recommend an online insurance quote. It's free and generally hassle free. http://www.autoadviceonline.com/Auto-Ins...



    Good Luck!

  3. There is no monetary amount that decides on rate increases. This is done by the company. The cheaper the insurance, the faster they will raise your rate for claims paid out.

  4. you could try to obtain as much as resource as you can by search the keyword in search engine,if you have good luck there,then your problem solved.however,if you could not find the answer by doing that,here is the relevant resource i prefered.http://insurance.free-onlinetip.info/ins...

  5. nope

  6. They set their rates to whatever they want to based on various risk factors, moving violations, at fault accidents, history of the neighborhood where it spends the night, etc.

    Sometimes a rate increase may not be apparent.  For example they might normally have a renewal discount, and that discount you may not even know about might disappear.  So they could hit you just keeping the rates the same instead of going down.

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