Automobile Insurance Rates Miami Florida FL
Reader’s Question:
I just bought a new car and I’m wondering what would happen to my automobile insurance rates in Miami Florida if I have an accident? Though I hope I never will.
Scotty
Maimi FL
The reality is when you get into an accident, your automobile insurance rates in Florida has a big chance of increasing. This increase though will depend on a lot of factors. The severity of the accident is one of these. Unless the accident you were involved in was very minor, and I mean very, then you will experience a rise in your premium.
The severity of the accident will also determine how much the insurance company is going to pay which can reflect later on your premiums. But if you can prove that you weren’t the one to blame for the accident, companies have what is called in the industry as a “forgiveness feature.” In this case, your rates won’t increase.
It is also not just about accidents. Even getting a ticket can increase the rates. According to some surveys done, those who received tickets had their rates go up by as much as 60%. Pretty steep wouldn’t you think so?
Another factor that companies consider is the MVR and CLUE report. An MVR is known as the “Motor Vehicle Report” while CLUE stands for ” Comprehensive Loss Underwriting Exchange.” You probaly won’t have to worry much about MVR since around 75% of violations are typically not recorded on an MVR. The CLUE however is the one thing to look out for. This is where information such as type and date of loss and amounts paid are stored.
Now if you’re thinking of just hiding what happened to your car, I’ll tell you now, don’t! It may take some time for the company to find but they often do in the end. Once this happens, an increase in your automobile insurance rates will be the last thing on your mind. Not only will you not get your insurance renewed, but the new company where you will be applying will also not issue a policy.
I hope I’ve managed to answer your question on automobile insurance rates in Miami Florida. Feel free to ask more in the future. We’re always willing to help.