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What is the Duration of an Accident’s Impact on Insurance?

The duration of an accident’s impact on insurance in Georgia can vary depending on several factors. For example, according to personal injury attorney Pendergrass, among the most important things that can affect your insurance premiums is whether you were or weren’t at fault for the accident.

Because of this, car accident victims should work alongside a car accident lawyer to ensure that their case receives justice. Here are the main factors that affect the duration of an accident’s impact on insurance!

At-fault Determination

If you are at fault for a car accident in Georgia, your insurance premiums will be affected for a certain period, which can last for several years, depending on the accident’s severity and other factors discussed below. Yet, the most common timeframe affecting insurance rates is three to five years. Insurance companies use the following factors in determining fault:

  • Police reports
  • Statements from involved parties
  • Witness testimonies
  • Photographs and video evidence
  • Accident reconstruction 
  • Traffic laws and violations
  • Comparative negligence
  • Prior driving record

No-fault Accidents

Georgia follows the modified no-fault system, which means that in some accidents, the parties involved are responsible for their own damages and injuries. If fault is not assigned, the impact on insurance premiums is less significant or even non-existent. This is why it is essential to seek the help of a car accident lawyer to establish fault.

Your Insurance Company’s Policy

Insurance companies have different policies regarding how long they consider an accident when determining premiums. Yet, most companies have a three or five-year lookback period in Georgia.

Your Driving Record

Georgia drivers with a clean driving record can minimize the long-term impact on their insurance premiums. Your rates might decrease over time if you stay clear of other accidents or traffic violations.

The Severity of the Accident

In many instances, the severity of the car accident can influence the duration of its impact on insurance rates. Minor accidents with minimal damages and no injuries have a shorter-term impact than major car accidents with more property damage and significant bodily injury.

Insurance Renewals

Many insurance policies have renewal periods ranging from six months to one year. In such instances, the impact of your car accident on your insurance rates might be reassessed and adjusted with each renewal period.

With the passage of time and maintaining a clean driving record, the impact of your accident on your premiums may also gradually decrease.

Dealing With Car Accident Impact on Insurance

The duration and specifics of how an accident impacts insurance rates vary among insurance companies. Because of this, to understand your situation precisely, it’s best to consult with your insurance provider directly.

They can help you understand the specific impact and duration of your premiums. Yet, you can also seek the advice of a personal injury lawyer. Lawyers in Georgia can provide even further guidance on how car accidents may affect your insurance rates and what steps you can take to minimize their impact. 

Additionally, if you seek the help of a car accident lawyer from the beginning, you will win precious time and navigate the legal system more easily and in your favor.

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