Getting into an accident is always a stressful experience, and one of the most common questions people ask is how much will their insurance rates go up after hitting a parked car. In this blog post, we’ll discuss the factors that can influence the amount of your insurance rate increase, as well as what you can do to minimize the impact to your wallet. Read on to learn more about how much you can expect your insurance to increase after hitting a parked car.
How Much Does Insurance Go Up After Hitting a Parked Car?
The amount that your insurance premiums go up after hitting a parked car will depend on a variety of factors, including the type of coverage you have, the severity of the damage caused, and the insurance company’s policies. Generally speaking, however, you can expect your premiums to increase significantly if you are found at fault for the accident. Depending on the circumstances, your premiums may go up anywhere from 10-50 percent, and in some cases, your insurer may even drop your coverage altogether. It is important to remember that the amount of your premium increase can also be affected by factors such as your driving record and the state you live in.
What To Do After Hitting a Parked Car?
If you hit a parked car, the first thing you should do is to stay at the scene and contact the police. You should also exchange insurance information with the other driver, if applicable, and take pictures of the damage caused. Depending on the state you live in, you may also be required to file a police report. Once you have taken care of the necessary steps, you should contact your insurance company and let them know what happened.
Will My Insurance Cover the Damage?
Whether or not your insurance will cover the damage caused by hitting a parked car will depend on the type of coverage you have. Generally speaking, if you have comprehensive or collision coverage, your insurance should cover the damage. However, if you are found to be at fault for the accident, your insurer may choose to not cover the damage or may require you to pay a deductible.
What If the Parked Car is Uninsured?
If you hit a parked car that is uninsured, you may be responsible for paying for the damage out of pocket. In some cases, your insurance may provide coverage for the damage, but it is important to check with your insurer first. Additionally, if the other driver is uninsured and you are found to be at fault for the accident, you may be liable for any medical expenses incurred by the other driver.
Can I Sue the Driver of the Parked Car?
In some cases, you may be able to sue the driver of the parked car if you are found to be not at fault for the accident. However, it is important to remember that the driver of the parked car may not have any assets or insurance to cover the damage, so the chances of recovering any damages are slim. Additionally, it is important to note that the driver of the parked car may be able to sue you if you are found to be at fault for the accident.
What If I Hit a Parked Car and Don’t Have Insurance?
If you hit a parked car and do not have insurance, you may be held liable for any damage caused. Additionally, depending on the state you live in, you may be subject to fines or other penalties for driving without insurance. In some cases, you may be able to pay for the damage out of pocket, but it is important to remember that the other driver may still be able to sue you for any medical expenses incurred.
FAQs on How Much Does Insurance Go Up Hit Parked Car
1. How does hitting a parked car affect my insurance?
Hitting a parked car can have a significant effect on your insurance premiums. Depending on the severity of the accident, your insurance company may raise your premiums or even cancel your policy. It is important to contact your insurance company immediately after an accident to ensure you are properly covered.
2. How much will my insurance go up if I hit a parked car?
The amount your insurance premiums will go up after hitting a parked car will vary depending on the severity of the accident and the insurance company. Generally, if the damage is minor, your premiums may only go up a small amount. However, if the damage is more severe, your premiums could increase significantly.
3. What if I hit a parked car and don’t have insurance?
If you hit a parked car and do not have insurance, you may be held liable for the damages. Depending on the severity of the accident, you may be required to pay for the repairs out of pocket. It is important to contact the owner of the parked car and your local authorities to ensure you are properly covered.
4. What should I do if I hit a parked car?
If you hit a parked car, it is important to remain at the scene and contact the owner of the car. You should also contact your insurance company and local authorities to report the accident. It is important to gather as much information as possible, such as contact information and insurance details, to ensure you are properly covered.
5. Can I be sued if I hit a parked car?
Yes, you can be sued if you hit a parked car. Depending on the severity of the accident and the insurance coverage of the parked car, you may be held liable for the damages. It is important to contact your insurance company and local authorities immediately to ensure you are properly covered.