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Does Car Insurance Premium Remain The Same Irrespective Of An Accident? |
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By Vijay Koragappa Shetty
 Your insurance company will charge a higher insurance premium if you have been involved in an accident. Whether you are responsible for the accident or not, an insurance company will have to bear the expenses.
Post accident will cover you for any personal injury, medical coverage and collision. In case you are found at fault you will still be covered for a compensation to repair your vehicle or any injury to yourself or another driver. This will soon increase your insurance quote in the coming months. You will end up paying more than your earlier insurance payments. Here is a catch on how insurance companies recover the compensation amount that they offer you. They will not be ready to bear your expenses with out knowing how to recover at least a portion of the claimed amount. Soon after an accident, your insurer will look at you as a high risk driver. The percentage of increase in quote would be between 20-40% for about 3 to seven years. In case of multi-car policies, the surcharge is 20 percent of the base rate, and for |
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