Auto and Car Insurance

Insurance premium increase of 50%?

I had an accident with my RV that was about $1,200.00 on my side and very minor on the other vehicle. The accident was considered my fault and being 1 point and my first ever in over 32 years of driving. My insurance company now has increased my premium about 50%. I am in California and would like to understand the criteria for this increase. It looks like the company will recover the full amount paid in the next premiums. Where can one go to understand this? Thanks

Public Comments

1. You had an at fault accident, and your company decided to raise rates by 50%, which is their right to do. You can now look for a lower rate and leave your current company, this is your right. If you take the second option, make sure you don't drop your current insurance until the new policy is in place. I'd suggest talking to an independent agent to see what rates and companies are best for you.
2. That's a huge increase!!I would definitely look around for a different insurance company,i mean,it being your first MINOR collision,that amount of increase just does not equate.I use State Farm,i get a discount for insuring my vehicles and home with them,check their quotes while or if you're going to look for a more compromising plan.
3. Time to start shopping a better rate. A 50% rate increase is not unreasonable tho. Your carrier probably has paid out alot more to 3rd party than you know.