Filing an Auto Insurance Claim? Think Again
—Annual State-by-State Analysis Reveals Insurance Rates Following One Claim Continue to Spike—
AUSTIN, TEXAS (February 28, 2017)—Drivers beware! For the fourth year in a row, insuranceQuotes.com examined the average economic impact of filing an auto claim—and the results, to some, may be staggering.
The study reveals premium increases of 44.1% (a 6% jump from just three years ago) after filing a single claim of $2,000 or more. The rate spike costs consumers $371 per year on average. Filing a second claim in one year is even more costly, with an average increase of 99.4% (a 13% jump from 2014).
“The rate increases drivers pay after filing a claim keep getting bigger, and this trend is likely to continue,” said Laura Adams, senior insurance analyst at insuranceQuotes. “It underscores just how important it is for consumers to shop and compare rates on a regular basis.”
These five states show the highest average premium increases after filing one claim:
- California – 63.1%
- New Hampshire – 60.3%
- Texas – 59.9%
- Massachusetts – 57.3%
- North Carolina – 57.3%
Meanwhile, these five states showed the lowest increases:
- Maryland – 21.5%
- Michigan – 26.1%
- Oklahoma – 27.9%
- Montana – 30.2%
- Kentucky – 30.6%
Of the three types of claims analyzed—bodily injury, property damage, and comprehensive—bodily injury costs consumers the most, with average premium increases of 48.6%.
The full report—which includes rankings of all 50 states, along with additional tips and insights—is available at /auto/auto-claims-rate-increase-22817.
insuranceQuotes commissioned Quadrant Information Services to examine how claims affect car insurance premiums using data from the largest carriers in all 50 states and the District of Columbia. Assumptions included a $2,000 claim and policy limits of $100,000 for bodily injury liability for one person, $300,000 for all injuries and a $500 deductible on collision and comprehensive coverage. Averages are based on a 45-year-old married, female driver who drives a 2013 sedan and has never filed a claim.