Quote:
Originally Posted by KLH
"No, thats the best part. Your insurance is only affected if a claim is your fault OR it is a claim that is disputed and you end up getting 50% of the fault (like getting sideswiped, its very hard to prove whose fault it was). Comprehensiveclaims by their nature cannot be your fault, so they will never affect your insurance."
Just a little clarification on the statement above.
Each insurance company has its own policies regarding increasing rates related to submitting a claim of any type.
Some companies will raise your rates for comprehensive or collision claims regardless of who was at fault, or the amount paid out. Some have thresholds and will only raise your rate if the amount exceeds a specified dollar amount. Some won't increase your rates if you've been a long time customer with little to no previous claims history. Some will raise your rates based on an inquiry call regarding whether or not you should submit a claim regardless if you submit the claim or not.
Insurance regulations vary from state to state.
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I was under the impression that this sort of system is mandated by insurance regulations, but I suppose that makes sense that it is not the case in all states. I can say from experience that my response is true for Geico and for State Farm, specifically for those companies in NY, PA, MO, and CA. That being said, I would expect most large, multi-state insurance companies would adopt a similar (strict/tightly-regulated) system so that they could satisfy the regulations in all states where they operate.
