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How much may my car insurance go up?

September 23rd, 2009 | | Tags: | 2 Comments | |

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I am the defendant in and have just settled an automobile lawsuit at 0,000. How much may my car go up?

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2 Responses to “How much may my car insurance go up?”

  1. cocoa Says:
     September 23rd, 2009 at 7:01 pm

    Quite a bit. If you are found to be at fault for an accident your insurance of course will go up. Each state has an amount set for points that will affect your insurance. The higher the points the higher the insurance.These points aren’t the same as the ones that are on your drivers license. These are insurance points. With you having $100,000 to be paid out, you are looking at the possiblity of anywhere from 25% to 50% increase in your insurance. And not to scare you but some insurance companies will no longer be able to insure you because of the amount of this loss; you could be considered a high risk now so the cancellation of you policy is a possibility. But you would always be notified before anything were to happen.

  2. y2bmj Says:
     September 23rd, 2009 at 7:01 pm

    If you had a good record before, expect it to at least double, if not more. A friend of mine was on the losing end of a 50k dollar suit in an accident and his insurance was higher than most peoples car payments. You may also find it difficult to even obtain or maintain car insurance for a while, if your current provider doesn’t drop you you’ll probably be stuck with them for some time to come, and you should probably hold on to them because if you drop insurance all together they probably wont take you back for several years.

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