What goes into a car insurance rate increase in Las Vegas? That’s a simple question, with a rather complex set of answers. Determining the best course of action, when it comes to filing a car insurance claim in Las Vegas can turn out to be a rather complex situation. First off, the policy holder needs to figure out whether it would be best for them to pay for the cost out of their own pocket or simply pay for their Las Vegas car insurance deductibles. In this case, most vehicle insurance experts will advise you to try and work out the costs of covering the damage, in case a claim hasn’t already been filed. If you can get a cost estimate, it will be relatively easy to figure out what works best for you in terms of expenses. You might come to the conclusion that taking care of the damage out of your own pocket will cost you less than paying for the deductible.
Should you expect a car insurance rate increase in Las Vegas after a claim?
The short answer is that you can’t really tell. It all depends on your insurance provider, as well as on the nature of the claim. If you can prove the claim has occurred as a direct result of a situation you couldn’t really control (such as hitting a deer on the road), you can be sure you will not see a car insurance rate increase in Las Vegas. However, most other situations are less simple to predict.
What is ‘accident forgiveness’?
You can think of ‘accident forgiveness’ as a ‘get out of jail free’ card. In other words, it’s your one-off opportunity to emerge after a claim with your car insurance rates unchanged. Some insurance providers in Las Vegas will let you off the hook once, especially if your driving track record has been relatively clean up to that point.
Small claims versus large claims
What you should know about the way in which providers calculate a potential car insurance rate increase in Las Vegas is that they all have their respective thresholds for what constitutes a major claim and a small one. Small claims aren’t usually accompanied by a car insurance rate increase in Las Vegas – this means anything that is below $1,800. Claims for damage ranging between $1,800 and $2,800 do run the risk of an insurance premium cost hike, and anything that is above $2,800 is very likely to cause a significant hike in the cost of your insurance. Of course, this doesn’t apply across the board, without exception, but most insurance companies in Nevada subscribe to the above rules.
What if this is not your first claim?
By and large, the more damage claims you file with your car insurance company, the more likely you are to see a price increase. As such, the only sure-fire way to be certain that the cost of your insurance stays the same is to keep a clean driving record. Make note of the fact that if you’ve already filed two insurance claims and are facing a third one, chances are you could see a price increase of as much as 50 per cent.