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Yes, some insurers have rules that even if there was an accident with no payout or no claim made, your premiums will be affected. So once you report the incident to your insurer, they will consider it a claim against your future premiums. However, there are some companies out there that will not hold the incident against you, so would recommend you shop around for the best rate based on your situation.

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Q: Can a insurance company raise your premiums for a minor accident that was not your fault and no claim made. Just informed insurance company because i thought that was the right thing to do?
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What is proration?

Web Answer: The adjustment of benefits paid because of a mistake in the amount of the premiums paid or the existence of other insurance covering the same accident or disability.


Is buy sell agreement disability income insurance premiums tax deductible?

No. Also, it is probably not a good idea to try and deduct the premiums for diability or life insurance because if you deduct the premiums or if the employer pays the premiums then any benefits are then taxable. You certainly would not want to have to pay income tax on a large life insurance benefit just because you wanted to deduct a few hundred dollars of insurance premiums.


Why does the insurance company get paid back the money Isn't that why we pay our premiums?

You pay premiums because insurance companies are a business and they are there to make a profit. Also, the premiums you pay go into a pool of money so the insurance company can pay out claims when necessary.


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Yes. If it is determined that the accident was your fault, your insurance company will raise your rates. However, the rate increase is often fairly minor. If you were ticketed by the police, it may increase the rate increase because you now have both a ticket and an accident. Your insurance agent should be able to tell you how much the increase will be.


Will auto body work raise my auto insurance premiums?

No, Unless the body work is being done because of an accident that you were found at fault in. Then rates are determined if damages are over or under a certain dollar amount, this amount varies by insurance company but the threshold is usually $750.00


What is PIP insurance exactly?

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Are private disability insurance benefits taxable?

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Why do you need insurance if all you have is a permit?

because you can still get into an accident


What is the monthly accident insurance cost for a healthy man that is 31?

Accident insurance is typically very cheap because it restricts coverage to a claim involving death resulting from an accident which has a low statistical probability. Whether or not a man is "healthy" is of no relevance for "accident insurance". There are actuarial tables available that show the chance of death by accident by age and gender. If you are asking about "accident insurance" that will replace your income if you are hurt in an accident, that is typically very cheap as well. I am certain that you can get instant online insurance quotes for "accident insurance" if you use a search engine to seach the phrase "buy accident insurance"


Why does your insurance go up if you have an accident or get a traffic ticket?

Auto insurance offers some protection against risk. The company agrees to take on your risk in exchange for your premiums, the money you pay them. There has to be an actual risk covered by the company, or there can be no legal insurance contract. Even if you don't have an accident for an entire covered period, the company was covering your risk so you obviously would get no money back for that period. The money you paid goes to the payment of claims made by other policy holders. If you get into an accident, some companies will ask you to increase what you pay in premiums because the accident [or ticket] probably indicates that the company is taking on a little more risk (there may be a higher probability that you will make a future claim) by covering you. Remember, you are paying them to accept risk on your behalf.


Is this statement true premiums for term life insurance decrease as people get older?

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How to Lower Business Insurance Premiums?

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