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Car Insurance if you are a Victim of Hit and Run?

A hit and run accident is a very common occurrence for vehicle owners. This happens when an individual causes a motor vehicle accident and knowingly leaves the scene of the accident without providing any particular information. These types of accidents tend to occur between vehicles, property and vehicles, or vehicles and pedestrians. With reference to the auto insurance facts, there are a number of ways in which the insurance payment may turn out.

  • The Liability Package of Third Parties – If you are injured in the event of a hit and run accident, you can choose to begin a law suit against the driver who is at fault in case he is found. The car insurance providers of the driver at fault will have to cover all the costs of the driver’s defense and even make the settlements upon the final verdict. Hence, this will not have any effect on your car insurance premium rates.
  • Unidentified and Uninsured Claims – According to auto insurance facts, if you are a victim of a hit and run and the driver who is at fault is not identified, you will have to access the unidentified driver policy coverage which is to be provided by your car insurance providers. If there is a case in which the driver who is at fault does not have any auto insurance, you will also have to be covered by your insurance provider.
  • Claims of Underinsurance – In hit and run misfortunes where you fall victim and the driver at fault does not have sufficient means of covering all the damages that are accompanied by the accident, the car insurance providers automatically step in. The sum of the difference that is the remainder of what the at-fault driver compensated will have to be covered by your auto insurance service provider.

Therefore, depending on the circumstances of the hit and run mishap, you might be lucky and your insurance premium rates will not be affected. If it is proven that you are indeed not the cause of the accident, and insurance company pays compensation for the related damages in an accident, it will not have an adverse effect on your premium rates. On the other hand, if the hit and run occurrence is proven to be your fault, your premium rates will end up increasing with a percentage of between 25% and an astounding 75%.