How Does A Hit And Run Affect Your Insurance?

How Does a Hit and Run Affect Your Insurance? 

If you’ve been involved in a hit-and-run accident, you probably want to know how it impacts your insurance policy. Hit and runs often result in lower insurance rates, but you’ll want to know exactly what coverage you’ll need. Here are some important things to remember:

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Uninsured motorist coverage 

If you’ve been in a car accident and the other driver was uninsured, you can file a claim under your UMPD coverage. Fortunately, most states require uninsured motorist coverage. It’s also fairly inexpensive to add to your policy. You may need to pay a deductible, though. 

Uninsured motorist coverage is a vital part of protecting yourself from the cost of medical expenses incurred by the other driver. This type of coverage is required by law in some states, while it is optional in others. It’s a very reasonable addition to your auto policy, and it’s a great way to protect yourself in the event of a hit-and-run. 

Personal injury protection 

Personal injury protection insurance is an option that pays for medical expenses, no matter who is at fault in a collision. It may also cover lost wages or child care. Its availability varies by state. In some states, it’s mandatory. In other states, you can get it without a deductible. However, if you’re the victim of a hit-and-run, your rates may be higher than normal. 

Personal injury protection insurance is separate from liability insurance. It covers the policyholder and any other person who was in the vehicle at the time of the accident. Liability insurance, on the other hand, pays for third-party medical costs. It does not pay for your medical expenses. In states where liability insurance is mandatory, personal injury protection insurance is optional. 

Collision coverage 

Collision coverage pays for damage to your car and other property, no matter who was at fault in a crash. In some cases, a hit-and-run accident victim may be able to claim on their collision policy. However, the hit-and-run driver will likely be responsible for paying your deductible, which is a percentage of your claim that you must pay before your insurance plan starts to pay. Most people carry deductibles of $500 or $2,000. Fortunately, in some cases, you can get this money back from the other driver’s insurance policy. 

While the cost of a hit-and-run claim can be high, many types of insurance policies can provide coverage for this type of claim. Some types of coverage may even cover hit-and-run accidents without identification. 

Penalties for hit-and-run accidents 

Penalties for hit-and-run incidents can have a serious impact on your insurance premium. If you are found guilty of hitting and running, you could face jail time up to 15 days, three points on your license, and a significant increase in your premiums. Taking a defensive driving course is an easy way to reduce the impact of a hit-and-run conviction. You can take one of the many DMV-approved courses online. 

When you are accused of hit-and-run, it is important to contact the police and file a police report. In many cases, you can be penalized with a fine of up to $500 for leaving the scene. In some cases, you may also be sentenced to jail time if you were at fault for the accident. 

How Does A Hit And Run Affect Your Insurance? | Montag Law