Subject: Significant Premium Hike After Not-At-Fault Accident
I was involved in an accident where I was determined to be not at fault. This incident occurred in a different state while I was driving my sister’s car, which has its own non-progressive insurance policy. I recently received my renewal offer, and it’s more than twice my previous premium.
Is this kind of increase typical, even though I wasn’t at fault and Progressive wasn’t involved for either party?
It’s definitely frustrating to see a significant premium increase, especially after a not-at-fault accident. While it may seem unfair, insurance companies often raise premiums due to various factors that might not be directly related to the specifics of your accident. Here are a few reasons why you might be experiencing such a steep increase:
Claims History: Insurance companies consider your overall claims history, so even a not-at-fault accident can impact your premium if they believe it signals a higher likelihood of future claims.
State Regulations: Premiums can vary significantly depending on the state where you live. Changes in state regulations or an increase in claims in your area can affect rates.
Market Factors: The insurance market as a whole can shift due to economic conditions, leading to increases in premiums across the board.
Your Insurance Profile: Changes in your personal insurance profile, such as a shift in your credit score, driving record, or even your location, can also influence premium costs.
Company Practices: Different insurers have different practices and algorithms for assessing risks. Some may be more aggressive in raising premiums even for not-at-fault claims.
It might be worth reaching out to Progressive to get clarity on the increase and see if there are any discounts you may qualify for. Additionally, comparing quotes from other insurance providers could help you find a more competitive rate.