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How Much Do Insurance Premiums Go Up After a Motorcycle Accident?

May 27, 2021Motorcycle Accident

A motorcycle accident can affect many areas of your life, from your physical health to your financial well-being. After a collision, you not only have to pay for medical care and bike repairs—you may also see an increase in your motorcycle insurance premium. Insurance companies often increase monthly rates when their policyholders are involved in collisions. If you were not responsible for the accident, however, you could fight against these price increases.

Motorcycle Insurance Requirements in Georgia

Like drivers, motorcyclists in Georgia must carry certain amounts of liability insurance. Georgia law requires at-fault drivers to pay for the damages of any victims in accidents that they cause. To uphold this financial responsibility, you will need to hold liability coverage in the following minimum amounts.

  • $25,000 for bodily injury or death per person per accident
  • $50,000 for total bodily injury or death per accident
  • $25,000 for property damage per accident

You can choose to purchase higher amounts of coverage if you wish. Failure to hold motorcycle accident insurance can result in hefty penalties, such as fines and registration suspension.

Premium Increases After an At-Fault Accident

Insurance companies assume financial risk by insuring motorists. As a result, these entities base premium rates off of a number of factors, such as age, geographical location, and a history of previous collisions. The higher of an insurance risk that the company deems you to be, the higher your monthly premiums will cost.

Filing a claim on your policy will likely increase your premium rates, especially if you are at fault for the collision. If an injured driver files a claim against your insurance, the company will also increase your monthly payments. Any marks on your driving record—which will likely occur if you are responsible for a collision—will also affect your monthly premium.

The amount that your rates will increase depends on a number of factors, including internal company policies and your driving history. According to data in Forbes, the national average premium increase is 41 percent for drivers who do not have a history of accidents. If you have previous collisions on your record, the increase could be higher.

Can the Insurance Company Increase My Premiums If I Am Not At Fault?

Under Georgia Code 33-9-40, an insurance company cannot raise your insurance premiums if you are not responsible for the collision. The company is also prohibited from raising premiums if you use uninsured or underinsured motorist coverage. If you are the victim of a motorcycle collision, your insurer should not increase your monthly rates.

However, motorcyclists often face unfair scrutiny and judgement from insurers—leading to accusations of fault and unjustified premium increases. You have the right to fight against this decision, but you will need to prove that the other driver is responsible for the collision. In these situations, you need an advocate on your side.

If you are facing a premium increase after a motorcycle accident, speak to an attorney as soon as possible. Your lawyer can represent you in negotiations with your insurance company and help prove that you did not cause the collision. Additionally, a Georgia motorcycle accident lawyer can help you file a claim against the at-fault driver, helping you recover the compensation you need to heal.

After your collision, seek emergency medical attention and save all evidence related to your accident and injuries. Once you receive treatment, contact an attorney to discuss your legal options and plan your next steps. Your lawyer will evaluate your case and identify your optimal path to recovery.