Insurance Rates After a McKinney Motorcycle Accident
Insurance rates are based upon direct and relative risk. One of the things that motorcycle insurance carriers understand is that the chances of a biker suffering injury and that harm being severe are much higher, which in turn affects the rates motorcyclists are charged. If you have questions about how a motorcycle accident in McKinney might affect your insurance rates, a seasoned motorbike crash attorney could offer advice customized to your situation.
Do Motorcycle Wrecks Affect Insurance Rates More than Car Wrecks?
Liability insurance rates can be affected by an at-fault wreck. If someone is driving a vehicle, whether it is a motorcycle or a car, and they fail to stop at a stop sign or are distracted in some manner, any harm they cause a third party, as a result, is going to affect their rates.
However, for people driving a vehicle, it is likely to affect their rates less if they happen to hit a motorcycle than if they hit another car because insurers understand it is harder to see motorcycles than it is another vehicle. Similarly, there are a lot fewer motorcycles on the road than there are vehicles on the roads, so the chances of someone getting in a similar wreck in the future are not as high.
Alternatively, if someone in McKinney is on a motorcycle and they negligently cause a wreck—for instance, they run into a pedestrian or ignore traffic signals and hit another vehicle—their insurance rates generally increase dramatically. Insurers figure that someone on a motorcycle should be more careful than other motorists, and if a biker is seen as less careful, the rates they pay are going to be substantially higher.
Other Factors That Can Affect Insurance Rates
There are lots of factors that can influence a McKinney motorcyclist’s insurance rates after an accident. The severity of the accident is always a factor. This is because more egregious behaviors often result in more traumatic harm. This will impact insurance rates as a result, because the insurance companies perceive the risk to be higher.
One other factor that will impact rates includes claims history. The more injuries or accidents that a person is responsible for, as well as the more speeding tickets or other moving violations they have had, the greater their rates are going to be.
Another factor that influences a McKinney motorcyclist’s insurance rating is their credit score. The correlation insurance companies have found is people who are responsibly handling their finances are more likely to be safe while operating their vehicle or motorcycle.
Discuss Insurance Rate Changes After McKinney Motorcycle Crashes
Your insurance obligations may change significantly following an auto accident of any kind, but the shift in your premiums may be especially severe if you were riding a motorcycle during your crash. Among other services, an experienced motorcycle accident attorney may be able to provide some guidance about your insurance rates after a McKinney motorcycle accident. Call today to find out more.