December 20, 2010

Hit And Run Accidents And Why They Can Be Expensive

Most people obtain auto insurance quotes in order to compare different policies and to find the best coverage and premiums to suit their needs. Auto insurance is meant to protect a driver from the high cost of auto accidents or other perils that can crop up, such as fire, theft, vandalism, or a hit and run accident. Without a valid auto insurance policy in place, a driver would be responsible for paying vehicle repairs and medical expenses resulting from a motor vehicle accident.

Hit and run accidents are very common in every city. A hit and run accident happens when a driver hits a parked car, a moving vehicle, any type of personal property, or a pedestrian and then flees the scene. Often, the driver leaves out of panic because they do not carry adequate car insurance, they may be impaired by alcohol or drugs, or they do not want to face the consequences. In fact, leaving the scene of an accident can have far more serious repercussions than being charged for the collision.

In both cases, the responsible party's insurance rates will increase. Causing a collision can be serious, especially if there are injuries or deaths involved but leaving the scene then makes it escalate into a more serious charge. A hit and run accident can substantially impact your car insurance rates. If you shop for auto insurance quotes and the insurance company finds out that you were responsible for a hit and run accident, you will notice that your quotes will skyrocket. This is because you are considered to be a high risk driver.

Even if you are not the driver responsible for a hit and run accident, you may find yourself paying out more money for car repairs and injuries. This extra expense can be avoided by purchasing uninsured/underinsured motorist insurance. This is an optional coverage, but may be mandatory in some states, so always check to see what your state insurance requirements are. This insurance will kick in if you are involved in an accident with a driver who doesn't carry adequate insurance. A hit and run accident also falls into this category as if not found, the driver will be assumed to not carry valid insurance. The premium is relatively inexpensive and can save you hundreds or even thousands of dollars.

Before you commit to a particular auto insurance policy, always ensure that all of your questions have been answered. If you are unclear about any aspect of car insurance, you may find yourself paying much more than you anticipated and what you thought was covered by your policy may have to be paid out of pocket.