Car Insurance Claims and Your Premium

The frequency of claims can lead to higher insurance premiums, as multiple claims suggest increased risk to insurers. Different types of claims impact premiums in various ways, with more significant claims generally causing a larger increase. Higher payout amounts can also result in higher premiums. Conversely, maintaining a no-claim bonus can help lower your premiums. It’s important to understand how each claim might affect your rates in the long term, as frequent claims can have lasting impacts on your insurance costs.