Does Motorcycle Insurance Go Up After Accidents?

Austin, TX residents like you love riding motorcycles around the beautiful Texas landscape. However, what happens when you get into an accident? Will your rates increase? That’s what we at Southwest Insurance Center are here to help you find out.

Rate Increases Aren’t Always Automatic

One thing that is important to understand is that rate increase aren’t always automatic after an accident. Rate increases are common if the person driving the motorcycle was at fault or if they had no-fault insurance. It is also likely if the crash was very severe and the bike was wrecked. Increases are caused by an insurance company feeling uncertain about the safety of a specific driver.

Typical Rate Increases

If your insurance company has told you that there will be a rate increase after your motorcycle crash, it is important to know a typical rate increase. The Insurance Services Office suggests raising it by a minimum of 20 percent all the way up to 40 percent. However, some companies may increase rates by as much as 100 percent, particularly in dangerous motorcycle accidents caused by the driver.

Other Concerns

Another problem that often affects motorcycle drivers after an accident is a subrogation. This occurs when your insurance company wants some reimbursement after an accident if you pursue a lawsuit and win. Motorcycle accident lawsuits are common, and insurance companies may feel they are obligated to some of that money. However, these demands are illegal, unlike a rate increase. Thankfully, most companies won’t try this sort of thing.

Protecting Yourself From Increased Rates

If you live in Austin, TX and you’re worried about increased motorcycle insurance rates, please contact us at Southwest Insurance Center today. We will work to decrease your rates and keep you from paying excessive amounts of money.

Tornadoes- Stay Safe & Get Covered!

Major storms can wreak havoc on your boat, rendering it completely useless and costing you a fortune in the process. It’s important to keep yourself and your boat safe when a major storm is on the way. We may not have to worry about hurricanes here in Austin, TX, but as you know, tornadoes can cause just as much damage. Use the following tips to keep yourself and your boat safe when you hear the thunder begins and the tornado sirens sound. 

– Get off of the water. While it may be tempting to wait out the storm and see if it passes, it’s always a bad idea. When you’re warned of an incoming severe thunderstorm or tornado, it’s time to return to shore and get the boat out of the water if possible.

– Once your boat is safely secured on shore, remove any important papers or documents if you have time. If the storm is nearby, skip this step, of course.

– Evacuate the boat. It’s not a good idea to wait out the storm on your boat, even after it’s secured at the shore- you need to head to a safer location. If a sturdy building is not available, you’ll be better off in your car than on your boat. 

– Remove your boat from the water if possible. If not possible, take precautions. Make sure your boat is safely secured to a sturdy dock. Leave plenty of slack in the rope so that your boat is able to rise with higher tides, if necessary. 

There’s no doubt about it- storms happen, especially in Texas, and it’s important that you’re prepared. Call Southwest Insurance Center for your boat insurance needs.