The answer is \u201cNO\u201d, despite insurance industry claims to the contrary. The fact is\u00a0that if a driver is negligent and causes an accident, the driver\u2019s premium will go\u00a0up based on pre-set actuarial tables whether or not the fire department generates\u00a0an invoice. This is understandable in light of the fact that a typical cost recovery\u00a0payment ($450-650) is less than 3% of the total claims for a given multi-vehicle\u00a0incident, ($16,000 according to the National Highway Traffic Administration\u00a0System).<\/p>\n","protected":false},"excerpt":{"rendered":"
The answer is \u201cNO\u201d, despite insurance industry claims to the contrary. The fact is\u00a0that if a driver is negligent and causes an accident, the driver\u2019s premium will go\u00a0up based on pre-set actuarial tables whether or not the fire department generates\u00a0an invoice. This is understandable in light of the fact that a typical cost recovery\u00a0payment ($450-650) … Continue reading Will Cost Recovery Cause Insurance Rates to Rise?<\/span>