Fire damage. How much will my insurance premium go up?

[Alexander7w]

My car died while driving on the highway. I pulled over onto the shoulder and then shortly after, my car caught on fire. The car was towed and I sold it to the tow company. I then bought another car and forgot about it. 2 months later the illinois tollway sent me an invoice for $17,800 in damage saying that they needed to replace that section of road and guard rail due to fire damage and that I had to pay for it. I filed a claim with my insurance as my liability covers up to $20,000 in damage. They said my rate might go up slightly but not much because this wasn't due to an actual accident, but they couldnt say for sure.

Has anyone had this happen or would know roughly how much the insurance premium increase would be, if any? Currently I pay roughly $75 for only liability on 1 car. I'm scared that the $75 could turn into something that I can't afford, as a $17k insurance payout is HUGE and I don't see how they could make any money from me as a customer without increasing my rates drastically.

 

[fed up]

Be prepared for the forum to roast you over the 20K liability. Plan on a 30% increase in premium for the At Fault. The difference in premium between state minimums and 'real' insurance is peanuts compared with not enough to cover a claim and what could come out of your pocket

 

[adjusterjack]

I don't see how they could make any money from me as a customer without increasing my rates drastically.

That's not how it works. The surcharge (if you get one) is not proportional to the amount of the claim. In other words, it would be the same surcharge for a $1000 claim as it would be for a $17,000 claim, though it won't be exactly painless.

You'll get your renewal bill 30 to 60 days before renewal. You'll have time to shop around.

 

[Markthebroker]

Currently I pay roughly $75 for only liability on 1 car. I'm scared that the $75 could turn into something that I can't afford

You should me more scared about a more serious incident going beyond your $20k in liability coverage. If something happens and you hit someone, and they say that they are hurt, can't go to work, their nice car is damaged, etc. it could be well into 6 or 7 figures.