How much does the premium increase after a 10,000 claim?

[DeAlana]

A single claim of 10,000 does not increase the premium, but it disqualifies you from receiving discounts. The primary purpose of auto insurance is to provide coverage for vehicles in the event of traffic accidents, where the insurance company assumes certain liability for compensation based on the terms of the policy. The more types of insurance you purchase, the more comprehensive the coverage. The role and significance of auto insurance: The basic function of insurance is to organize economic compensation and facilitate the payment of insurance claims, which is the fundamental purpose of motor vehicle insurance. Through insurance transfer mechanisms, risks and associated losses are distributed and transferred across society, helping to mitigate risks. The various risks and potential losses associated with motor vehicle usage cannot be adequately addressed solely through risk avoidance, prevention, dispersion, mitigation, or self-retention. Therefore, whether it's a new or used car, purchasing insurance is necessary after obtaining the license plate. However, nowadays, there are numerous types of vehicle insurance, and some are not mandatory to purchase.