Lately, it seems virtually every auto manufacturer in the U.S. and Japan has been recalling their cars for one dangerous defect after another. People have died as a result of faulty parts or defective systems. And, the end doesn’t appear to be in sight anytime soon. All this brings up a very intriguing question – With all the auto safety recalls going on, what affect will it have on my car insurance premiums?

Well, that actually depends on a couple of things. One of the largest automakers, General Motors (GM), was forced to recall millions of vehicles in 2014, due to faulty ignition switches in several of its models, as well as a number of assorted problems in some of their other cars. The ignition switch is the most serious of GM’s recalls – the ignition key can inadvertently switch to the “accessory” or “off” position, turning off the engine and most of the electrical components of the vehicle. Meanwhile, Toyota conducted its own safety recalls, from the Prius to the Lexus, for conditions ranging from stuck throttles to defective braking systems. Industry-wide in the U.S. alone, a staggering 16.2 million recalls were issued in 2012. The total number of cars recalled amounted to more than the total of new vehicles sold in the entire year.

If you’re one of the millions of consumers that were affected by these vehicle recalls, you’re familiar with what a hassle it can be, dealing without a car for a couple days while yours is being fixed by the dealer. For those of you who have been notified by mail by the manufacturer to go to the nearest dealership for urgent repairs and have been putting it off because you feel it‘s potentially expensive and time-consuming, pay attention.

If you have received a recall notice and get into an accident after ignoring a notification to complete the necessary repairs, as a result of your inaction and negligence, you could be held fully responsible by your insurance company. Manufacturers keep a formal record of all recall notifications and when the repairs were done. And, that would raise your car insurance premiums. So, play it safe – don’t ignore your recall notice and get the work done as soon as possible.

As far as the recalls costing you additional expenses while your car is in the shop, here’s some good news: According the National Highway Traffic Safety Administration (NHTSA), any and all costs related to the recall, including parts, repairs, and rental car reimbursement, is the responsibility of the automaker. Furthermore, even if you happen to get involved in an accident as a direct result of a recalled part or system, your insurance company will cover the claim and recoup the payout from the manufacturer. And, since the accident was caused by the automaker’s faulty part or system, your rates shouldn’t be affected. Needless to say, it’s in your best interest to get the repairs done as soon as you receive the recall letter. Not only will it make your car safer to drive, but it’ll give you peace of mind about your rates.

Speaking of policies, check that you’re getting the best rate on your car insurance. Why not get a free car insurance quote today?

Has your car ever been recalled? Feel free to share your thoughts in the comments section below.

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Auto Safety Recalls- What Affect Will It Have On My Premiums?
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Will an auto safety recall affect my car insurance premiums? See what you should know.