Insurance carriers price their premium rates according to a policyholder’s perceived level of risk. This means that the riskier a driver appears to be, the more expensive their insurance coverage is. Driver premiums can increase when drivers cause accidents, but if another driver hits your vehicle while it is parked, this should not increase your premium rates. However, if you were parked illegally, this could change things. Review the terms of your insurance policy so you know your rights and responsibilities regarding how your premium rate could increase.