No one wants to get into a car accident, no matter who’s at fault, but one thing that most don’t want to think about after the dust has settled, is how it will affect their premium or insurance rate. Because there are so many variables when it comes to car accidents, there’s not one way to know how an accident will affect you directly, but there are some factors to think about.

If you get into an accident, the first thing you will do is to file a claim. Depending on the damage, who is at fault, and other factors, your rate won’t typically increase until the policy is renewed. Just because you have a car accident, doesn’t mean your rate will increase. Some think that just because you are in an accident, no matter who is at fault, your rate will increase. But that is simply not the case.

The best case scenario is that you are never in an accident, but that’s not how things go for a lot of people, so if you are in an at-fault accident, it is more than likely that your rate will increase. But depending on your driving history and record, it may not be a significant increase. Your driving history is probably the biggest determining factor in whether your rate will increase and by how much.

Your rates will usually decrease as time passes and the longer you are accident free. In many states the surcharge will decrease over the span of three years so it pays to be a safe driver consistently.

Can I Lower Rates Any Faster?

The last thing anyone wants to deal with after an accident is pay more money for an insurance increase. The good thing is there are solutions to this issue even if you don’t qualify for accident forgiveness. Some ways to do that are as follows:

  • Improve your credit: Pay down balances and review your credit report
  • Increase your deductible: If you have a higher deductible, your premium will be lower but that will mean a higher monthly payment
  • Discounts: Ask your local agency or current provider if they have any discounts you may qualify for like good grades or a bundle deal
  • Lower your coverage: If you’re paying for comprehensive or collision, you can lower your coverage to liability which will decrease your premium
  • Change providers: It’s always a good idea to check out your options and one of those might be able to give you a better deal so don’t be afraid to shop around

Contact Us Today!

We know that car accidents are troublesome but the whole point of having insurance is to make the process easier if you happen to find yourself needing to file a claim. If you have questions about your rates or are shopping around for a new policy, don’t hesitate to reach out to our team at Willoughby Insurance in Buffalo, NY today!