How To Reduce Car Insurance Rates After Being Involved In An Accident

After a car accident, you can so easily end up faced with the unwanted situation in which car insurance premiums double. This is mainly due to the fact that you do not know what to do. According to Noll Law personal injury lawyer, saving money is still possible even if insurance policy should go up.

Car insurance premiums so often raise after you were involved in a vehicle accident. If you want them to remain the same or at least not get too high, here are some things that you have to be aware of.

Premium Increases Might Not Apply

Your insurance premium goes up in the event that the insurance company believes you were involved in way too many car accidents or if you were involved in an accident that was your fault. The money that you will pay varies from one insurance company to the next, all based on accident severity.

Losing The Good Driver Discount

When you are at fault for the car accident and there was at least a person that was injured, the good driver discount is what is instantly lost. This means the insurance policy will go up around 25%, for a period of up to 3 years.

If faced with such a situation, the really important thing is reporting the accident. You will be tempted not to do so, even in the event that the accident was minor. When you do this, it is a certainty that bills will end up higher, all because you did not report the accident.

The First Mishap Does Not Raise Insurance Premiums

Official statistics show the fact that a driver gets into a car accident every 18 years or so. Car insurers did accept this thing so they do ignore the very first problem. Obviously, details will vary from one company to the next. Accident forgiveness might appear instantly but in some cases there is a period where the very first mishap will raise insurance premiums, around 3 to 5 years.

You Can Lower Amounts Based On Deductible

In the event that the insurance company will raise the premium, the owed amounts can be lowered through a simple increase of the chosen deductible, which is how much you pay after filing the claim for the insurance policy.

As a simple example, if you increase the deductible amount by around $300, the car insurance coverage costs can go down by up to 30%.

Final Thoughts

To sum up, one of the most important things at the end of the day is to actually see what the insurance companies offer. You will be surprised to see the huge differences in premiums between just 2 companies. The best thing that you can do is to shop around. There are countless insurance companies out there. You have to work with the one that has the very best deal available for you. It is really important that you shop around if you want to save money on car insurance rates.