How to Lessen Your Auto Insurance Premium After a Car Mishap

6th December 2020

Do you have a role to play in lowering your insurance rates after an auto accident?

Suppose you did not sustain any injuries during the accident, you may still feel some discomforts in your pocket, caused by the rise in your auto insurance bill. The reason for this is that some car insurance companies increase the insurance premium of drivers who have recently been in a car accident.

You may not feel the financial strain immediately as most times, it reflects when your car insurance is up for renewal. Even when you are not at fault, you will still bear the loss if you cannot find your way around it.

That is more reason why you will need to continue reading to find out ways by which you can lessen your auto insurance rates after an unforeseen car mishap.

  1. Compare Insurance Quotes

In case you are wondering …? well, pause for a minute because it is a very healthy practice. Dedicate yourself at least once every year to looking out for better prices on coverage and comparing insurance quotes; to be sure that you are getting enough value off your auto insurance premium.

In other words, the same way you head to the supermarket and compare the prices of two similar products before choosing the one that suits your present needs, you can apply that same technique before renewing your auto insurance coverage.

If you are an Uber driver and are looking for affordable rates on car insurance, click here for quotes on Uber insurance.

  1. Drop Your Comprehensive Coverage

That is, by far, one of the most used antidotes to lowering your insurance premium after an accident.

Eliminating your comprehensive coverage will help you lower your rate despite the car mishap, and the good news also is that after about six months of clean driving, you can restore your comprehensive coverage to its initial state.

  1. Report Every Accident

Try not to treat this as trivial because it might end up causing more harm than good. When you are involved in any car accident, do well to inform your insurance provider about it, irrespective of how trivial or minor the accident could have been.

That is because if the other driver decides to sue you in the future, then you’ll have to offset the legal fees and judgments that will ensue. After all, your insurance provider may not provide you with the support that you expect to receive.

It’s always safe to keep your insurer informed about every form of road use accident.

  1. Become More Knowledgeable

Insurance providers have a preference for drivers who are open to learning more about driving and road use.

For instance, are you aware that when you take a defensive driving course and complete it, you stand a high chance of lowering your insurance rates? Well, now, you know.

So, if you have been in a car accident, you should consider enrolling in a driving course, of which some of them are available online.

That way, you will be saving more money off your insurance premium.

  1. Adjust Your Policy

Just because you were in an auto accident, that is not enough reason to feel disappointed in yourself and angry at your insurance premium.

One way by which you can lower your auto insurance rate is by taking the effect of raising your deductible into consideration. Similarly, you can also choose to lower your property damage liability limits or even reduce the amount of your bodily injury liability coverage.

Either of these options will end up earning you an affordable rate. Just be sure that you have enough coverage for your vehicle; should another accident occur.


Enquire About The Accident Forgiveness Clause

That would depend; mostly on your insurance provider. However, for some Insurance companies, they are willing to overlook the first accident and withdraw the charges on your insurance rates.

On the other hand, some other Insurance companies demand that you should have no records of accidents for three to five years before they can wave off the additional charges.

Find out more from your insurer, and you just might be lucky.

If you have ever had to incur the extra charges on your insurance premium due to an accident, then you are probably wishing; you saw this information much earlier.

Auto accidents; can be reduced to the barest minimum, but you cannot eliminate them. Now that you know better, you have joined the league of drivers who know how to lessen their insurance cost after a car mishap.

How does that make you feel?