LOS ANGELES, Feb. 9, 2022 /PRNewswire-PRWeb/ -- Compare-autoinsurance.org has launched a new blog post that presents how car accidents can affect car insurance policies premiums.
For more info and free car insurance quotes online, visit https://compare-autoinsurance.org/what-happens-with-the-car-insurance-policy-after-an-accident/
For some drivers, getting back behind the wheels after an accident can be challenging. Depending on their policies and the states they live in, drivers can experience large insurance premiums hikes after an accident. How much the premiums will go up depends on who was at fault and if bodily injury claims were made. If a driver is not at fault in an accident, his rates will probably not increase. However, some insurance providers can still raise the rates of drivers involved in accidents, even if the drivers are not at fault.
To better understand what will happen with the car insurance policy after an accident, consider the following:
- Why do car insurance premiums go up after an accident? Insurance companies take the driving records into account while creating insurance policies. Insurance providers consider that drivers who recently got involved in an accident are more likely to file a future claim than drivers who maintain clean driving records. These drivers pose a greater financial risk to their insurer and are usually charged more to cover the risk.
- What is accident forgiveness? This is an option a driver can add to his policy to prevent a rate increase after an accident. When a driver who has accident forgiveness on the policy gets into a collision, he may lose the accident-free discount, but the provider will not penalize him for being in an accident. To qualify for accident forgiveness, most providers require the drivers to maintain a clean driving record before adding this option to their policies. Inexperienced drivers and parents that have teenagers on their car insurance policy are advised to get this option if they are concerned about a premium increase after an accident. Usually, accident forgiveness typically only applies to one at-fault accident, and any subsequent accidents can increase the premium.
- How to lower the car insurance premium after an accident. Drivers who don't have accident forgiveness and got involved in an accident can still pay affordable insurance rates. First, drivers should check if they qualify for any discounts such as low annual mileage or multiple car discounts. They can also get discounts for keeping a clean driving record or for taking a defensive driving course. Also, they can pay a lower premium by increasing the deductible. Finally, drivers who got involved in an accident can save money by comparing rates from different insurance providers.
For additional info, money-saving tips and free car insurance quotes, visit https://compare-autoinsurance.org/
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