If you’re like most people, you probably don’t think about your car insurance rates until something goes wrong. When something does happen, like a car accident, it can be a rude awakening. Suddenly, you are faced with the possibility that your rates may increase?—sometimes significantly. Here are a few ways car accidents can affect your insurance rates and what you can do to reduce them.
How Accidents Affect Your Rates
Your insurance premiums may increase by hundreds or even thousands of dollars depending on the severity of the accident and your driving history. Car accidents are one of the biggest factors considered by insurance companies when calculating your premiums. It largely depends on the circumstances, such as who was at fault and the severity of the accident. A small fender-bender will have a smaller impact than a more serious collision. Ultimately, you’ll want to talk to your agent about how your circumstance will affect your premium.
How to Keep Your Insurance Rates Low
Other than avoiding accidents, the following are some ways to maintain low insurance rates:
