If you get into a car accident that was your fault, there is a good chance that your auto insurance company will raise your insurance rates. Insurance companies may believe that you are high risk and increase your premiums to protect themselves. However, you still may be able to take steps to lower your auto insurance rates following a car accident. Here is how.
Always Inform Your Insurance Company About an Accident
If you were in a minor accident that did not cause any injuries or major property damage, you might consider not telling your insurance company. However, this could end up costing you later on. Sometimes car accident injuries do not show up right away. If the other driver is diagnosed with an injury weeks or months later, he or she can sue you.
Your insurance company may not pay for the damages because you did not inform them about the accident. They may also increase your premiums.
Sign Up for a Defensive Driving Course
To prove to your insurance company that you are serious about improving your driving skills and avoiding future accidents, take a defensive driving course. In this course, you will learn how to avoid traffic violations and be a safer driver. After you successfully complete the course, your insurance company may be willing to lower your premiums. The cost of the defensive driver course is definitely worth the insurance savings you may receive in the future.
Inquire About Accident Forgiveness
Some insurance companies have recognized that car accidents are common and can happen to almost anyone. As a result, they have decided to forgive their customers for their first accident. If this is your first vehicle accident, you might want to ask your insurance company if they offer accident forgiveness.
Consider Dropping Comprehensive Coverage
Comprehensive coverage takes care of non-collision damage to your car, like vandalism or theft. If your auto insurance rates recently increased due to an accident, you may want to think about dropping this coverage for the time being. If your premiums go down after you have not filed claims for a while, you can get comprehensive coverage again if you wish.
If you follow these helpful tips, you may still be able to reduce your car insurance premiums after an accident. If you have additional questions about lowering your rates, you may want to get in touch with your insurance agent.
For more information about auto insurance, contact a local agent.