If you’ve had an accident, you’re probably already stressed about injury or damage. And if you’ve caused the accident, you’ll probably get hit with a rise in your car insurance rates when it comes time to renew your policy. Ouch!
But you may be able to recover some of that extra cost with the right insurance company and with a little bit of research after your accident. There are a few ways to lower your car insurance premiums. Each company will have its own variety of options you might be able to take advantage of, so shopping around is the best way to get the best rates.
Here are some things you can do.
It never hurts to ask, right? Start with your current carrier. They don’t want to lose you as a customer, so they may be motivated to work with you to balance out your rate increase after an accident. Many companies now offer an accident forgiveness clause that protects your rates after your fist accident. Be sure you are taking advantage of it if your company offers this.
Even if you haven’t had a recent accident, it’s a good idea to review your policy every year to make sure you are taking advantage of all the discounts available to you. Your life situation is always changing, whether you get a new job, get married, buy a house, or start going to school, and your insurance rate can be reduced by all sorts of situations. Here are a few discounts you should check into.
- Safe Driver
- Good Student
- Bundling Home and Auto
- Corporate Discounts
- Multiple Car/Driver
Increase Your Deductible
Increasing your deductible decreases your premium. This may seem like a good idea, and it can be, but be careful. Make sure you have enough in savings to cover the deductible should you have an accident. You don’t want to be stuck with out a vehicle because you can’t afford your deductible.
Take a class
If you’ve had an accident or if you were cited for an incident you may be able to avoid a steep rate increase by taking a class. In some states, taking a defensive driving class may lower your rate. The class may cost you some money but less than a car insurance rate increase will cost you.
If all else fails, shop around. Comparing carriers is the best you to know if you are truly getting the best rate you can get, given your personal circumstances and driving history.
InsuranceWins can help you shop around. When you use our fast and easy form to compare rates, you can rest assured that you are getting the best rates to be found. InsuranceWins helps you narrow down your list of the best insurance companies for you.