How can I lower my car insurance after an accident?

I was in an accident last week. Will my insurance rates skyrocket?

I hope everyone was okay after your accident! Although accidents can impact your car insurance rates, it’s not always the case.
Even though you may be hesitant, you should always inform your insurance company about an accident, no matter how minor, to see how it will affect your rates. It’s better to find out of any increases now than see a hefty renewal down the line!
As for increases, if you weren’t at fault for the accident, and it was your first one, then your premium may not increase very much. If you were at-fault for the accident, you will probably lose any good driving discounts associated with your premium. You should also expect your yearly premium to increase by as much as 25% for the three years.
That said, your policy may have a clause for accident forgiveness. Statistically, the average driver will be involved in an accident roughly every 18 years—it happens. Some insurance providers recognize this occurrence as inevitable and will not raise your rates after your first accident. Not all companies offer this, so it’s best to check with your insurance.
If you check with your insurance and still find yourself paying a higher rate than you can afford, Jerry can help you save on a new policy in a matter of minutes. While getting a new policy won’t completely erase the past, it can help you save!
Matthew Macgugan
Answered on Oct 20, 2021

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