Research shows that auto insurance rates vary based on multiple factors. If you are involved in an accident, your premium will likely be impacted. Finding a strong policy in the aftermath may be challenging. Here's an in-depth look at the process.
Generally, your auto insurance rates will rise if you have been involved in an accident. Your rates will increase depending on who was at fault and whether any claims were filed. Even if your auto insurance Renton WA premiums rise, you should still be able to find coverage that aligns with your budget due to other factors.
Your insurer looks at your driving record to help create your policy. If you have been involved in an accident, your insurer may believe that you are a relatively high-risk driver. If you are viewed as a high-risk driver, your insurer may increase your premiums to protect themselves financially.
The most common way to lower your auto insurance rates is through qualifying for a discount. Contact your insurer to see which discounts are available. Perhaps you may qualify for a discount by installing new safety features on your vehicle or adhering to low mileage driving every year. You may also opt to increase your deductible. Increasing your deductible lowers your premium because you will cover more of the repair costs if you are involved in an accident.
Accident forgiveness is a feature that some insurers allow you to add to your policy to prevent your rates from increasing after an accident. Generally, you will have to establish a few years of safe driving before adding the term to your policy. Accident forgiveness also covers you if you are involved in an accident with someone who does not have insurance. It's an asset if you are worried about a potential premium increase. Be aware that the accident will still appear on your record. Also, accident forgiveness normally covers one accident. You may face a premium hike for any accidents in the future.
If you are involved in an accident, your premium may rise temporarily. However, the easiest way to avoid potential premium hikes is by practicing safe driving. If you have any questions about your auto insurance policy, contact our team at Humble & Davenport Insurance Brokerage, Inc., and we will assist you.