4 Ways To Lower Your Auto Insurance Rates After An Accident

If you've recently been involved in a car accident, there's a good chance that your auto insurance rates will increase. In fact, the average policyholder's premiums will increase by about 31% following an at-fault accident--which can quickly add up. Fortunately, there are some steps you can take to potentially reduce your rates after an accident. They can help you save some money on your insurance until those points fall off your driving record.

Inquire About Accident Forgiveness

Start by contacting your insurance agent as soon as possible after your accident to see if your carrier offers an accident forgiveness program. Many major car insurance companies will automatically "forgive" an accident if you don't have any major claims on your record within the past several years. In some cases, you may need to pay extra to add accident forgiveness to your policy.

Ask About Safe-Driving Courses

If you're not covered by accident forgiveness (or if you're not eligible due to previous claims), then you may want to find out whether your insurance carrier will offer you a discount in exchange for your completion of a safe-driving course. Depending on where you live or where the accident took place, some states will even remove points from your driving record after an accident if you complete an accredited driver-safety class at your own expense.

Revisit Your Coverage and Discounts

Another option is to review your current policy and make sure you're not paying for coverage you don't need. One way to save money on your policy premium without changing your coverage amounts is to increase your deductible. You may also want to call your insurance agent to find out if there are any new discounts you may be eligible for.

Shop Around With Other Carriers

If all else fails, you may be able to work with the auto insurance company. You may also be able to get multiple quotes. Having an accident on your record should not prevent you from being able to secure coverage from another carrier, and you may find deals offered by your company by comparing different rates. Just make sure that as you compare quotes, you're comparing the same level of coverage you currently have.

Being in an accident can cause your auto insurance rates to increase for several years, which can be costly. By taking the right steps, however, you can minimize the burden on your finances. For more information, contact an auto insurance company. 

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