Five Ways to Reduce Your Car Insurance Premiums after an Accident
Are you worried that your insurance premiums are about to rise now that you’ve had an accident? An accident is one of the things that can adversely affect your insurance premiums. Unfortunately, accidents will happen on the road whether we like it or not. So how do you go about getting cheap car insurance after accident? Find out below.
- Report Every Accident
Make sure to report every accident that you are involved in, even if it is a minor accident. Logically, it might look like a non-issue, but legally it leaves your insurer exposed. If the other driver decides to sue you, even after a long period, then you may jeopardize your relationship with your insurer. The potential ramification of this is that any legal bills and judgments that may follow will be passed on to you.
- Take Advantage of the Accident Forgiveness Clause
Accidents are a part of life. Your insurer knows this and is willing to invoke this clause if this is your first accident. However, you have to ask for the existence of this provision for not every vendor might have it. For insurers that offer this clause in their cover, there are two outcomes. The first is that the accident forgiveness clause will be provided immediately. The second is that the insurer might insist that you have to qualify by being on the accident forgiveness clause for a period of between 3 to 5 years.
- Retake the Driver’s Course
A strategic way to lower your car insurance premiums after an accident is by taking a refresher driving course. You may have last taken such a class when you were 16 years old. Taking it again gives you an opportunity to relearn some of the rules of the road and improve your standing with your insurer. An insurance provider will take note and deem you low risk if you indicate that you are taking driving lessons. Note that this will only apply if the accident you caused was not occasioned by an incident of drunken driving or flouting of road rules.
- Eliminate Your Comprehensive Cover
The quickest way to drop your premiums after you have had an accident is by dropping your comprehensive cover policy. The downside of this is that it leaves you exposed if you are involved in a crash. The advantage, however, is that it significantly reduces your premiums. After six months of clean driving, you can easily get your comprehensive cover back with much better premiums.
- Make the Most of Your Discounts
Ensure that you are aware of every discount offer presented by your insurer. Similarly, you could bundle your all your insurance coverages through a single vendor. This is a proven path to obtaining more significant discounts for your premiums.
The options listed above will be useful if you want to get cheap car insurance after accident. Keep in mind that the period after a road accident is crucial when it comes to keeping your cover, get your documents in order and keep tabs on any advantages extended to you by your insurer.