It is an unfortunate reality that car insurance rates increase after an accident. This is true even if the accident is not your fault. Fortunately, lower car insurance rates are still possible even if you were the cause of an injury accident or other serious ordeal. Here are five ways to lower your car insurance rates after an accident in Tampa, FL:
- Be honest: The worst course of action is to try to hide an accident from your insurance company. They will find out even if you pay for repairs out of pocket—insurance companies periodically review state records for accident reports and moving violations. If you fail to be forthcoming, your rate increase will be worse. Plus, you will fail to benefit from insurance resources like accident investigation and legal representation should the other driver decide to sue you.
- Check for accident forgiveness: You may have opted in for accident forgiveness, or your insurance contract may include an accident forgiveness clause. If you have not had a moving violation or accident for a long time, accident forgiveness may be automatic, even if it was your fault. Many companies are willing to forgive a first or rare mishap.
- Shop around: Even with an accident on your record, another company may offer coverage for you at lower rates. Contact an insurance broker or use an online tool to gather insurance quotes. Compare the quotes and see if you can pay less than your current rates. Another approach is to look into bundling. If your renters or homeowners insurance is with a different carrier, see if they will offer less expensive car insurance if you bundle it with the other policies.
- Adjust your policy: You may have an opportunity to take advantage of discounts or simply lower your rates by making some adjustments. For example, raising your deductible from $200 to $500 could reduce your rates by 15 to 30 percent. If you plan on doing well for the foreseeable future, consider raising your deductible to $1,000 and see a discount by as much as 40 percent. For older cars that are likely to be totaled out anyway, drop collision or comprehensive coverages. There are also discounts available if you drive 10,000 miles a year or fewer, or if you have been a long-term customer.
- Sign up for a driving course: If you have not been driving your best for a while and violations and accidents keep accumulating, you can win favor with your insurance company by showing a willingness to improve. One way to do this is by taking a driving class. Driver’s education is not limited to those who are 16, and in some states, it becomes mandatory if you wish to avoid suspension. If you are proactive and sign up before your insurance company or the DMV requires it, you will likely face better rates.
Affordable Car Insurance Tampa can help you secure car insurance after an accident, and even gain lower car insurance rates in Tampa, FL than you expect. To learn more and receive a quote, contact us today to discuss your situation.