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Being involved in a car accident is catastrophic for a number of reasons, not least of which is the reality that your insurance premium will increase afterward.
So if you’re caught up in a collision on the road, can you still get cheap Insurance after the car accident?
Is it possible to reduce how much you pay for cover in the aftermath, or are you stuck with expensive insurance indefinitely?
Your History Matters
Getting in one car accident is not the end of the world from an insurance cost perspective, since so long as it’s not a situation you find yourself in regularly, you won’t be penalized too harshly by providers.
On the other hand, if you have a track record of crashes, this will count against you and have a cumulatively compromising impact on what you’ll pay for cover.
The nature of the incident also makes a difference. There are different driving offenses to know about, and the more serious the event, the greater the increase in premium prices you can expect.
Filing A Claim Is Vital
You’re obliged to report all auto accidents and file a claim with your current insurer. Failing to do so will void your cover and get you in hot water with the authorities.
Recording evidence at the scene of the crash is also wise, as it will support your version of events.
Price Comparison Will Help You Save Money
It often makes sense to renew your car insurance following an accident, as switching to a competing provider will let you save money.
It’s all part of responsible budgeting, and makes sense even if you’ve not been in an auto collision.
You May Need SR22 Insurance If You Were At Fault
In most states, you’ll need an SR22 insurance endorsement. This is essentially a document filed with the authorities which confirms that you have got the right level of cover to get back behind the wheel if you’ve been convicted of a motoring-related offense.
This may include if you’re the one that caused a car accident, because of course you’ll be seen as a riskier proposition not only by insurers, but also by the state, and so they’ll want to cover their bases in the event that you re-offend in the future.
The insurer is typically required to file the SR22 form on your behalf when you apply for insurance post-accident, so you have to be clear about your driving history and the requirements of your status.
SR22 insurance is more expensive, of course, but failing to disclose a driving offense will invalidate your insurance and put you on thin ice.
An Accident Will Only Impact Insurance Costs For A Set Period
In most parts of the country, insurers will only be able to take previous auto accidents into account when calculating premium prices for a specific amount of time.
After this point, the event is effectively stricken from the record, and you no longer need to disclose it when applying for cover.
Rules on this vary from state to state, so you should always check locally to know what’s expected of you, and stick to the letter of the law on matters like this.
Cutting corners will only end up costing you in the long run.
Final Thoughts
Getting cheap insurance after a car accident is much the same as purchasing cover in normal circumstances.
You need to get quotes from lots of prospective providers, and give accurate personal information so that the policies you’re presented with are a good fit for your needs and of course for your current situation.
