How Much Will My Insurance Go Up After an Accident?

If you just survived a car crash, you’d be delighted now even if you’re a bit shaken. After filing a report with the police and check out that you’re fine and, you need to visit your auto insurance provider.

It’s certain most companies increase premiums after a crash. Getting car insurance quotes without personal information may be the best option right now, but read through first.

This piece will give you an idea of how much you’re expected to pay in premiums.

How Much Will My Insurance Go Up After An Accident?

This usually depends on your insurance policy carrier. For example, some companies will opt to overlook your first accident and decline to increase your premiums during a renewal assessment.

Others will not look at a crash that causes little damage such as a fender – bender, scrape, etc.  But in most situations, insurance companies won’t look the other way after an accident.

There’s a range you should expect your premiums to fall within after a crash. Many companies will charge around 30% for a first accident and increase this percentage with subsequent crashes.

Accident Increase


Increase ($) Mean rate Rate after car crash
($2000+ At-fault property damage accident) 31% $450 $1,430 $1,880
(Less than $2,000 At-fault property damage accident) 26% $366 $1,430 $1,796
(At-fault bodily injury accident) 32% $459 $1,430 $1,889

Increments to a policy owner’s premium happen right after a renewal is completed. In most cases, premium increments aren’t challenged by defaulting drivers. But if a complaint gets to the state, a review of insurance provider’s rates and calculation methods become necessary.

Note that certain circumstances result in a much higher premium than others. For instance, if your college-age or teenage driver damages your vehicle, rates differ significantly. Some companies could charge up to 60% more in premiums for a young driver on your policy.

How to Decrease Your Rates

After your rate gets increased in your next renewal period, it’s not the end. There’re certain ways to lower your premiums after a crash. Check them out below;

Request a higher deductible

Deductible payments, which are your out-of-pocket expenses, determine how much your policy carrier has to pay after a claim. If you’ve got a really low deductible payment, your carrier will have to pay a higher amount in claims.

But if your default deductible payment amount is raised, insurance policy holders will pay less in claims. Be cautious when opting for this. You could pay a lot more in deductibles if you need another claim in the future

Shred some parts off your policy

It’s dicey to do this. But if you’ve got no choice and need your premiums lowered, you’ve got to give it a try.

Removing parts of your cover such as collision or comp coverage will bring your rates down. Also, note that if you choose to do this, your policy holder can refuse to cover your losses if a theft or vandalism occurs.

Before trying this out, check if your car is safe or if you can live with a theft or vandalized vehicle.

Work on your credit score

Your credit history plays a role in premium calculations by insurance firms. Most states rely on how healthy your credit is, but not all do.

Maintain a clean credit record and your rates will drop considerably in due course.

Do you qualify for discounts?

Insurance companies offer many kinds of discounts. If you’re qualified for any of these discounts, it’s a way to get a reduction in your premium rates.

Note that most insurance companies won’t notify you of your qualification for a particular discount. Do some research to find out if you do and apply for the discount on your policy.

Shop for lower – priced coverage

Getting car insurance quotes without personal information is easy when you’re shopping for a lower-priced package.

Lots of insurance companies come up with calculation that put their premium rates at a lower position over other firms. Other companies rely on discounts to attract customers.

So check out what works for you. But note that your accident history still rolls over to a new firm until it’s wiped off your record.

Final Word

Getting through a crash unscathed is so comforting for a lot of drivers. And with this info, you’d find it comfortable to report an accident to your policy provider.

When you’re equipped with correct facts, it’s not tricky sailing smoothly to a balanced premium rate in the future.


Jeff Campbell

Jeff Campbell is a father, martial artist, budget-master, Disney-addict, musician, and recovering foodie having spent over 2 decades as a leader for Whole Foods Market. Click to learn more about me

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