“Hey, accidents happen!” 

It’s an old saying but it’s true. It happens to all of us at some time in our life. We may be at fault; we may not be at fault. It might be a fender bender or a minor collision. Whatever the case, accidents are difficult to avoid, even for the most conscientious driver. 

So, what do you do next when that accident occurs, and the claims are filed and paid? It’s easy to be a bit intimidated, especially if you do much driving on the Beltway. Also, now you may be concerned that your car insurance premium may be increased since the accident. 

The concern is legitimate. So, here are five ways you can keep your car insurance down after an accident:

1. Contact your insurance agent for advice. Your car insurance premium is based on your age, driving record, and average miles of daily driving. Your premium may go up or down depending on tickets, at-fault accidents, location, payment plans, or other factors. So, contact your insurance agent and let them know. This will give you time to adjust. 
2. Accident Forgiveness Clause: That first accident is often looked at in our industry as a “do-over”. Research has shown that most responsible drivers have had four accidents in their lifetime. Auto insurers know this is the cost of doing business. So, they have built into the policy, a “forgiveness” for your first accident. They will ignore this one and not raise your premium. Make sure your insurance agent adds this to your policy, so your premium won’t increase after that first accident. Just remember that even when the accident is forgiven, it will still be on your driving record. Maryland does have At-Fault Accidents. Some companies have accident forgiveness. Other car insurance companies ignore one at-fault accident for clean driving records. Maryland requires all citizens to have $30,000 in bodily injury liability coverage per person, $60,000 in bodily injury liability coverage per accident, and $15,000 in property damage liability coverage. ***
3. Increase your deductible. Your company may still raise your premium if you don’t have accident forgiveness. So, increasing your deductible from $250 to $500 will lower your car insurance rates. It may decrease your premium by up to 30%. A $1,000 deductible may even save you 40% more. 
4. Take a driving class. Believe it or not, taking a driver’s education class may help you reduce your premium after an accident. A refresher driving course will be a way for your insurance company to see that you are improving your driving skills. It may help you at your next car insurance renewal. Just be sure to take the initiative and do it on your own. They will be impressed.
5. Reduce your coverage. 75% of all drivers have comprehensive or collision coverage. However, you may not need that coverage. If you reduce your coverage after an accident, you will keep your premium down. However, is it always the wisest move? No. But if you have an older vehicle or if you have enough money, you can replace it, then dropping comprehensive and/or collision insurance may be a solid financial move. Consult your insurance agent. 

That first automobile accident may be a bit disturbing, but it is not the end of paying reasonable car insurance premiums. As always, contact your car insurance agent and ask for their advice. 

Lindquist Insurance can give you an auto insurance quote and provide the coverage you need, whether you drive a lot or not. Call (301) 694-0008 to speak to our experienced and licensed insurance agents for a consultation. 

We serve the Annapolis, MD, and Frederick, MD areas.

*** For more information, consult the Forbes website.