Learning All About Insurance Policies
About Me
Learning All About Insurance Policies

My name is Eric Bowman, and if you have questions about insurance, this is the blog you need to read. I was always confused when I had to purchase insurance. I would either end up paying for insurance I didn't need or I wouldn't buy the right policy. I finally decided that I was going to learn all I could about insurance policies so that I would understand exactly what I was buying. Now, I am completely satisfied with my insurance and the coverage is just what I need. I realized that there are others who are probably just as confused as I was, so I am writing this blog to help others get the best insurance for their needs and budget. I hope that my blog gives you the information you need to make the right choices when purchasing insurance.


Learning All About Insurance Policies

3 Ways To Reduce Car Insurance Rates After An Accident

Anthony Rhodes

Being in an accident typically leads to fears of car insurance rates increasing significantly. However, these fears aren't necessarily justified since there are plenty of ways to reduce your car insurance rates even after an accident. You just have to know how. Here are the three ways that you can potentially go about doing this:

Tell Insurance Company About All Accidents:

Even if you were involved in a small accident, it is important to let your car insurance company know. Many drivers will be tempted to just roll it off their shoulder thus ensuring, in their mind that their insurance premiums will not increase. However, this can be a dangerous situation.

For example, if the other driver involved in the accident decides to sue you later on and you never contacted your insurance company to report the accident, then your insurance company is probably going to have you be responsible for all legal expenses involved. These expenses are going to be much larger than your insurance premiums. So, overall, failing to report all accidents is just not worth the potential risk of paying for legal issues in the future. 

Ask About Accident Forgiveness:

Most insurance companies know that accidents are bound to happen, which is why they typically allow accident forgiveness for your first one so long as you have included it on your policy. This guarantees that your insurance premiums will not increase.

Of course, you just have to be sure that the insurance company you hold a policy with offers this and will allow you to include it onto your policy. Although you will have to pay a little extra to have it on your policy, it is well worth it in the end to ensure that you are paying the same rate even after your first accident.

Remove Comprehensive Coverage: 

After being involved in a car accident, it would be beneficial for you to remove comprehensive coverage from your policy for a temporary amount of time. This is going to reduce the premium that you pay, which can make up for it increasing due to an accident. Yes, you are going to be more vulnerable and you may have to pay out of pocket for any damages that would fall under comprehensive coverage. However, remember that it is temporary and you can put it back in place once you can afford to include it on your policy again.

Knowing these three ways to reduce your car insurance rates after an accident will guarantee that you aren't stuck paying a high amount for car insurance premiums when you really don't have to. Visit http://www.greatnortherninsuranceagency.com for more information.