Even if you’re incredibly careful, car accidents can happen to anyone, and when accidents happen, someone’s insurance rate is probably going to rise. This is why so many people worry about the financial impact of a car crash as soon as the dust settles at the intersection. Even if a car accident isn’t your fault, that could be hard to prove if there are no witnesses, meaning your rate might still increase.
But what if we told you that your latest wreck wasn’t the end of the world? Cheap car insurance, with the coverage you can count on, is still possible to find. Whether you were just in a fender bender or even if you totaled your car, here’s how to get cheap car insurance after an accident.
Consider Raising Your Deductible
If you’re looking for a quick way to adjust your rate, consider altering your deductible. If you don’t drive much or a wreck is a rare occurrence for you (perhaps this was your first one), you might benefit from a higher deductible. With a higher deductible, you’ll be on the hook for more money upfront if you get in another wreck. However, if you establish a pattern of safe driving post-crash, there’s a chance your higher deductible never comes into play, and it could actually help counteract some of the rate increase from your previous accident.
Note: Before you raise your deductible, make sure you’ll have enough money to cover it. You don’t want to end up in another accident and be unable to pay to have your vehicle repaired. Being stranded without a car is no fun.
Adjust Your Coverage
Another way to get cheap insurance after an accident is to evaluate the types of coverage you need. Comprehensive and collision coverage are never a bad idea, but do you really need them? If your car is old, paid off, and has a ton of miles, you might just want to meet the state’s minimum requirements. If the value of your car is low, a robust insurance policy might not make the most sense. Perhaps you have some added coverages that you could consider cutting. No matter what your situation is, reviewing your coverage is a great way to save money.
Look for Discounts You’re Eligible For
Many companies, like Direct Auto, offer discounts to drivers for a number of reasons. If you’re near the end of your policy term and need to offset a potential rate increase, call your agent and see if there are any discounts you’re entitled to when your new policy starts! Not sure what to ask about? Here are some examples of ways you can save with Direct Auto:
If you’re in school as a full-time student, good grades could save you up to 10%. If you’re an active member of the military, you could save up to 25%. If you rarely drive, you could get a low mileage discount.
The ways to save go on and on and vary from company to company, but you get the picture. Life changes can mean you qualify for new discounts, and insurance companies like to add new offerings from time to time. So at your next policy review, evaluate all of your options with your agent to see if you can save money.
Change Your Payment Schedule
Are you currently paying month-to-month for auto insurance? If so, changing your payment schedule could help you find a cheaper option after an accident. While it might not be possible after dealing with the cost of a car crash, you could potentially save money if you’re able to pay for your 6-month or 12-month policy upfront. If you have the financial means, see how much this would save you over paying a monthly rate.
In some circumstances in specific states, completing an approved traffic school can prevent your rates from increasing or lower your rates. If traffic school can prevent a ticket from going on your driving record, it might be worth your time. Fewer traffic violations on your driving record are good news when it comes to your insurance rate.
Our last piece of advice is to check out what other insurance companies can do for you. When you comparison shop, you can see exactly what each company is offering you. Some insurers, like Direct Auto, are more forgiving if you’ve been in an accident. At Direct, we’ll work with you to help you get a low rate and great services, regardless of you driving history.
Still worried about your car insurance rate? Just give it a little time. If you avoid accidents over the next few years, your insurance rate will potentially drop back down.
Curious about how much Direct Auto can help you out after an accident? Visit us at DirectAuto.com, call 1-877-GO-DIRECT, or visit one of our convenient locations. Our agents are ready to save you money!