How Much Will My Car Insurance Go Up After an Accident?

It’s sad but true: most car insurance companies will increase your rates after a car accident if it is your fault. The amount of that increase varies from company to company, but on average you should expect an increase of 20% if you have two vehicles on your policy and 40% if you have a single car policy.

This isn’t a blanket statement by any means. Some insurers use different criteria to determine what they’ll increase your rate by:

• If you have had your policy less than a year, your rate may increase less than it will in later years, and less than it will for subsequent accidents.
• you are between 25 and 40 you may see a smaller increase than if you are a teenager.

All of a car insurance company’s rate increases are listed on its surcharge schedule, or insurance point plan, but most drivers don’t take the time to ask to see this list. While your insurance may seem very affordable, getting into an accident can cause you to pay astronomical rates if you’re not careful.

All is Forgiven

Some companies offer accident forgiveness programs, such as Allstate. If you get in one accident, they won’t raise your rates. If you get into more accidents, of course, your rates will rise. Still, this is a great feature that you should consider when buying car insurance.

When buying a policy, ask to see the surcharge schedule of any company you’re considering. Compare what the costs would be if you were in an accident, and factor this in to your purchasing decision.

Get started by clicking “Get a Quote” at the top of this page to get low cost car insurance rates instantly. You’ll find top insurers with heavy discounts on car insurance.