SurchargesSurcharges are issued after accidents or even traffic law violations. Insurance companies usually take into account your record, so the longer you've been with that insurance company, the better. The smaller the claim, the smaller the surcharge will be.
When you have collisions in your history, your statistical risk of filing a claim in the future increases. So your rates increase to match.
On the other hand, you can't just stick with one insurer when they are going to stick you with huge fees. Shop around after your collision before you renew your current car insurance. Start looking at free instant car insurance quotes online.
Preventing gigantic increasesTo make sure that you don't get charged too much if you get into an accident, investigate how much each car insurance company typically charges after collisions. The amount a company increases its rates for each crash is known as a "surcharge schedule". This increase varies from 10% to 50% company to company. Keep this in mind when you buy car insurance.
Tips for lowering insurance after an accident1. A new vehicle
Maybe this doesn't save you money right away, but if you need a new car anyhow, get one that is cheaper to insure. The cars that get the best deals on car insurance rank highly in safety tests. Find an affordable car that has won safety awards. If it is produced in the US, it will probably be cheaper to repair and thus cheaper to insure.
2. Extra security and safety options
Add some more security and safety options to your vehicle. Whether it be a lo-jack or more airbags, security and safety features like these will reduce the risk of theft and injury - so you will get to pay less for car insurance.
3. Improve your credit score
Do everything you can to improve your credit score. Pay down your credit cards to 1/3 of the limit to get a boost.
4. Increase your deductible
If you agree to pay more of the damages on your own in the future, your premiums will go down.